It's the thing.

29 January 2014

Credit Ratings, Loans, and the ol' Catch-22

Today, I'm getting slightly pissed off at the system. (As usual at this point, I imagine.)

People familiar with me and my past entries know I'm not in the best of financial health. I lived waaaay beyond my means back in 2009-2012 and was relying on payday loans to pay off other payday loans, and it became a horrible, vicious cycle of debt. And most people would think I'd be immediately hostile to payday loan companies. It's actually quite the opposite. The advice I offer is;

"Don't be stupid
Play it sensible and don't borrow if you don't have to
And if you absolutely have to, don't borrow more than you do actually need."

Borrowing to buy a shiny? Don't
Borrowing because your car broke down? Can it wait?
Borrowing because you might be booted out because rent issues? Talk to the landlord first.