Recently, I've been receiving countless calls from my credit card company with all types of offers to get ready cash, interest will be charged of course. That's when I learnt all these new terms such as payday loans, cash advances and personal loans.
A quick check on the internet educated me on these new terms. A payday loan or paycheck advance is a small, short term cash advance to cover a borrower's expenses until his or her next payday. How does one live beyond their means until these loans are required is actually beyond me, but anyway it's happening out there.
The discussion on payday loans are divided, with advocaters citing necessity of the loans, markets providing a service for the people, and also household welfare improvement as benefits. Haters on the other hand cites multiple issues which may worsen the financial situation of the borrower. A couple of the issues raised were aggressive collection practices and the high interests charged.
Another type of loan would be the Georgia title loan with up to $5000 in 1 hour. Do check out their website.
So what's your take on these loans? For me, I always feel that living within our means is the best way to live. I'm not denying that loans are a necessity in our modern lives, in fact I currently have multiple loans which I'm serving, home loans and study loans. But to take out personal loans or payday loans to live in luxury shouldn't be the way.
Taking a loan out to buy a house may be acceptable, but taking a personal loan to get yourself the latest Playstation 3, or an iPhone4 is slightly less acceptable. Always be wary of your expenses, and all should be well.
Nang My Innit Post Here!
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| Google Image of Payday Loan Stores |
A quick check on the internet educated me on these new terms. A payday loan or paycheck advance is a small, short term cash advance to cover a borrower's expenses until his or her next payday. How does one live beyond their means until these loans are required is actually beyond me, but anyway it's happening out there.
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| An online payday loan website |
The discussion on payday loans are divided, with advocaters citing necessity of the loans, markets providing a service for the people, and also household welfare improvement as benefits. Haters on the other hand cites multiple issues which may worsen the financial situation of the borrower. A couple of the issues raised were aggressive collection practices and the high interests charged.
Another type of loan would be the Georgia title loan with up to $5000 in 1 hour. Do check out their website.
So what's your take on these loans? For me, I always feel that living within our means is the best way to live. I'm not denying that loans are a necessity in our modern lives, in fact I currently have multiple loans which I'm serving, home loans and study loans. But to take out personal loans or payday loans to live in luxury shouldn't be the way.
Taking a loan out to buy a house may be acceptable, but taking a personal loan to get yourself the latest Playstation 3, or an iPhone4 is slightly less acceptable. Always be wary of your expenses, and all should be well.
Nang My Innit Post Here!
About Isaac Tan
Thank you for reading this post. I hope you enjoyed reading this as much as I enjoyed writing it. My name is Isaac Tan and I cover mostly on lifestyle events with emphasis on happenings in Kuala Lumpur, food reviews, movies, tech and more. Subscribe to my feed and my facebook page. Do follow me on Twitter too at @isaactanjs , contact me via my email at isaac.tan[at]gmail[dot]com
9 Comments:
Isaac, first I nvr wanna give my handphone number to this type of credit card company. LOL! Plus this company looks like a modernised "ah long" or loan "shark" business one LOL! didn't know now they use insider credit card ppl to do business lol
i don't like to loan to buy personal stuff..
Did u see the advertisement on TV about taking loan to bring mother traveling? That is more ridiculous!
Isaac, first I nvr wanna give my handphone number to this type of credit card company. LOL! Plus this company looks like a modernised "ah long" or loan "shark" business one LOL! didn't know now they use insider credit card ppl to do business lol
Lol, thanks for visiting bro. :) It's a modern ah long seriously.
Its good you think this way Beelee. :)
Seriously? There's an advertisement like that? >< haven't been watching TV for quite some time.
surprising enough I had a thought of writing a similar thing like this a while back, but never got to do it...
tehtarikmemoirs.com
Never ever loan moneyyyyy!! Dangerous!
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