Episode two - payday loans trusted
Know everything about money, and win money! Episode two: The contest
about knowing moneycontinues!
Greetings to all fans of money and cash, nicely weighting your wallet. Today we held the second stage of the drawing of money in the contest "Know money, win money".
The essence is simple - we ask people questions about money. If they answer correctly, then we give them money! That's so easy you can make cash! We hope that the winners did not spend this money to pay their loans. And if they did, let it be the last installment before paying out the entire loan!
So, what happened in this episode? Read our full report:
The first question in our monetary quiz was simple - what is the average term of payment for a short-term "up to pay" loan? How much time can pass from the moment of taking to the moment of payment of the amount + rate + interest? All those who answered that the average term is only two weeks - well done. It turns out that with such a short period of debt repayment, many are forced to:
Renovate the loan agreement - as if to reset your credit again. And this was the second question of our contest. Many knew the right answer - in this case, you have to pay for the extension of the loan term, and therefore get into an even larger debt hole. About this service, we wrote a lot in our blog, so finding information will not be difficult for you.
Before the third question, we explained that on average, a
short-term "up to pay" loanhas four hundred! percent per annum. And they asked what APR means. Not many knew that this is the amount of annual interest, describing the full value of the amount taken from the lender, which includes all fees and possible interest. This knowledge will allow more accurate and careful selection of loan products for their urgent or daily needs.
And the last question we asked was: What are the differences between "up to pay" loans and credit installments? The answer was in the very name of the loan. Installment allows you to repay the amount taken in installments, which protects you from the debt circle. With such a loan it is quite possible to manage your finances and not be afraid of growing debts.
Now you know much more about money! And everyone has the opportunity to meet us on the street, and play our exciting game "Know money, win money." You can get a good increase for your knowledge, and help others learn about money more!
But before that, do not forget to read the report of our first game!