Vitamin Classification

The National Institute of Health has reported that our body needs to consume 13 different vitamins to maintain normal health. In this list of vitamins they include the vitamin B complex (folate, B12, B6, biotin, pantothenic acid, niacin, riboflavin and thiamine) as well as vitamins K, E, D, C and A. That is because each vitamin in the list is essential for different functions of the body. In most cases, people are able to get sufficient vitamins simply from consuming a diet that is well-balanced. How do we classify vitamins?

Vitamin Classification

Classification Standard

The main classification for vitamins is based on solubility as some are soluble in water while others are soluble in fat. The vitamins which are soluble in fat are stored by the body and therefore can accumulate. On the other hand, the kidneys flush out water soluble vitamins. Another way that some people classify vitamins is based on how they were obtained: either from food or naturally from food. This method, however, can become complicated because many of the foods we consume on a daily basis are vitamin fortified.

Fat-soluble Vitamins

Because the body stores fat-soluble vitamins in its cells, they are not flushed out as simply as the water-soluble vitamins. This means that they do not require as frequent ingestion as water-soluble vitamins but you still need sufficient amounts. It is important to remember that consuming too much of fat-soluble vitamins can cause toxicity. We are particularly sensitive to high levels of vitamin D as well as high levels of vitamin A specifically from animal sources. Simply consuming a balanced diet should provide sufficient fat-soluble vitamins.

Vitamin Name	Function	Dietary Sources
Vitamin A	Vitamin A helps with healthy mucous membranes and skin, vision, tooth and bone growth and the health of the immune system.	From retinol (animal sources): liver, eggs, fortified margarine, butter, cream, cheese, fortified milk. From plant sources (beta-carotene): dark orange vegetables (pumpkin, sweet potatoes, winter squash, carrots) and fruits (cantaloupe, apricots); dark green leafy vegetables.
Vitamin K	Vitamin K is required for correct blood clotting.	Vegetables from the cabbage family, leafy green vegetables, milk; it is also produced in the intestinal tract by the bacteria.
Vitamin E	Vitamin E is an antioxidant and helps protect the cell walls.	Nuts and seeds, egg yolks, liver, whole-grain products, wheat germ, leafy green vegetables and polyunsaturated plant oils (safflower, cottonseed, corn, soybean).
Vitamin D	Vitamin D is stored in the bones and is required to properly absorb calcium.	Fortified margarine, fortified milk, fatty fish, liver, egg yolks; the skin can also produce vitamin D when it is exposed to sunlight.

Water-soluble Vitamins

Water-soluble vitamins are able to freely travel throughout the body and any unneeded quantities are usually flushed out by the kidneys. Frequent small doses of water-soluble vitamins are required by the body and this type of vitamin is not as likely to approach toxic levels as fat-soluble vitamins are. In addition, vitamin C, choline, folate, vitamin B6 and niacin have higher consumption limits. Consuming high levels of vitamin B6 during long periods of time can cause nerve damage that is irreversible.

Most people are able to consume sufficient quantities simply by consuming a balanced diet. However some vegetarians as well as those over 50 years of age may require supplements for sufficient B12 intake.

