Here's evidence that I have no artisitic skill.

In a recent post about payday loans , reader Paul had the following (lightly edited) comment: “You know I used to feel sorry for people who get caught up in this money cycle. But when most people would rather just watch Dancing with the Stars or an insane reality program and not spend 30 seconds on improving any aspect of their financial lives, I just can’t. “One’s financial problems seem to always be ‘someone else’s or some fat cat banker’s fault.’ No one is responsible for themselves anymore. For the poor who struggle to make ends meet and this is the only option, yes I agree that is bad; for the rest, you get what you deserve if you can't pay for that non-essential ‘toy’ or latest iPhone you purchased you just had to have.” There definitely are many people who deserve Paul’s criticism. But many who get caught up in a vicious payday loan cycle had plenty of help getting there. When I’m asked to referee a dispute, I like to say that we shouldn’t overlook the possibility t...

The Financial Consumer Agency of Canada (FCAC) has a page providing information about payday loans that has drawn criticism from some personal finance experts. The main problem I see is that FCAC didn’t include enough summary of the dangers of payday loans in the first few sentences. Lower down on the page, there is solid information about dangers. When you’re trying to help people, it’s vitally important to set the tone for your message very early. Many people won’t read past the title of an article. Others will read only the first couple of sentences. In most cases, only a small fraction of readers will make it to the end. The failing of FCAC’s payday loan page is the tone it sets in its short introductory section. Some would want FCAC to use strong language to warn Canadians away from payday loans. However, the Government of Canada has to be careful about sticking to facts. They can’t publish a diatribe against a legal industry. Below is my suggestion for a few small ...

I was out for a walk at lunchtime one day and saw a huge billboard for a payday loan company. The huge font read $100 LOAN FOR $1 Presumably this means that you’d pay only $1 in interest on a loan of $100. This is cheaper than the usual rates for payday loans, so I suspected a catch. Then I noticed a smudge to the right of the large font. I had to cross the street to read the fine print written sideways: ON FIRST LOAN The font for the fine print was so much smaller that all three words together sideways were the same height as each large character in the main message. So, the offer is a lower cost entry to a cycle of debt and despair. It all reminds me of the techniques used by drug pushers when I was young. The first joint or little baggy is free, but you’ll have to pay when you come back for more.