No. 1: Check your credit history. For those with good or existing credit, Detweiler advises seeking out loans with lower rates.“There may be alternative and cheaper sources of financing for you,” she says.No. 2: Read the Fine Print. Payday loans can sometimes come with 100% interest rates, according to Detweiler. “It may look like a small amount, but the fee is significant. There are triple- digit interest rates, not just double, so find that low-cost financing source.
Advice from Fox News on how to be better at borrowing money short term to make ends meet.