Avoid Payday Lenders Like the Plague (Video)

Payday lenders position themselves as an alternative to an emergency fund. You’ll hear them say things like, “We can help you pay for car repairs, holiday shopping, or unexpected expenses.” This “help” comes at a very steep price: over 600% interest! Here’s an actual example that I got from a well-known payday lender’s website: Borrowing $800 for one pay period …