Financial Cents: Posts About Payday Loans


What’s Worse: An Overdraft Fee or A Payday Loan?

You'd think that a payday loan would be much more treacherous than a service offered by your bank, right? The answer may surprise you.

Posted on: February 27, 2018



The CFPB’s New Payday Lending Rule is a Big Win for Socially Responsible Lending

Learn more about how the rule works, who it will affect, and how consumers stand to benefit.

Posted on: October 13, 2017


How to Money, Episode 6: What is a Payday Loan?

It’s October, which means it’s time to get a little scary. That’s why our new episode of How to Money is focused on one of the scariest financial products there is: payday loans!

Posted on: October 04, 2017


5 Alarming Payday Loan Statistics

This mind-boggling data on payday loan affordability, loan rollover, and APR will make you think twice before borrowing.

Posted on: September 22, 2017


Know Money, Win Money! Episode Two: Payday Loans

If some weird guy came up to you on the street and promised you cash for answering questions about payday loans, would you say yes? See how these regular people fared on episode two of Know Money, Win Money!

Posted on: August 24, 2017


What’s the Difference Between a Payday Loan and an Installment Loan?

When it comes to borrowing, two of the most common options are a payday loan and an installment loan. One is a dangerous debt trap designed to make your financial situation worse, the other is a safe, credit-building financial solution. Learn the important differences here.

Posted on: March 30, 2017


What is the Payday Loan Debt Cycle?

You've heard that payday loans are dangerous. But what are the specific risks and how can you avoid them? Learn how payday lenders try to trap you in a cycle of debt.

Posted on: March 22, 2017


Payday Loan Rollover: How Short-Term Loans Turn Into Long-Term Debt

Payday loans can destroy your personal finances. But how do they do it exactly? Through a uniquely predatory practice called rollover, supposedly "short-term" payday loans become long-term debt traps. Here's what you need to know.

Posted on: February 10, 2017