Payday Loans are a No-No - Part II

FMF of the FreeMoneyFinance blog made a very good comment regarding my last post on payday loans. I asked the question as to whether or not these companies should be made illegal. Of course I don't think they should be illegal. I think that people should be responsible enough to NOT use them, therefore driving them out of business.

It all boils down to education. People NEED to be educated about personal finance. That's all there is to it. The problem is, those people who need to be educated aren't hanging around the personal finance blogs. So, they must be reached some other way.

I would like to open this up to discussion. Please post your comments as to what you think should be done to better educate people about personal finance.

Tags: Personal Finance, Financial Education