Vitamin Name	Benefits	Dietary Sources
Ascorbic acid (vitamin C)	Ascorbic acid is an antioxidant and it is a portion of an enzyme that is required for protein metabolism. It also helps with iron absorption and is important for the health of the immune system.	Only found in vegetables and fruits, especially: kiwifruit, mangoes, papayas, lettuce, potatoes, tomatoes, peppers, strawberries, cantaloupe and vegetables that are part of the cabbage family
Thiamine (vitamin B1)	Thiamine is a portion of an enzyme that is required for energy metabolism and it is important for nerve function.	Found in moderate amounts in all of the nutritious foods: nuts and seeds, legumes, whole-grain/enriched cereals and breads, pork
Riboflavin (vitamin B2)	Riboflavin is a portion of an enzyme that is required for energy metabolism. It is also important for skin health and normal vision.	Enriched, whole-grain cereals and breads, leafy green vegetables, milk products
Niacin (vitamin B3)	Niacin is a portion of an enzyme that is required for energy metabolism. It is also important for skin health as well as the digestive and nervous systems.	Peanut butter, vegetables (particularly leafy green vegetables, asparagus and mushrooms), enriched or whole-grain cereals and breads, fish, poultry and meat
Pantothenic Acid (vitamin B5)	Pantothenic acid is a portion of an enzyme that is required for energy metabolism	It is widespread in foods.
Pyridoxine (vitamin B6)	Pyridoxine is a portion of an enzyme that is required for protein metabolism. It also helps with the production of red blood cells.	Fruits, vegetables, poultry, fish, meat
Folic Acid (vitamin B9)	Folic acid is a portion of an enzyme that is required for creating new cells (particularly red blood cells) and DNA.	Liver, orange juice, seeds, legumes, leafy green vegetables. It is now added to many refined grains.
Cobalamin (vitamin B12)	Cobalamin is a portion of an enzyme required for the production of new cells and it is important to the function of nerves.	Milk, milk products, eggs, seafood, fish, poultry, meat. It is not present in plant foods.
Biotin	Biotin is a portion of any enzyme that is required for energy metabolism.	It is widespread in foods and can be produced by bacteria in the intestinal tract.

Considerations for Vitamin Intake

Choosing the Right Vitamin

When you select between the many multivitamins that are found on the market, you should remember that determining your ideal vitamins and supplements depends on the following:

• Your current health
• Your age
• Your diet
• Your gender
• Your exercise regimen

Each of the above factors will determine the quantities of each vitamin and mineral that your body requires. An example is that a body builder who is a young male would probably need to increase their consumption of calcium, iron and protein to help maintain their bone and muscle strength. A young child that is sick, however, should increase their intake of vitamins B and C in order to help their immune system.

Before you choose the right multivitamin (both for you and for your family) you should talk to your doctor. They will tell you about the best brands available as well as the vitamins that are ideal for children, men and women.

Supplement Risks

Most people can take a single multivitamin each day and as long as it follows the recommended dosage they will not have any negative side effects. It is important to remember, however, that taking too much of any vitamin (especially fat-soluble ones) can be toxic for the body and increase a person’s risk of early death.

Should You Take A Multivitamin? Benefits & Side Effects

Put simply, a multivitamin is a nutritional supplement that includes a combination of vitamins, and often minerals. Vitamins are good for you, right? So it should be a no-brainer: why not take a multivitamin.
The hitch is that there is no standard or regulatory definition for multivitamins, meaning that the composition and quality can vary significantly from product to product.
Originally designed to protect against micronutrient deficiencies resulting from inadequate dietary intake, multivitamins’ application has been broadened over time. Now not only do you have vitamins to supplement nutrient deficiencies, but products with specialized formulas which purport to meet a variety of goals, including: increasing performance, aiding in weight loss, protecting against cancer and other illnesses, and improving longevity. Can vitamins really do all that, or is it just a big marketing game?

Multivitamin Summary: Key Takeaways

As this is a long article, here are the key takeaways so you can quickly reference them:

• The long term health benefits and risks of multivitamins are inconclusive
• If you do not have a balanced diet that includes fruits and vegetables, a multivitamin may be beneficial as nutritional insurance
• A whole foods powder supplement is likely the best bet, my favorites are Lindberg Fruits & Greens+
• If you don’t want to drink a powdered supplement, consider a true whole foods multivitamin supplement by Megafood, or Garden of Life
• While challenging, eating as much as 10 servings of fruits and vegetables a day is ideal

