James DiLellio Featured in WalletHub on Same-Day Loans

Same-day personal loans can look appealing with instant cash offers and low APRs and fees, however, some experts advise against them. Pepperdine Graziadio faculty member James DiLellio shared his advice for people looking for same-day loans with WalletHub.

“I would generally advise against same-day loans. Fees and very high-interest rates reduce buying power significantly” said DiLellio. 

When asked what the biggest mistakes people make when looking for an instant loan are, DiLelio said “I suspect individuals do not reflect on why they need to borrow quickly, likely due to poor planning. An emergency fund of 3-6 months of living expenses, kept in an FDIC-insured bank checking or savings account, can help avoid the need to borrow quickly.”

Read the full article at WalletHub.