How to get out of the $500 TRAP at those payday loan centers [View all]

People tend to borrow the limit of $500 and have to re-borrow every month because they cant afford a $500 hit on their salary.

Here's how I tell people to get out of the $500 a month borrowing cycle. Ask yourself what you CAN afford (I'll use $100 less a month as an example). The next time you go in only borrow $400 instead of $500. The time after that borrow $300, then $200 and then $100. Then don't go back. You are free and clear.