Whole-Food Vitamins vs Synthetic Vitamins

I like to break down multivitamins into two broad categories: whole-food derived (found in natural, whole foods) and synthetic (created in laboratories). Without getting too technical, it is important to understand that just because something has been synthesized in a laboratory doesn’t necessarily mean it is not the same as what is found in nature. However, it is often different – for instance, synthetic Vitamin E is structurally unique from that of natural Vitamin E.
With both types of vitamin on the market, the argument against using synthetic – which include chemical distillates – is that they are not recognized and used by the body the same way vitamins from whole foods are. In research on scurvy (a disease defined by a Vitamin C deficiency), for example, it was found that whole foods containing Vitamin C quickly eliminated the illness while ascorbic acid (the distillate) supplementation had little effect.¹ Whole food vitamins (in their highest quality form) contain the vitamin complexes as they exist in nature, and are theoretically recognized by the body as whole foods.

Vitamins Do Not Have To Be Tested Before Appearing On Store Shelves

Although the FDA has established “current Good Manufacturing Practice” (cGMP) regulations (requiring that vitamin manufacturers evaluate their products by testing purity, strength, and composition), because vitamins are classified by the FDA as general food products under the category of dietary supplements, and no testing is required before the manufacturer brings a product vitamin to market.
The primary safety concern with multivitamins is toxicity from over ingestion of a vitamin, or mineral, leading to increased risk of illness. For example, ingesting too much zinc interferes with copper and iron absorption. Since people do not need to consult a doctor before ingesting vitamins, you can potentially take vitamins that interact with one another in ways that can hurt, rather than help, your health.
Additionally, as with any nutritional supplement, there is a risk of impurities in the product, which can have severe consequences. For example, a contaminated batch of tryptophan from a particular manufacturer in Japan was linked to 37 deaths and 1500 cases of permanent disability.²

Long Term Health Benefits of Multivitamins Are Inconclusive

Diets high in fruits and vegetables reduce the risk of diabetes, cancer, heart disease, and a host of other medical conditions.^{3 4 5} It’s hypothesized the high concentrations of anti-oxidants & fiber reduce inflammation and protect against chronic disease. So, the natural progression from this is the belief that supplementing with isolated forms of the anti-oxidants and nutrients found in fruits and vegetables would confer the same benefits.
The research, however, on the benefits (and harms) of vitamin supplementation in the general population is inconsistent. Supplementation of a nutrient confers health benefits if a person is deficient in that nutrient. That should be obvious, but that is not what this article is about. The question we need to know the answer to is: will taking a multivitamin make us live longer or perform better?
The gold standard of research study design is a randomized, placebo controlled trial, in which subjects are divided into experimental and “control” groups, with the experiment group receiving a placebo, or inactive substance, and the experimental group receiving the substance to be studied.
Last year, the Journal of the American Medical Association published the results of the first large scale, placebo controlled trial examining the long-term effects of multivitamin supplementation on cancer. The researchers found an 8% decrease in total cancer incidence in men taking a multivitamin. However, other observational studies find no association between multivitamin use and lower cancer rates, and some even find evidence that supplemental intake of certain vitamins may actually increase risk of certain cancers.
To further complicate matters, the few randomized controlled trials that have been done have produced conflicting results. Some show decreased cancer incidence⁶ and others show no effect or elevated risks.⁷
As far as improving performance, the research is also equivocal. For example, a study published in the Journal of the American Society of Clinical Nutrition shows no performance improvement in runners after 3 months of multivitamin supplementation. Similarly, a study entitled “Chronic multivitamin-mineral supplementation does not enhance physical performance” concluded just that.⁸ A study from 2006 in Research and Sports concluded that a liquid multivitamin supplement had no effect on “Anaerobic Exercise Performance” in people consuming an adequate diet.
Herein lies the problem and its resulting million dollar questions: What is an adequate diet and does the definition change depending on exercise habits and goals?

