Repay Early
Payday loans are short-term, high interest loans.
If you use them as long-term loans, the interest will soon exceed the principle of the loan.
If you repay early, though, you could save money…
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Shop Around
Payday loans are intended for emergencies.
Some predatory lenders take advantage of this by charging outrageous interest rates or including hidden fees. They know people suffering a time-sensitive financial crisis usually do not have time to shop around.
A small difference in fee, however, can mean a huge difference in total cost.
It pays to shop around…
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Use Only for Emergencies
Payday loans are short-term, high-interest loans intended for emergencies.
They are the most expensive form of credit available and, even in emergencies, should only be used as a last resort.
Pain awaits those who follow the sweet invitations of unethical lenders and try to use them otherwise…
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