Me2 Money

Saving money for a house. It's tough, but I will find a way to save $20,000 to $30,000 for a down payment. Follow my blog and see how I am doing. I set the goal and now I must take action.

Saturday, April 15, 2006

Do not use Payday Loans

Today the local newspaper had a great article on payday loans. These are the companies that make a short term loan to people for a very high interest rate. In Canada there has been some law suits and the industry is under investigation. These companies charge such a high rate that some people end up taking other payday loans to pay off the first one, and get themselves into even more trouble. If you are looking for a short term loan think twice try to get the funds from any other source that you can. It is going to set you back far more then just asking a friend or family member to help out. If it is a last resort make sure you will be able to pay the money back when it's due.


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