Multivitamin Recommendations

The research on multivitamins is lacking overall and even the research that has been done shows conflicting results. So what are we to do?
Ideally, an individual should strive to eat a variety of fresh fruits and vegetables (10+ servings) every day. Few people would disagree that this is the best way to get nutrients, improve energy and performance, and guard against disease. There is certainly a synergistic health effect from the contents of fruit and vegetables (both the things we know about and probably things we don’t know about), as nature’s design is most likely the best. The problem lies in executing this type of plan over the long run.
This is especially true for people who are trying to restrict calories to lose body fat, as 10 pieces of fruit would provide about 1000 calories per day. So what is the next best thing to eating that much produce? The makers of Centrum will say that taking a Centrum a day is the best alternative. Companies that sell whole food vitamin supplements will tell you that taking Centrum will do more harm than good, as the body doesn’t recognize and utilize synthetic vitamins the same way it does natural micronutrients. Unfortunately, there is no clear answer provided by research.
If eating 10+ servings of fruit and vegetables per day is not feasible for you, the next best thing is a product that most closely approximates it, namely, a “super greens and reds powder,” which is essentially fruit and vegetables concentrated down into a powder to be taken daily. This bypasses the issue of poor use of isolated nutrients and the idea that nutrients in real food exist in combinations impossible to replicate in a lab. There are many of them out there, but Lindberg Fruits & Greens+ is my choice.
If using a super foods powder is not feasible, the next best thing is a whole food multivitamin. It is very important to scrutinize the label of whatever product you’re thinking about buying, as often times products label “whole food multivitamins” are actually synthetic compounds combined with yeast (a whole food). Megafood, makes a good product, as does Garden of Life.
I recommend against the routine use of traditional multivitamins, unless you are part of a special population that research has shown to benefit from them. Still, if you are a hard training athlete, or are at risk for deficiencies due to restricted nutritional plans, you will likely derive more benefit from supplementation with traditional products than none at all. It is, however, a much better idea to use a preparation that more closely mimics eating real food.
In conclusion, there are no clear answers, and in the end the decision to supplement with multivitamins needs to be tailored to the situation of each individual. For most of the population, and especially athletes and people looking to improve body composition, a whole food derived nutrition supplement is a solid bet.

Medically reviewed by Oladapo Babtunde, M.D.

Types Of Expatriate Insurance

Posted on June 19, 2015

If you and your household relocate overseas, among your very first priorities from a monetary planning viewpoint might effectively be establishing health care.Costs and services abroad can differ greatly to what you are accustomed to ‘back house’. For that reason it’s essential to ensure that you are completely covered.Beginning with straight medical insurance for you and your family you may then have to think about both crucial health problem insurance and earnings security. Ensuring that you have the important insurances in place will manage you greater assurance combined with higher security as a family.Individual assurance will allow you to get on with enjoying your time abroad and enable you to concentrate on developing long term monetary freedom.

Health insurance

In terms of health insurance, it’s necessary to see to it that you and your household are covered in your brand-new nation of residence and also when travelling.Always make certain that you are comfortable with any constraints or restrictions of policies advised to you, and any excess you may be responsible for in case of a claim.Medical expenses vary greatly worldwide, as do the levels of treatment offered. Learn exactly what services are available in your nation of house, what your expatriate insurance covers you for, and always see to it that you have the option to repatriate in case of an emergency situation.

There are so many companies mading available medical insurance to expatriates in the marketplace today and all featured functions, benefits, exclusions and exceptions.To advise that you speak to a monetary consultant to discover exactly what your finest choices are depending on your individual needs and those of your household.With something as precious and essential as your health are you prepared to accept 2nd best?

Important illness insurance

Vital health problem insurance can remove tension and financial strain if ever you are incapacitated through severe health problem.Financial expenditure and outgoings will certainly not stop if you are taken ill: your capability to provide for your family will however stop. Critical illness insurance is developed to payment in the event that you are not able to work due to severe and ongoing disease.

Income defense insurance

Income protection insurance might likewise be readily available to you and of interest. This insurance is utilized to replace a percentage of your earnings if assurance voyage you are unable to overcome injury or disease.

