A Savings Projection

If you took out a $500 payday loan from a payday loan store who charges $15.00 per hundred for this short-term loan, you would pay service fees of

  • $75.00 ($15.00 X 5)

If you do this just once a year for 30 years, you pay non-refundable service fees of

  • $2,250.00 ($75.00 X 30)*

With an PayUback loan, you pay the same amount in, but we will pay you back;

  • $    309.37 ($37.50 1st year then $9.37 per year  in the contingency savings account)
  • $1,940.63 (deposited in your savings and loan account)
  • $2,250.00

Plus interest on the money.  Today’s interest rates are much lower than the long term average and we cannot guarantee what savings accounts will pay.  But if you could average just 1% earnings over 30 years, you could receive an extra $311.00 in interest.

Save a part of your income and begin now, for the man with a surplus controls circumstances and the man without a surplus is controlled by circumstances.
– Henry Buckley

* If you did this every biweekly payday this would be $58,500.00 ($75.00 X 26 X 30)

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