I'm surprised how this subject just got very interesting here in Denmark. There is a new type of loan called SMS-loan. You can only load from around $180 to $550 for just one month, but the yearly interest is equivalent to 2229%. If you loan $180 it will cost you $54 in interest!! So if you are loaning the money because you did not have enough to buy that new iPhone or whatever, that you just have to have. You might get what you want, but you will be poorer than before. The SMS-loan is aimed at young people, who it seems don't know better.

So if you have not seen that short video on usury that I linked to in my last blog, you should see it now.