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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Avoid Mystery Meat Lenders
Public schools sometimes serve a ground ‘meat’ patty covered in gravy for lunch. It looks like meat but it is often difficult to identify the primary ingredient.
It is known as ‘mystery meat‘ and, with enough gravy, it doesn’t taste that bad.
In the consumer loan industry, there are ‘mystery meat’ payday lenders. Unlike the school lunch, however, mystery meat lenders should be avoided at all costs…
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Avoid Lenders with No APR Disclosure
When searching for a payday loan, avoid lenders who do not disclose Annual Percentage Rate (APR).
Lenders who try to hide APR are unethical. Would you enter into an important financial transaction with an unethical company?
In order to see why APR is important, we should have an understanding of what APR is and why it was created…
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