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He Took Out 500% APR Payday Loans. Dave Ramsey Says, 'Teach Your Children, Teach Your Grandchildren, Teach Everyone's Children To Stay Away' [Yahoo! Finance]

Lyft, Inc. - Class A (LYFT) 
Last lyft, inc. - class a earnings: 2/11 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
The result: a tough-love wake-up call from personal finance experts Dave Ramsey and Jade Warshaw The caller, Alex, explained he owed about $3,500 in payday loans, all carrying interest rates of around 500%. He said he took them out after getting laid off in August, since he didn't have good enough credit to get a traditional loan. “All of my money just goes to those payday loans and basic living expenses,” Alex said. He's been making about $800 a week driving for Lyft and doing side gigs , but it hasn't been enough to break the cycle. Don't Miss: Americans With a Financial Plan Can 4X Their Wealth — Get Your Personalized Plan from a CFP Pro Have $100k+ to invest? Charlie Munger says that's the toughest milestone — don't stall now. Get matched with a fiduciary advisor and keep building Ramsey responded with tough love: “Don't you ever walk in those places again and borrow money the rest of your freaking life.” Alex said he starts a new job in three weeks that will pay aro Show less Read more
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