| Beth comes home needing a loan because her car broke and it cost $500 to fix |
|
 | Dad can you please help a poor student out with a loan for my car? | |
|
| Beth I can't always pay for your major expenses you need to learn how to get a real loan from a bank. | |
|
|
|
|
|
|
| But there's different types of loans and I don't know how my credit is and it is all so confusing. | |
|
| Well you could get a payday loan that will hold you over until your next paycheck but then you'll need to pay it off with that paycheck or you could get a personal loan from a bank that has a fixed interest rate and a fixed repayment period | |
|
|
|
|
|
|
| I think I would prefer the personal loan from a bank. | |
|
| That's a good choice, it won't have such a high interest rate and you'll be able to manage those payments and not need to go deeper in debt. | |
|
|
|
|
|
