Over the years, irresponsible utilization of the payday loans by those people who take it has given a bad reputation to payday loans even if it holds value for some people. The fact is payday loans are not for everyone as they are meant to serve short term needs only. Reasons like fixing a long term problem and not having money to pay back a loan when the pay day has arrived should not encourage you to opt for payday loans.Using Payday Loans WiselyEver wondered why people start complaining about payday loans or feel they are in a trap once they start using these loans? The fact of the matter is that payday loans are for short term use, which means a week to two weeks. This loan type is for those that are between pay periods. Also, when they need some extra cash to pay for medical bills, car repairs, house repairs, and that sort of thing.It is the interest rate of payday loans which seems to be a problem for many people. These loans do have a very high interest rate, in fact the federal government has thought about stepping in and putting a limit on how high the interest should be allowed to go. You can pay extraordinary amounts of money in interest. And according to me, when you are only borrowing for one week and you are really in a pinch and you need the cash, the interest isn't all that bad.For instance, if you need to borrow $300 until pay day you may actually need to pay back $375 or more when you get paid. This seems like a lot, but sometimes when you really need that money now, the $75 that you pay in interest is worth the convenience of being able to take care of whatever pressing issues that you are dealing with. Now, if you are simply getting behind on money and you take out the $300 or more and you simply carry the loan amount over from week to week, you are throwing money away! Yes, one area where taking payday loans does not makes sense is when you do not pay off the loan and keep paying this interest amount every week or two weeks. This way you are not able to go ahead.According to me, payday loans really are sufficient for those people who are responsible with their money and have urgent need to attain access to a bit more cash before payday. The whole idea is that you give the payday company a check for the amount of money that you need in addition to interest. They give you that amount of money in cash and when you get paid they deposit the check and the whole loan is closed out and you are done. Sadly enough, people continue to carry the loan from week to week. This might be fine once or twice, but if you keep doing it you'll just dig yourself in deeper and deeper. Many people find that they are never able to pay the full amount of the loan back. Hence as one realizes, payday loans should be one of the last options, especially when the borrower is in a true pinch.