Author Topic: millenials turning to pawn shops and payday loans  (Read 2802 times)

Mr Mark

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millenials turning to pawn shops and payday loans
« on: June 15, 2013, 03:50:48 PM »
http://www.foxbusiness.com/personal-finance/2013/06/14/making-ends-meet-millennials-turning-to-pawn-shops-payday-loans/?cmpid=GoogleNewsEditorsPicks&google_editors_picks=true


Advice from Fox News on how to be better at borrowing money short term to make ends meet.

Quote
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.




Nords

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Re: millenials turning to pawn shops and payday loans
« Reply #1 on: June 15, 2013, 05:16:36 PM »
Advice from Fox News on how to be better at borrowing money short term to make ends meet.
I'm glad Fox is educating a new generation on how to use these lenders.  We get some of our best shopping bargains at pawnshops.

As for Gerri Detweiler, she's a writer and the host of a syndicated radio show on personal finance.
http://www.credit.com/about_us/experts.jsp
You can listen to her podcasts on Talk Credit Radio:  https://itunes.apple.com/us/podcast/talk-credit-radio-gerri-detweiler/id433203962

I've met her at FinCon12.  She's not trying to entice millennials (or anyone else) into debt.