Wednesday, April 23, 2008

Payday Loans

So, I'm looking over my page and I'm seeing the google ads that I've allowed to be posted up. They change from time to time, and supposedly are to be relevant to my blog. Well, obviously, the blog being new, its hard to guage the relevancy as of yet, so I'm getting random ones. I see my top ad about homeschooling, and then at the bottom, the leaderboard is ful of payday loans. Now, if there was ever a tool of the devil, these would be them. I admit I have taken advantage of these services in the past when I was in financial distress, and needed a holdover until my folowing payday. The interest rate on these things is astronomical. Thank God they have a maximum borrowable amount. The people suffering from the housing crunch deal because they got overextended in their credit with no way to pay it back have it easy, interest rate wise....only double digits! If I extended my payday loans out over time, I'd have found mysef paying multiple hundreds of percent in interest. I have known some people who took advantage of the loan services, and then found themselves writing out more checks from other places to cover the initial loans. That is just absolutely crazy. I almost fell into that trap at one point. When your income is only so much, and emergency expenses start piling themselves into your life, it's easy to get caught up in a never ending circle of debt. I wasn't even living the highlife in comparison to anyone but a homeless person. Eventually, I had to sit down and take an honest look at my situation, and figure out how I was going to get out of it. I didn't have the option of asking relatives for money (and even if I did, stubborn pride would prevent me from doing so), and I highly doubt the legal system would let me claim bankruptcy over a few hundred bucks in payday loans. Luckily I have moved past that stage. Yep, graduated into CREDIT CARD DEBT!! YAY!!! Slowly I work to pay that all off too, so I can get myself into havng the available credit when its needed for emergencies, or when going on a long trip and hotels require it as a security deposit. I needed them at one point when I became the only income in the house, but now that my wife makes more money than me, it's just a matter of paying it all off now. One paycheck at a time......And the car gets paid off in October! So i'll be able to throw even more money at my debt, as well as save some of it, so that I might again live in a two car household. I'm getting tired of having to walk everywhere during the day when I absolutely have to go run an errand while my wife is working. Personally, I blame our singel car family lifestyle for the downfall of a certain little hole-in-the-wall restuarant called South Philly's, which served up the greatest Philly Cheesesteak Sandwiches (other than those that I made while cooking at a little hole-in-the-wall cafe in southern Missouri) in the world. I'm pretty sure I was their most regular customer. Then one day, my wife has the day off, I drive over for a well deserved (not sure what made me deserving, but I'm sure I can find some excuse!) Philly, and BAM...all boarded up. So I am philly cheesesteak sandwichless. I'm willing to take on a mortgage to pay someone to come over and make me good ones.....just let me go over to the payday loan stores and I'll have your money!
On a birthday is coming up in 4 days......if you're interested in getting me something, look at my links to the on Wide of his recent blogs features a book..."Contrarians Guide to Knowing God". I promise I won't turn that gift down!! (Hint hint! LOL)

No comments: