As a recent college graduate, I’m carrying around a heavy load of debt in the form of student loans. With that, comes the junk mail with a side of junk mail, on top of more junk mail. I’ve recently started receiving weekly letters from various banks from which I hold a personal account or have borrowed from and enclosed are a set of blank checks with a heading that says “Write yourself a loan!”. I have to admit, it’s tempting sometimes, especially so close to the holidays, but whenever I feel the urge to use one of these checks, I just take a gander at the fine print and the interest rates shock me right back to reality!
The bottom line is, do not let the simplicity of borrowing money lure you deeper and deeper into debt. Be frugal, make your payments, and keep your head above water. If you need help, there a plenty of debt consolidation options out there and free services to help you. And the only type of deluxe checks you should be buying are the ones with cool designs for you to use in your check book!
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