if you aint got it, dont spend it!
Having spent years digging myself out of a financial hole (thanks to my stupidity as a teenager), I agree with you. However, some people find themselves in a situation when they NEED to borrow a small amount of money for a short amount of time. To give an example, if my car broke down and I needed £200 to get it repaired and it was getting towards the end of the month, then I wouldn't have the money to pay for it. I would therefore look at borrowing it from a payday loan company until payday, when I would be able to pay it back.
In cases like this I can totally see the point of payday loan companies.
My cars bust, still wouldn't consider a payday loan for it, one, according to Paul Lewis, it destroys your credit score as proper banks and other companies see them as proof of having problems with your ability to look after your finances and secondly, if you cannot afford something one month the chances are you won't be able to afford it all next month, so you'll have to go back to your loan company and borrow more, then you'll end up borrowing Peter to pay Paul, it's not always not declaring what you have going out dishonestly it's just not thinking problems are ever going to effect you until it does, as both you and I know, I'll save up to pay for the car and then I know there will be no interest charged and no accidentally falling back into the money trap.
You can't buy happiness but you can buy a bike and that's pretty close
Sneaking in components behind hubbies back Shhhh!!!
1995 Marin Bear Valley SE
1988 Specialized Rockhopper Comp