What do payday loans, payroll, car loans, and lenders have in common? These are all alternative financial services, sometimes referred to as "ancillary" banking services. Entities other than the Federal Insurance Bank and Credit Union provide alternative financial services. These services fill the gaps in the main financial system. 

They do this by offering consumers small dollar loans with short-term or no waiting periods. Payday loans and similar services provide temporary support to many individuals and families who need them to make ends meet. Unfortunately, the costs associated with payday loans and other alternative financial services are high. This can lead to an endless cycle of debt for individuals and families. 

Experts say the best way is to avoid these alternative financial services altogether. However, if this is not possible then you should endeavor to treat them to your liking. Once you control "fringe" creditors, you can start saving and building wealth for your family's future.