Episode 30: Money traps that can Keep YOU Broke

• Brief Summary of objectives (3):
• Loans
• Charges/fees
• Scams
• Money Traps that Keep You Broke
• Topic 1: Loans
• Emergencies happen sometimes for quick and easy loans… this can be easy loans like a payday loan (borrowing money against your next paycheck – you can look at 300% more than what you are borrowing)
• Pawn Shop Loans – you have to pay it buy the time period or your item will be offered for sell
• Tax refund anticipation loans
• Car title loans – amount of the loan is less than the car.  
• Topic 2: Charges/fees
• High interest rates
• Overdraft and late payments can cost you a lot of money
• Late Payments and charge you an interest
• Topic 3: Scams
• Topic 4: Credit Cards
• Paying off the statement balances each month, not just paying the minimum payment

Think , Plan & Use what you have…

• Call to action: Know what you are doing
• Resources and where to connect.
• [email protected]
• Facebook – UAEX White County
• IG/Pinterest – katiecullumuaexfcs
• Website: https://www.uaex.uada.edu/life-skills-wellness/personal-finance/
• Money traps - Cash Crisis - Money Traps That Keep You Broke FCS725 (uada.edu)