The traditional way our financial system works is to earn money and then spend what you earn. With the increase in available credit, there is now a strong tendency to spend first and pay later. This might work okay if you have good credit. But if you have less-than-stellar credit, you might find yourself turning to non-traditional ways to obtain extra cash.

The tips in this section can help you understand these non-traditional companies that are becoming all too traditional. You'll learn about check cashing and payday loan companies, how they work, and why you need to stay away from them.

Tips, Tricks, and Answers

The following articles are available for the 'Non-Traditional' topic. Click the article''s title (shown in bold) to see the associated article.

   Avoid Check Cashing Companies
Using check cashing companies can be a big financial mistake. They charge you for cashing your checks, but you can often just go to a real bank and get them cashed for free. Why do that to yourself? Don't—just avoid it.

   Avoid Payday Loan Companies
Payday loan companies are a bad plan, my friend. They feed your impulse to spend before you have and charge you exorbitant fees for it. Avoid them and spend only what you have to spend.