The only time using no fax payday loans will not save you money is if you will not have the money to pay back the loan. These loans have a strict repayment period, which typically is once you receive your next paycheck. If you use these loans when you have larger financial problems, you only will be digging yourself deeper into debt. This is why it is important to only use the loans for emergency situations and for the exact amount that you need. It is tempting to take out a larger loan to have extra money, but you have to remember that you have to pay it back.