So you've came here for a $500 payday loan. You are probably short on cash or you need a quick boost in funds to buy a nice present for christmas. Maybe you need more money for a ring because you want to propose to your future-wife and it would be nice to have a gold ring with a big, shiny diamond?

It is not important on which things you want to spend your money on - the most important thing is - you can do anything you want with it. It can be used to buy food, electronic gadgets, repay an older debt etc.

Use your imagination and you will come up with dozens of targets for this new money. In the times of mindless spending by angry customers, many people use loans to improve their social status. College freshmans buy new generation phones or iPhones, expensive clothes, some of them come as far as even buying a new car - all for loans.

But can you afford a loan? Will you be able to repay it in the future? Is your job secure? Will you be able to pay monthly repayments?

All those questions need to be answered to ensure that you will have a safe lending process. To not let people drown in debt, banks and other institutions perform so called credit-checks. This process is all about calculating your ability to repay short-term loans. If, from calculations, it looks like you won't be able to come up with a monthly dose of money - bank will not lend you a cent. Why would they want to do that?

If you are not able to pay back, banks can come up with even a foreclosure - they can take your car, phone, cat or even your house. It would be a sad thay for you, your family and friends.

Because of previously mentioned reasons, it is wise to allways think-through every decision regarding your financial stability. You don't want your kids repaying your debt because you have taken too big leverage in the past? (Unless you hate your kids) Because in America, the land of opportunity, if you have a debt and you die, your kids will have to pay it back. And if they won't be able, that demand will have to be fulfilled by your grand-kids and their kids etc.

Do you want to start a generation of homeless people with a debt on their accounts? Me neither.

So, sit down, call your friends - ask them for help and opinion and then take a big payday loan. Receive the funds, spend them and think about how you need more cash for more useless gadgets. I do not want to be a mindless consumer so I never use financial leveraging. If you have enemies and want to ruin them - advise them on the leverage - in six months straight, they will be kicked out of their house.

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