Life Insurance

As an expatriate living in a ‘foreign’ country there are lots of uncertainties, upheavals, unknowns and issues particularly when it pertains to fiscal matters.Life insurance is among the most essential items when it concerns peace of mind. You want to secure your liked ones in case of your death – secure them economically and emotionally.For your family to preserve the same standard of life in the event of your death you have to make sure that you have the proper type and level of life insurance

Is My Partner a Sex Addict?

While it’s true that a diagnosis of sexual compulsivity—another term for sex addiction—is generally only self-ascribed (arrived at by the addict him or herself) or with the help of a trained therapist, it can be important for loved ones to understand the signs. When we find ourselves romantically involved with a sex addict, our lives can begin to feel just as unmanageable, just as painful as the addict’s may feel to them. There is generally a blissful stage in every partner’s life where he or she remains unaware of the addict’s patterns, and happily the two exist in unawareness and denial, respectively. But soon enough, the suspicion sneaks up. Eventually full recognition dawns, and the painful process of grieving must begin.

Below you will find some behaviors that may indicate sex addiction, though none of them taken alone qualify as a diagnostic tool. They are offered here with the understanding that recognizing a partner’s sexual addiction can help both partners to grow and heal. Sex addiction is an intimacy disorder. If your partner is in fact a sex addict, his or her job will be to uncover the foundation of this painful problem—issues that usually go back to childhood, and are often rooted in trauma.

Behaviors Common to Sex Addicts

• Hiding sexual activities out of a feeling of shame — Hiding sexual behaviors, such as pornography use, is a sign that he feels “bad,” “wrong,” or ashamed. For example, if you discover that your partner is viewing pornography consistently, but he tries to deny it, it may be because he feels ashamed. It’s easy to make this one about you. You may assume he thinks you’ll be angry (even if you have open views about pornography), and can’t understand his need to hide the truth. The lying likely will make you angry, but if your partner is addicted to pornography—a kind of sex addiction—remember that his denial is about shame, not about you.
• Dramatically increased or decreased desire for sex — If you notice that your partner wants sex—especially intense or aggressive sex—frequently and suddenly, and that her focus is heavily on sexual topics, she may be experiencing sex addiction. Likewise, if her desire for sex dramatically shifts and she does not desire to be sexual at all (called sexual anorexia), this too, paradoxically, could be a sign of sexual addiction.
• Seems to use sex as a means of connecting; unable to open up — If you feel your partner resists talking about feelings and only shows his affection for you by having sex, it may be that you’re dealing with someone who is unable to connect through authentic emotional intimacy. This is not necessarily a measure of how your partner feels about you, but it can mean, in a sexually addicted partner, that his cues for emotional intimacy are broken or were never learned. This is the part of sex addiction referred to as disordered intimacy, and is the root of the problem for sex addicts. Learning to connect in healthy emotional ways is an important part of recovery for sex addicts, though it can be frightening initially, particularly when the problem is rooted in past trauma or abandonment by early caregivers.
• Repeated pattern of cheating — Not all cheating is a sign of sex addiction, but a compulsive pattern of infidelity appears in many relationships with a sex-addicted partner. This can be some of the most devastating news to a partner, and it can be quite difficult to regain trust after such a breach, especially when the cheating happens more than once. But sex addiction can be treated, and many sex addicts and their partners have benefited from recovery where not just the addict seeks support, but the partner as well—perhaps through therapy or in a 12-step group like COSA (codependents of sex addicts) or S-Anon (family and friends of sexaholics), or a combination of both.

Many recovered sex addicts find they have more honest, more intimate and more genuinely connected relationships with the partners who chose to go through recovery alongside them, and are deeply grateful for their partner’s openness. Not all relationships can survive such a painful addiction, of course, but of those that do, a willingness to remain aware and to heal—on both sides—continues to be a common factor.

What is a payday loan – and why are they so controversial?

