The second factor that you should take into account is your ability to pay for a loan of that magnitude
. Admit it or not, a payday loan amounting to a thousand dollars or more is not something you should think lightly of. Consider how much you are going to receive next pay day; make a note, too, of how much of the loan money you will likely spend, and how much will remain. Then ask yourself if your cash is enough to pay the lender in full when the loan term ends. If it won't be enough, then you are applying for the wrong kind of loan. What you should be looking into are long-term loans that you can pay in small increments over a long period of time.