It's a beautiful day and you are driving home looking forward to a nice quiet evening, when suddenly you spot steam blowing out from under your hood. You pull over to the curb, open the hood and discover that your radiator has a huge leak in it. Not only do you have to pay to have your car towed to the repair shop, but it's going to cost several hundred dollars to replace the radiator. What do you do?

Unfortunately, things like this occur to all of us, and at completely unpredictable moments. The only thing we can say with any certainty is that "unexpected things will happen," things that will change your plans or possibly even your life.

Dealing with unexpected changes would be much easier if we only had plenty of cash on hand. To someone with a million dollars sitting in the bank, a busted radiator is a mere inconvenience. To a poor working person with $20 to last until payday, a busted radiator can be a devastating experience.

Of course, there are also good unexpected events as well. Suppose you are looking at a new $250 CD player for your car and a friend tells you that a store in town is having a "one-day sale" with that exact CD player for just $125. Again, to a poor working person with $20 to last until payday, that could be a devastating experience.

Can you prepare for emergencies so you don't find yourself in a bind when they occur? Sure you can, to an extent. It is always a good idea to put away some money in savings for emergencies, but the fact remains that you cannot prepare for everything. One never knows how much money might be needed at any point in the future, and one never knows how hard and how fast the emergencies will hit.

Without savings, many persons in need of quick cash turns to credit cards. This source can give them the cash they need, but if they make only the minimum monthly payment on the credit card it places them in a state of permanent debt to the credit card company. This is what's called a debt spiral. Banks and big lending institutions use this spiral tactic as a money making scheme. Have you ever wondered why they are so eager to upgrade your credit amount all the time? It's certainly not for your benefit.

There is an alternative solution for fast money without the long term backlash. Loan companies specializing in payday loans can process a loan application quickly and easily online, depositing your money directly into your bank account. Provided you do your research and choose a company that doesn't part-take in rollover loans (where they keep upgrading your credit limit) it can be a responsible way of lending. Despite the interest fee seeming quite high, if you relate it back to the ongoing charges you will incur form a credit card it can end up being substantially cheaper. A new product launched by some payday loan companies is a card to instantly access cash advances. It works just like a credit card minus the long term debt and ongoing fees. When unexpected things happen in your life, put away those credit cards and leave your hard-earned savings accounts untouched.