It's the first of the month. Bills are due, and you barely have
enough gas to make it to the pump. Over the next two weeks,
you'll need to borrow $100.
If you're strapped for cash, you have a couple options. You can
overdraw your checking account at a local ATM, add $100 to your
credit card debt (let's assume a heavy-hitting cash back credit card with a 29.99% APR
), or get
a payday loan from Cash America. Given everything you've heard
about credit card debt (mainly, don't do it
), you'd think
that your best option is to stick with your trusty checking
account. The math, though, says otherwise.
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