Only $300 Payday Loan, Right?As far as payday loans go, the new generation seems to have learned something of a lesson from the past one. Personally, I don't ever get payday loans because I’m afraid I won’t be able to pay off my payday loan account on time. A good friend of mine, however, got a payday loan from a service. It was only for three hundred dollars, so she figured it wouldn't get her into too much trouble. Wrong. Two months later and she's four hundred dollars in debt to the payday loan service. To help her out, as part of a Christmas gift her mother called the payday loan service to make a payment on the payday loan account. Because she used the phone to make this payment the payday loan service charged her ten dollars to the already over drawn payday loan account. Gee wiz, imagine a payday loan service doing something like that. Luckily for my friend she's got generous grandparents that ended up giving her 2200 dollars for finishing her first two years of college and she was able to not only pay off her payday loan but finish out her car payment as well. I guess I feel as though this is a little unfair considering the fact that I, the responsible student that never got a payday loan, am in the hole on money and can barely make ends meet working forty hours a week at a dead end job while trying to get through school. The moral of the story is this: being hard working doesn't usually pay off. Being an idiot with your checkbook doesn't either, which includes using your payday loans stupidly, even if it is only three hundred dollars. What pays off is having some older and wiser figure in your life that has some dollars to drop on your head when you get to far into debt with your payday loans. I guess Paris Hilton was right when she wrote her book on how to become an heiress - in which she states that the first and most important step to becoming a wealthy, worthless heiress is to “pick the right parents before you're born”. |