Everything you need to know about payday loans – and what is being done to protect consumers

The Church of England's claim it will take on Wonga – and the subsequent revelation over its investments in the firm – have put the spotlight back on the payday loans industry. Wonga is the best-known firm operating in this arena, offering short-term borrowing at high interest rates. So how does it all work?

What is a payday loan?
It is a loan designed to be taken out over a short period of time. Typically they are advertised as a means to fund unexpected purchases that arise a few days before the end of the month, when you are strapped for cash and waiting for payday. Unlike traditional personal loans they are arranged over days rather than years, so can be used as a stop gap until your wages arrive.

How much can you borrow?
Typically up to £1,000, although some lenders restrict the size of the first loan they will offer. Loan periods start at less than a week and in some cases run to months. Peachy.co.uk, for example, offers borrowing over five days to five months, while Wonga's loan period starts at just a day and the maximum varies throughout the month. There are not usually early repayment charges, but there are fees for setting up the loan, as well as interest, which is usually calculated daily.

Are they expensive?
Yes, but not necessarily more so than traditional alternatives – as long as you pay them off as expected. Borrowing £90 from Wonga for three days costs £8.37, which is likely to be less than your bank charges for an unauthorised overdraft. An authorised overdraft could be better, or an interest-free credit card, but these are obviously not always options.

However, charges quickly mount if you miss the repayment or decide to extend or roll over the loan. What started as a small loan can grow rapidly once extra interest and fees start to be applied.

How quickly do they add up?
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Say you took out a £200 loan from Wonga arranged over 14 days: after that time you would owe £234.27. If Wonga is unable to retrieve that money from your account on the repayment date it will hit you with a £20 late payment charge. If, instead, you get in touch and ask to roll over the loan (effectively using another one to pay what you owe) for another 14 days, you will then owe £274.17. If, at that point, you decide you still can't pay and roll over for a month your debt will grow to £368.77. So after two months, you will have accrued interest of almost £170 on a £200 loan.

If you are unable to repay Wonga on the final agreed day, interest is added for up to 60 days at 1% a day, then frozen. In this example, that would add more than £200 to the cost before fees were frozen. After four months the debt will have grown to almost £600.

What about the massive interest rates that are quoted?
Annual percentage rates (APR) on payday loans are huge – Wonga quotes a representative APR of 5,853%, while another major player, the Money Shop, has an APR of 2,400.8%.

However, as lenders are quick to point out, the way an APR is calculated was not designed for short-term lending, and reducing the loan period means the interest rate goes up. This makes it difficult for consumers to compare the real cost of the different loans available, and has led to calls on all sides for a new "total amount repayable" figure which expresses the cost in pounds and pence.

Why are they controversial?
Campaigners against payday loan firms point to the way that borrowing can very quickly add up. They also claim lenders are targeting the most vulnerable borrowers and are not doing proper affordability checks on them before granting loans. Not all lenders co-operate with debt charities trying to help people out; costs are not always transparent; and some lenders seem to encourage consumers to take on more borrowing.

Is the criticism fair?
The Office of Fair Trading spent a year looking at the industry and found widespread evidence of irresponsible lending and breaches of the law. It said borrowers were suffering "misery and hardship" as a result of fundamental problems with the way lenders operated, putting speed ahead of everything else.

The charity Citizens Advice reported that among 2,000 loans taken out with 113 lenders, in nine out of 10 cases the borrower was not asked to provide documents to show they could afford the loan. Of those who had repayment problems, seven in 10 said they had been put under pressure to extend the loan, while 84% said they had not been offered a freeze on interest rates and charges when they said they were struggling to repay.

What is being done to protect consumers?
The OFT has shut down three lenders so far in 2013, and has referred the industry to the Competition Commission, which will be able to insist on improvements. Since it published the results of its review, 11 lenders have decided to withdraw from the market, rather than making changes.

