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Picture this: It's the end of the month, and you're anxiously waiting for your next paycheck. An unexpected expense throws your budget off balance, and you're desperate for a solution. Enter the payday loan, seemingly a saving grace in your time of need, promising immediate relief.

When we find ourselves in financial strife, it's tempting to look for a short-term fix – sometimes it’s payday loans; other times it’s through wage advance apps. But whichever you choose, it can cost you big time.

As we emerge from the season of indulgence and look ahead to the new year, we all know what’s next.

We can see the advertisements to ‘lose those Christmas kilos’ before they even arrive, luring us into gyms, booking sessions with a personal trainer or signing up to the latest fitness app.

And, because we all want to start the new year on a good note, we’re even more likely to sign on the dotted line than usual. But is it worth it?