{"id":7834,"date":"2022-01-17T11:31:13","date_gmt":"2022-01-17T11:31:13","guid":{"rendered":"https:\/\/beta.homelessvoice.org\/?p=7834"},"modified":"2022-01-17T11:31:13","modified_gmt":"2022-01-17T11:31:13","slug":"three-financial-choices-that-are-hard-to-fix","status":"publish","type":"post","link":"https:\/\/beta.homelessvoice.org\/?p=7834","title":{"rendered":"Three Financial Choices That Are Hard to Fix"},"content":{"rendered":"

Whether you had a lot of money and lost it all, or have barely enough to manage, how you handle money matters. Smart financial choices are made by knowing the difference between what ideas help you, and which hurt you.<\/h2>\n

By Dori Zinn<\/em><\/h6>\n

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1. Payday loans<\/h3>\n

You might\u2019ve seen these storefronts while walking or driving by various strip malls. They\u2019re usually decorated with signs like \u201cGet money today!\u201d and \u201cNo credit check required!\u201d<\/span><\/p>\n

Payday loans are short-term loans usually for a small amount, like $500 or less, that get repaid by the borrower\u2019s next payday \u2014 anywhere from 14 to 30 days.\u00a0<\/span><\/p>\n

These types of loans have exceptionally high interest rates \u2014 upwards of 400%. It\u2019s very difficult for borrowers who are struggling to pay back the loan, with interest, by the due date. This causes many people to get into a payday loan cycle, borrowing more payday loans to pay off the old ones and racking up fees and interest charges.<\/span><\/p>\n

While some cities and states have outlawed payday loans, Florida isn\u2019t one of them. If you don\u2019t have a decent credit history \u2014 or much of any credit history at all \u2014 payday loans seem pretty enticing. You get money right away without worrying about how your credit score will hurt you. In turn, you can get into a vicious borrowing cycle.<\/span><\/p>\n

Instead, try some payday loan alternatives, like:<\/span><\/p>\n