Cash advances and payday loans are an easy and quick way to cover unforeseen expenses and get you much-needed cash fast. But how do you know for sure when it is the right time to use a payday loan?

The rule of thumb is to use payday loans and cash advances only as a temporary solution. Payday lenders will almost always require you to pay the loan back, either in part or in full, upon your next payday, so only take out a cash advance amount that you can confidently pay back.

The reasons to take out a payday loan are many, but there’s one important rule to follow: only use the money for responsible and necessary reasons - and always be prepared to pay it back eventually. Unexpected car repairs, medical bills, and other unforeseen expenses are the leading problems that cash advances can help solve. When you need cash fast for a variety of issue, payday lenders can usually get you money faster and easier than bank loans or wiring services.

Payday loans also come in handy when you want to avoid costly credit card or NSF fees. Rather than bouncing a check or going past due on your credit card bill, payday loans can get you the fast cash you need to tide you over until payday.

As always, the most important thing is to use all forms of lending responsibly. If you borrow only what you need and use it in a responsible way, payday loans can be a lifesaver when you need quick money.

We all know how quickly debt can pile up. From car loans to high-rate credit cards to simple overspending - sometimes the sheer volume of debt can seem overwhelming. But, lucky there are easy ways in which to get your bills in order and actually make your debt work for you. From credit card relief to payday loan help, here are some virtually pain-free solutions to get you back on track:

1. Face your Finances - The initial step in improving your debt is to take stock in how much you owe. This isn’t always a pleasant experience, but as the old adage goes, you can’t control what you don’t know. Write down all your outstanding loans, credit card balances, and payday loans along with the interest rates that are attached to each one. Now that you know the damage, it’s time to begin to repair.

2. Understand Good & Bad Debt - It sounds like an oxymoron, but some debt can actually be good for you. Student loans, though hefty, provided you with a quality education and their relatively low interest rate can be easy to handle. Small credit card balances that can be completely paid off on a monthly basis are also good ways to build a positive credit score. Cash advances and payday loans will never hurt your credit - just make sure to pay them off in a timely manner.

Bad credit includes out-of-hand credit balances that continue to accrue high interest and similarly large car loans. Car loans can run at between 7 and 10%, depending on the length of the term, with credit card APRs averaging at 15%.

3. End the Cycle - The simplest way to start lowering your debt is to stop using those high-rate credit cards. You can’t build a better future by continuing to build debt at the same time. If you must rely on plastic, call your credit card company and ask for a lower rate - they’re usually willing oblige rather than lose you as a customer.

Better yet, stop using the cards all together. Payday loans are a great alternative to continuing to rack up credit balances. You can get small cash advances quickly between paydays and the money will be deposited and withdrawn directly from your account, so there’s little temptation to let the balance ride over for months. The fees attached to payday loans tend to be small in the short term and are always a better alternative than ruining your credit by missing credit card payments or bouncing checks.

4. Smarter Spending - The only way to improve your finances in the long-run is to balance your spending. Create a budget worksheet to organize finances and dedicate yourself to paying down debt. By simply skipping costly lunches or that weekday happy hour, you can save $60-80 a month. If unforeseen expenses arise, consider a short-term cash advance rather than returning to the credit card trap when you need fast cash.

Apply those thrifty savings to your outstanding credit card balance and you can pay it off in months rather than years - not to mention save hundreds of dollars in interest.

For better or worse, debt is a part of our modern economic environment. Learning how to manage the debt you have - and using smart practices to pay it off - can mean the difference between getting stuck and working your way free.