https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu The pros and cons en-us 2022-11-28 05:19:37 UTC 2022-11-29 04:44:44 UTC hello@padlet.com taahirahbandoo1 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399684648 Hello, and welcome to our wall.
We will be covering about the pros and cons of Payday Loans/Cash Money. We hope these posts are insightful to you and can further your knowledge.]]> 2022-11-28 05:29:48 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399684648 taahirahbandoo1 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399703340 This video starts from talking about what a payday loan is to how payday loans could look in the future. In part of the video, he talks about the CBC Marketplace channel talking about high interest rate loans. They went to a cash loan store and told a customer how they could pay off their $6000 loan with payments every two weeks within the span of 3 years. However, what they failed to mention to the customer was that they would also have to pay back the interest within that span of three years making the total paid back being over $11,000.

I chose this video because it talks more into detail about the history of payday loans. It also gives future tips at the end on what could potentially happen with payday loans and tells us about how vulnerable people can be when it comes to loans.]]> 2022-11-28 05:52:01 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399703340 taahirahbandoo1 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399719217 This video talks about the pros and cons of payday loans. The pros of payday loans listed in the video are:
- Easy Application
- No Strict Requirements
- No Credit Check Needed
The cons listed in the video are:
- High Interest Rates
- Time Constraints
- Collection Practices

I chose this video it tells you both pros and cons about payday loans. It's simple to follow, short, and it has some great points like how he mentions that payday loans are "quick cash loans with high interest rates since it proposes a high risk to the lenders".]]> 2022-11-28 06:10:07 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399719217 taahirahbandoo1 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399726337 1 in 3 Canadians are using their paycheques in full, and are even spending more then they make. This is where the "quick, easy and fast" payday loans come in handy for some people. ]]> 2022-11-28 06:18:06 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399726337 taahirahbandoo1 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399767467 This website talks about E-transfer payday loans. A fast easy way to get money when you need it for an emergency. It gives you definitions of different payday loans such as iCash, MoneyMart, CashMoney, etc. This website also provides the cost of payday loans for each province which I found insightful. 

I chose this website because it has alternatives to payday loans and gives you information on how to apply for a loan, as well as the pros and cons of payday loans.]]> 2022-11-28 07:10:04 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2399767467 taahirahbandoo1 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401013633 This website talks all about CashMoney. 
In this website the author covers topics like the services that CashMoney offers, the procedure of loan applications, the pros and cons of using CashMoney as well as customer reviews and complaints. 

This website is good to consider taking a look at before you decide to use CashMoney. I like how the author of the post decided to include things like reviews as well as talks about things like installment loans, line of credit and payday loans.]]> 2022-11-28 23:08:52 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401013633 taahirahbandoo1 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401040121 1. What did you learn about your topic that surprised you the most?

What I learned the most about my topic is that CashMoney has an annual percentage rate being 46.93% and it does not change regardless of the bank that you are with.

2. Provide a real-life example of how this topic is relevant or interesting for you.

I think that this topic is interesting to me because I now know how CashMoney leaves out alot of information when they advertise themselves making people who are more vulnerable, to gain attraction to them (if you saw a sign outside that said "get $200 for $20")

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

If i was to pass my knowledge to a friend or a family member, I would tell them that even though it might seem like a helpful thing to get fast easy money, you will have to pay that high interest on top of the loan you are borrowing within a time span that could be around 6-60 months.]]> 2022-11-28 23:48:44 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401040121 akshayanraj44 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401280595 This video is about how Canada Post will give out loans in times of need like payday loan services. It goes to say how it working to TD to do so and why they are doing this.

I chose this video as it shows how even the biggest corporations will do the most shady things in order to make money. I found it interesting how it was because of COVID that cause them to do this. Since COVID kept businesses from staying open, flyers and other physical advertising would not be shipped out via mail, causing Canada Post to lose money.   ]]> 2022-11-29 03:36:47 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401280595 akshayanraj44 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401281425 This video is about how terrible payday loan places are and how they keep the poor, poor. The video shows someone reacting to someone getting screwed over by a payday loan place and how they go undercover to find out how these places work.

I chose this video as it shows how these establishments work and how it was helpful to hear from someone who was educated in the topic to react to it. I found it interesting how he gave helpful tips on how to know that these places will scam you out of all the money you have.  ]]> 2022-11-29 03:37:46 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401281425 akshayanraj44 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401289251 It is marketing ads like these that bring in desperate people that are in need of money but have no idea of the amount of interest that will be brought upon them. Making them in debt for the long run.]]> 2022-11-29 03:46:44 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401289251 akshayanraj44 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401294471 The website explains the statistics of payday loan establishments across Canada and how many poor Canadians are paying terrible interest rates with these loans.

I chose this website as it thoroughly explains how people come across them, how they became a thing, and how it will do you worse than better. I found it useful to hear from the president of the payday loan association so that we can get an inside scoop of how they see things than to us.   ]]> 2022-11-29 03:53:04 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401294471 akshayanraj44 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401297086 This website explains what payday loans are, how they work, and what are the necessary steps in order to obtain one in Canada. 

I chose this website as it comes from the government of Canada which tells me that it is 100% approved establishment that you can get a loan from in the country. They warn you about the high interest rates, when to pay them and what happens if you don't. I found it interesting that they put all this effort into teaching you on how to obtain a loan from a payday loan place instead trying to shut these places down.
 ]]> 2022-11-29 03:55:58 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401297086 akshayanraj44 https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401300758 1. What did you learn about your topic that surprised you the most?

What I learned about my topic that shocked me the most that fact that Canada doesn't do anything to stop them but instead more allows it by helping Canadians understand how it works and how to apply for one. 

2. Provide a real-life example of how this topic is relevant or interesting for you.

I am currently living in an era where inflation is at an all time high and how one job might not cut it anymore. Without the knowledge of what a payday loan is, I could easily be manipulated into falling for their tricks as I would be desperate for some quick cash to pay for rent, food, etc.

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on? 

I would pass on the info on how terrible the interest rates are and if they are still confused, I would breakdown what interest rates are and how payday loan interest rates are bad.  ]]> 2022-11-29 04:00:29 UTC https://padlet.com/taahirahandakshayan/8c45p63xixk3yayu/wish/2401300758