No matter how well you juggle your finances, things do fall apart. If you are also facing a cash crunch because of an emergency, lending money is the most sensible way to manage the dire situation. But for many people, lending a small amount ends up in a debt trap. It is not because they did something wrong; it is just they chose the wrong lending option.

This is what today’s post is about. We will evaluate the two most popular instant lending options, i.e., short term loans in Canada and payday loans.

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