Money Manifest

Payday Loan Tree

PayDay(Pack of 1) $66.99 PayDay The classic Game of Making and Spending Money! You’ll make money every month, but you might spend it just as fast! Included game board, 4 tokens (red, yellow, blue & green), 1 red die, 64 deal & mail cards, savings & loan pad, money

Payday $10 Payday – Thad Reid feat. Range

Payday Classic Edition Game $14.99 Classic games from then and now! Plan a family game night! Everything you need to play! The classic Game of Making and Spending Money! You’ll make money every month, but you might spend it just as fast! Includes game board, 4 tokens, 1 red die, 64 meal and mail cards, savings and loan pad, play money and rules. Ages: 8 and up Players: 2 to 4.

Today Is Payday $10 Today Is Payday – Kiotti

The Truth Behind the Top Payday Loans Myths

With the increasing popularity of Payday loans it is little wonder that the myths have started to materialise about them.
It is not uncommon for this to happen when something gets a lot of media attention.
The thing is, however, that when you examine the myths more closely you begin to see that this is exactly what they are – just myths.

The following are 5 of the more popular myths doing the rounds at the moment.

1. Extortionate Interest Rates

This is the more popular one of all the myths. It is claimed that the interest rates are too high, and that payday loans are too expensive. Most myth mongers quote the ridiculously high APR’s associated with payday loans. The problem with this is that an APR is used to calculate interest accrued over a 12 month period. This makes an APR pretty irrelevant. A payday loan is not designed to run over 12 months, more likely 7 – 31 days. Because of this, using an APR for payday loans is a nonsense. If you are looking to take out a payday loan, ignore the APR and look at the amount that you have to pay back instead. You will get a much more realistic understanding of the cost of the loan.

2. Payday Loans Companies have lots of hidden fees.

This myth revolves around the fact that the terms and conditions set out by payday loan lenders are intentionally meant to confuse the borrower. This is completely untrue. Payday loan lenders are totally upfront making it obvious to the borrower what the charges will be and how much they need to repay. This leads to there being no hidden charges or costs when it comes to repaying your loan.

3. Payday Loans Should Only Be Used In Emergencies

There is good reason for this myth to exist as a lot of people do turn to payday loans in times of cash emergencies. However, the truth is that you can use a payday loan for other purposes, such as buying a gift, holidays or any other reason where a few extra pounds would come in handy.

4. Payday Loans Lock People Into a Continual Debt Spiral

It has to be understood that when you take out a payday loan, you need to be in a position to pay the money back at the agreed time. You should not borrow money if you have no intention of, or will find it difficult to repay the loan on time. If you follow thes rules you should have a trouble free loan. Only ever use a payday loan as a short term borrowing option. They should never be used for long term borrowing.

5. You Need To Have a Clean Credit History

This is a myth put about by people with no idea whatsoever of how the payday loans industry functions. Payday loans are available for people with a bad credit history. Quite a lot of companies do not even do a credit check. Because of this, applicants that would normally be turned down for a loan elsewhere, are able to get credit. The lender is reasonably protected as the loan is secured against the applicant’s salary or wages. It is more important to the lender to see your ability to repay the loan as opposed to any problems that you may have had in the past.