The idea of these loans are in the very title: Payday loans. They are entirely meant to tide people over before their next wage. Therefore, to even consider using them for other means can lead you into a whole heap of trouble.
For example, let us say that you are going on holiday in a couple of weeks, you have already spent what you can afford, but fancy putting some more money on a travel money card that you will use for additional spending money. You are keen to live for today and worry about the financial impact tomorrow: where payday loans are concerned, you would be making a huge mistake!
The very idea of any payday loan is to ensure that you pay it back as quickly as possible. If you fail to do so, with APRs that are quite literally many hundreds or even thousands per cent, the interest rate on even the smallest of loans will rise out of control in no time at all.
Unfortunately, with the current state of the economy, more and more people are falling foul of the payday loan companies and what may have started out as being a small loan, escalated to debts that ran into the thousands of pounds.
Payday loans are all well and good if you are adamant of being able to pay them back as agreed, but they will be a recipe for disaster otherwise. Even if it means going without something else in life, ensure you make paying off this type of loan your very FIRST priority.