Borrowing money and accessing credit is not cheap. Interest rates vary but these days, they do tend to be high – there is no avoiding it.Just a simple search on the internet and you will find many stories about people who have entered into loan agreements without doing the necessary checks and research. These people have ended up getting into worse financial trouble which resulted in terrible experiences with less than trust worthy lenders. Don’t be one of those people!Always make sure you are fully aware of your own financial situation, your earnings, your expenditure and exactly whether you can afford to borrow money, before you go ahead and commit to any loan or type of credit.If you don’t consider what you can truly afford you may find yourself struggling to pay back a loan which will result in further interest and charges making the whole situation worse and the debt larger.Always be careful. Think and then think again before applying for any type of loan or credit. Always do your research and find out all you can about the lender you are considering. Look for trusted companies who have a track record in the financial sector. Make sure they have transparent and clear terms and conditions and that they answer all your questions. Good companies will NEVER try to ‘sell’ you a loan. If this happens, don’t fall for it. Lenders are there to help you, they are NOT selling you a product!While you may be suffering from a financial emergency and in need of emergency cash very quickly, try, wherever possible to consider all the ways you can access the financial help you need. Only borrow money as a last resort.Consider whether you can put things off for a week or two until you are paid, or can you borrow the money form family possibly? Sometimes these options will help you out and prevent you having to borrow money.If you do not have these options and you do need to consider a short term loan, always take into consideration how much you will be paying back. You need to be certain that when your next wages is in the bank, you can pay off the short term loan fully so you don’t incur late payment charges.The amount you can borrow depends very much upon the lender you are considering and how much the loan costs. It also is dependent upon what you earn in your regular monthly wage.The most important this is that you are in employment and receiving regular income into an active bank account. If you can meet these requirements and you have calculated how much you can afford to borrow and pay back, then a payday loan can really be helpful in an emergency.Do as much research as you can before you complete an online application form. The best lenders will provide clear and easy to understand information on their websites. They usually have a good loan calculator too so you can work out how exactly how much a loan will cost you.Always check there are not hidden fees or additional costs associated with borrowing. Make sure, before you apply, that you are aware of exactly how the loan works.The best thing to do is to compare three or four reputable lenders. Compare their prices, their interest rates and their services to customers. This will give you a good picture of what the best option is. Your best option is the lender who can help you financially at a cost you can afford and who are responsible lenders who offer all the information you require before you apply.So, before you apply, check the terms and conditions; check the APRs and check their reputation. Don’t believe the hype and fancy advertising or classy looking websites!By doing these simple things you will find a trustworthy lender who has experience in the world of finance. They’ll be able to help you in your time of need and you’ll have the peace of mind knowing you can afford the loan and know you will be able to repay it when agreed.