Here is an interesting article on Money Sense about how Payday Loans work and some alternatives that groups have come up with to help people get lower cost loans.
Personally, I would never get a payday loan. I have a budget. I use a budget to ensure that I am spending my money on what I want to spend my money on. I first list all the stuff I have to pay for. I then list what else I want to spend my money on and decide on their priority. I always pay my credit card off every month and I use my credit card to purchase just about everything. If I need extra money, I have a line of credit set up and I can get money from that.
On my other blog I wrote yesterday about McCoy Global Inc (TSX-MCB, OTC-MCCRF) ... learn more. Next, I will write about Power Corp of Canada (TSX-POW, OTC-PWCDF) ... learn more on Friday, May 13, 2022 around 5 pm.
This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.
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