https://padlet.com/mackenziegolden2004/24w15375jvi20wod en-us 2021-03-25 19:57:01 UTC 2021-03-25 20:33:30 UTC hello@padlet.com mackenziegolden2004 https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354812718 Describe in detail how you would navigate these financial situations: 

• pros and cons of payday loans vs. bank loans
• actions that bring down your credit score
• not paying your debt
• being underbanked or unbanked

]]> 2021-03-25 19:58:59 UTC https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354812718 mackenziegolden2004 https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354905813 Some pros of a payday loan is that using them may be a convenient way for consumers to get some cash who don’t have savings or a card. It gives money to consumers so they can pay off their debt until their next paycheck. Some cons about payday loans are that there’s risks of falling in debt, because they’re so expensive. The borrower also has to write a check, and receives a portion of it back. A quote from the iBook says “Payday loans are extremely expensive compared to personal loans.” (Credit & debit/unit 4/3). Some pros of a bank loan is that the credit unions are good places to shop, since they are more laid back with personal loans. If you don’t know your credit score before applying, though, you should check. A con about personal loans is that a loan inquiry will decrease your credit a bit. When applying, apply with an issuer you can trust. A quote from the iBook says “Many online lenders offer personal loans to people who have less-than-perfect credit but not all can be trusted.” (Credit & debit/unit 4/3). ]]> 2021-03-25 20:26:12 UTC https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354905813 mackenziegolden2004 https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354909725 Some actions that may lower your credit score would be such as having a lender who is not professional, or trustworthy. Also if the lender were to be pressuring you into spending your money on their loan, that’s a bad sign. ]]> 2021-03-25 20:27:29 UTC https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354909725 mackenziegolden2004 https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354922756 If you don’t pay your debt, then you’re going to be charged lots of money, and may get into trouble with your bank or lender. Being unbanked and underbanked means you’re vulnerable to to victims of payday loans. Both may be poor or don’t have financial resources to have a relationship with a bank. If you’re unbanked, it could be a possibility you were declined to have a bank account because of financial mistakes. Also if you’re young you may be underbanked, or unbanked. A quote from the iBook says “According to the FDIC data, about half of young people between 18 and 24 are unbanked or underbanked.” (Credit & debit/unit 4/4). ]]> 2021-03-25 20:31:52 UTC https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354922756 mackenziegolden2004 https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354926806 2021-03-25 20:33:09 UTC https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354926806 mackenziegolden2004 https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354927860 2021-03-25 20:33:30 UTC https://padlet.com/mackenziegolden2004/24w15375jvi20wod/wish/1354927860