3256: Payday Loans vs. Credit Cards by J.Money of Budgets Are Sexy on Smart Money Management

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 22 August 2025

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3256: J. Money examines the high costs and hidden traps of both payday loans and credit card cash advances, weighing which is the lesser of two financial evils. While both options carry steep fees and risks, he ultimately sides with credit cards for their transparency and flexibility, though he stresses that neither should be your go-to for quick cash. Read along with the original article(s) here: https://budgetsaresexy.com/payday-loans-vs-credit-cards/ Quotes to ponder: “Payday loans are extremely expensive compared to other cash loans.” “Consumers have an average of eight to thirteen loans per year at a single lender.” “In conclusion, they both suck and should be avoided like the plague.” Episode references: Consumer Federation of America: https://consumerfed.org Debt.org - Predatory Lending: https://www.debt.org/credit/predatory-lending Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Race the rudder, raise the sails, raise the sales!
0:05.0	Captain, an unidentified ship approaching. Over.
0:07.0	Roger that. Wait, is that an enterprise sales solution?
0:13.0	Reach sales professionals, not professional sailors.
0:17.0	With LinkedIn ads, you can target the right people by industry, job title, and more.
0:21.4	To get £100 off your first campaign, go to LinkedIn.com slash lead to claim your credit.
0:26.6	That's LinkedIn.com slash lead. Terms and conditions apply.
0:30.1	Where do you find a clear signal in a world of static? In a time of rapid change, cut through the noise.
0:36.3	The economist goes beyond the headlines to decode the forces shaping today and defining tomorrow.
0:42.8	Get the full story.
0:44.2	It's more than news.
0:45.5	It's a trusted global perspective.
0:47.8	The Economist know which way is up.
0:51.4	This is Optimal Finance Daily.
0:54.1	Payday loans versus credit cards by Joney of Budgets or Sexy.com.
1:00.6	Payday loans versus credit cards, which are worse to take cash out from. They both have their
1:06.2	pros and cons, mainly cons. But if you were in a bind and had to pick one, which would it be?
1:13.1	This debate popped up during my coffee meetup with James from Dink's Finance last night.
1:18.3	I told you I'd be blogging about it. But the crazy thing here was that we found ourselves
1:23.1	defending opposite sides. He was slamming credit cards, and I was quick to diss those payday loans.
1:30.7	It was an epic battle of two finance bloggers going head to head, or perhaps a battle of nerds
1:36.6	sipping coffee, take your pick. The question we have to ask ourselves here, though, of course,
	...

Transcript will be available on the free plan in 14 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Optimal Living Daily LLC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Optimal Living Daily LLC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.