https://padlet.com/emily_schneck/k7ffjykiagnh en-us 2018-02-03 14:23:02 UTC 2018-02-03 14:53:26 UTC hello@padlet.com emily_schneck https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227753457 Recently, my family had to buy a new car because my car's engine stopped working. If I was on my own and had to do this, and my budget was tight, I would have to take out a car loan.  I would chose to use a loan from a bank because it would most likely take me a while to pay it back. Taking out a car loan from a bank would be a better choice for me because it has less risk than a payday loan.]]> 2018-02-03 14:24:20 UTC https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227753457 emily_schneck https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227753478 There are multiple ways to create a plan. One way is to make a budget. Making a budget can help prevent you from buying things that you cannot afford. List all of your fixed and flexible expenses, as well as your income. Using a computer software can also help you create a realistic budget (page 8). Another option is use a debt relief service. These services can help you get out of debt.]]> 2018-02-03 14:24:32 UTC https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227753478 emily_schneck https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227754135 Depending on the type of debt you are in, the results of being in debt can vary. If taking out a payday loan, you could face high penalties for late payments or have to keep taking out payday loans for a long time. You could also lose your home or have a bad credit report (page 9).]]> 2018-02-03 14:32:31 UTC https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227754135 emily_schneck https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227754719 Bankruptcy can result in other types of consequences. If you file for bankruptcy you receive a court order that says you do not have to pay any debts (page 9). The results of filing for bankruptcy can be impacted credit, denied applications, paying higher interest rates, and having a hard time getting a job, being sued, and not being able to buy life insurance or a home (pgs. 8 & 9).]]> 2018-02-03 14:39:01 UTC https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227754719 emily_schneck https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227755902 If the car I bought cost $4,000.00, I would take out a car loan from a bank. A reasonable monthly payment would be around $100 a month. I would pay this loan back in about 4 years and would have to pay around $600 for interest.]]> 2018-02-03 14:50:52 UTC https://padlet.com/emily_schneck/k7ffjykiagnh/wish/227755902