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felecia187

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Tuesday, January 21, 2014

felecia187 the letters are big so you can hear me ,the truth about money stores or , check cashing stores so you need money you go to the money store and barrow it . so lets say you barrow $100.00 dollars you now owe $120.00 , now on your next pay day you now owe $120.00 you real only got $100.00 now lets say the money store tells you need to purchase a credit card from them to put your $100.00 on you say ok , now the money store is going to sell you the card for a fee of $10.00 to activate it so now you only get $90.00 instead of the $100.00 you needed , oh this gets better yet now they don't tell you that for every time you use the card you have to pay for the debt transaction which every credit card charges so lets say $0.50 and that is for your purchase from a store bought item , now you want to get money from your card for what ever reason , so now you go to the ATM and make a withdraw now you have to pay an average of $2.00 per transaction so lets say you use the ATM ten times and the store purchase two times , now lets look at the math you borrowed $100.00 you owe $120.00 ten ATM $20.00 and two store purchases for $1.00 total you now just gave away $21.00 and you owe $20.00 more for borrowing total loss $41.00 which means you only get $59.00 for the money you borrowed so for the $100.00 you borrowed you now owe $141.00 on your next pay day so my question is do you still need to give all that money away or should you start managing your money better , because your making the money store richer as you get poorer , enjoy        

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