Payday Loans

drbesty

Maxipep there's a good chance you can't get either a credit card or a loan, so not having either is nothing to boast about, if you are relying on payday loans to get through the month then your finances are out of control

CHR15

For pitties sake maxipep, if you are obtaining and clearing payday loans, you are giving away a lot more of your cash away when you could be using your £0 balance credit card.

If you are the good payer you claim, you would be incurring Zero interest on your credit card over the same period.

I don't think you are grasping the message...

wr1ght

i used payday loans once borrowed £80 paid £100 back done it through topcashback and got £50 cashback, wouldnt touch them with a bargepole otherwise

Matt16v

People who say that people that use Payday Loans aren't a good manager of their finances make me laugh. If you take out a payday loan and pay it back on time no problem while leaving yourself enough money for other expenses and outgoings then you are a good manager of your finances. If you take out a payday loan when you can't afford to pay it back, or end up with 9 of them at the same time then you are a bad manager of your finances. There's a big, fairly obviously to anyone with some common sense, difference!!

viktory

wr1ght wrote: »

i used payday loans once borrowed £80 paid £100 back done it through topcashback and got £50 cashback, wouldnt touch them with a bargepole otherwise

Same here. Was hoping to do the same again, but sadly the offer has not been repeated.

CHR15

Matt16v wrote: »

If you take out a payday loan and pay it back on time no problem while leaving yourself enough money for other expenses and outgoings then you are a good manager of your finances.

I think that is open to dispute...

As in wr1ght's example above, borrowing £100 and paying back £120 can never be seen as a shrewd move.

Managing finances is about getting the most for your money, making your assets go as far as possible, not throwing £20 away needlessly, it isn't only about going overdrawn.