At the beginning of the year the television is awash with adverts for holiday destinations, often offering special deals that aren't repeated later on in the year. To be able to take advantage of the deals on offer, you need the funds to be able to book and pay for your holiday up front. However, the New Year is also the time of most financial hardship for many people, so a little extra injection of cash in the form of a payday loan may be able to help.

Payday loans are small, short-term loans that are based on your monthly earnings. There are certain criteria that have to be met before applying for a payday loan. You must be over 18 years old, prove that you are in full-time employment, and have a bank account into which your wages are paid regularly. It is also essential that your bank account has a debit card facility.

Payday loans do not depend on your household status (whether you are a homeowner or a tenant), but you do need to consider if you will be able to cover the cost of a payday loan (including interest charges) with your next wage payment. If you think that paying back the loan could leave you financially short for the next month, it may be advisable to look at other options.

The New Year can be a financial struggle for many people still getting over the cost of the Christmas period, so being able to take advantage of the cheap flight deals by booking early can put a real strain on your dwindling funds. A small payday loan could cover that strain and mean that you can take up an offer that only lasts a short time. If approved, a payday loan is usually deposited into your bank account the same day you applied, so you can be sure that you don't miss out on a cheap flight to Disneyland, for example. As the pound's status against other currencies fluctuates these bargains don't stick around for long, so being able to move quickly means more chance of getting a better deal on your summer holiday.

Do remember, though, that the loan will be taken out against your wages, so make sure that you have the funds to cover this eventuality. Payday loans are also usually small amounts - so, if you're intending to use it to pay for a long all-inclusive holiday, it may only cover part of the amount you need to pay. Payday loans are ideal for deposits or cheap, short haul flights, but if you are looking at more expensive holidays then you may need to consider other payment options.

So, if the credit crunch and winter blues are bringing you down, and the lure of a sunny destination is something you look forward to, a payday loan could be the ideal opportunity to help you take advantage of the deals on offer at this time of year.