An increasing number of households all over the world are discovering it harder to keep pace with the ever growing inflation monster. This has meant people now have to shell out more for day to day expenses such as food, energy and gas and that in turn is leaving them with much lesser income in their pockets to last the month. The only alternative for them then to meet exigencies is to take payday loans. The main reasons can be summarized as under: a) It is indeed becoming very pricey to live anywhere in the US or Australia. The number of payday loan borrowers in Australia for example has been showing a consistent increase as people struggle to keep up with the inflation and their own rising aspirations. b) Australians have become very dependent on these payday loans and that has reflected in a tenfold increase in growth of this
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