A payday loan is a high-cost, short-term loan based on a borrower's income.

Sometimes it is hard to say "no" to a friend or family when they ask to borrow money, even when we don't have it to let them borrow. Listen, you can't give away what you don't have. You will in turn put yourself in a bad financial predicament.

Research has estimated that 49% to 79% of Americans are living paycheck-to-paycheck. Part of the financial struggle is having to borrow money or rely on the predatory economy, including payday lenders, title loan services, and pawn shops.

Millennials are the side hustle generation, using side jobs to help push through the well-documented financial challenges that we inherited. Side hustle life is not easy, but it pays to focus on the big picture when grinding gets hard.