In April 2014, regulation will pass from the OFT to the Financial Conduct Authority, and its head, Martin Wheatley, has promised to crackdown on abusive practices. In the meantime, the OFT has said payday lending would remain a top enforcement priority. In February it got the power to suspend a lender's licence immediately if it believed there was consumer detriment, and it can use this on payday loan firms if necessary.

The MP Paul Blomfield has introduced a private members bill to Parliament calling for controls on advertising and marketing, clearer information on costs, and caps on lending and charges, and the consumer minister has called an industry summit to discuss whether more regulation is needed.

How Payday Loans Work

During a routine car check-up, a service attendant announces to you that it will take $500 to repair your car. Normally, this cost wouldn't be a big deal, but this month you had to pay your income taxes, and you took a hit. To make matters worse, you're supposed to go on a road trip in a week. Where are you going to get $500 in time to get the car fixed?

You decide to head down to the place on the corner that advertises "Quick Cash Now." You've walked by it a hundred times but never had cause to go inside. You decide to give it a try. It's so easy! You're out the door in 15 minutes, and $500 will be deposited in your account sometime the next day. Sure, it cost you $50 in fees, but nothing beats that convenience, right?

Tengku Bahar/AFP/Getty Images
We could all use a little extra money. A payday loan could provide that money -- but it'll cost you.

That convenience is a $40 billion-per-year industry in the United States [source: Kirchoff]. This is the industry ofpayday lending, and it's served by more than 22,000 locations nationwide.

Booming Industry

In 2000, quick-cash companies in Washington State issued 1.8 million loans totaling $580 million. In 2004, with a large increase in the number of lending companies and locations, these numbers grew to 3.3 million loans totaling $1.2 billion [source: State of Washington].

In this article, we'll learn about the purpose of payday loans, as well as the drawbacks of these quick-cash offers.

The Purpose of Payday Loans

Payday loans are designed for people who need a quick injection of money before their next paycheck. The purpose of a payday loan is fast, easy money to take care of life's little emergencies.

A payday loan is a short-term, high-interest loan. The usual amount of the loan is between $50 and $500. You obtain one of these loans from a payday lender, a company that often offers other convenient financial services, such as foreign currency exchange, utility bill paying and license processing.

The process is actually quite simple. Here's the recipe:

• 
  Tim Boyle/Getty Images
  Payday lenders take advantage of banks' disadvantages.
  Visit a payday lender. These companies often have stores, but you can also apply by phone or online. Some lenders do their business strictly online.
• This is a no bank loan application. Usually the application consists of your contact information, banking information and employment information. The lender may ask you for the contact information of a few friends and family. The lender would call these references were you to not pay back your loan.
• Write a check to the lender for the amount you want to borrow, or, if applying online, pledge to pay the borrowed amount by a certain date. The lender will add the finance charge, or fee. Usually lenders express their fees in $100s. Paying $15 per $100 of loan is fairly common.
• The lender deposits the money in your bank account or gives you a check for the amount.
• The lender holds the check you wrote for the term of the loan, usually two weeks.
• When the term is up, the company cashes the check or debits your bank account. This pays back your loan and pays the lender's fee.
• Rollover: If you can't afford for that check to be cashed, you can roll the loan over into another term (usually another 14 days). The lender will tack on another fee.

Ease and convenience fuel the allure of payday loans. One of the biggest advantages that payday lenders have over banks is their flexibility. Payday lenders have more locations and longer hours than most banks. Some lenders, such as some Currency Exchange locations in Illinois, are open 24 hours a day. And when was the last time you saw a bank open on Sunday?

Bad Credit? No Worries

Payday lenders rarely check your credit. Coupled with the privacy and expediency of the process, this open-mindedness makes payday lenders very attractive to people with poor credit.

In addition, the loan application process is fast. You can usually be out the door, off the phone or away from your keyboard in less than half an hour. Furthermore, you get the money in no time -- if the lender doesn't hand you a check when you apply, the money is usually electronically deposited in your account within a day.