Re:Payday loans are coming for everyone
by kungtotte on Wednesday September 19, 2018 @01:46PM
(#18026099)
Have you considered that it's not about when they get paid but how much they get paid, and how much money they are spending each month?
If you get $300 on the 1st or you get $10 a day you'll have the same amount on the 30th. If that amount is less than your monthly expenses you're in trouble and payday loans start to look attractive.
A lot of people in the seedier parts of time are working jobs that don't pay a livable wage, and a lot of people are also spending more than what they should be. Sometimes irresponsibly, sometimes out of necessity (see: the boot theory of economics).
Paying irresponsible people more often will exacerbate their problems.
Paying poor people more often won't make them not poor any more.
If you get $300 on the 1st or you get $10 a day you'll have the same amount on the 30th. If that amount is less than your monthly expenses you're in trouble and payday loans start to look attractive.
A lot of people in the seedier parts of time are working jobs that don't pay a livable wage, and a lot of people are also spending more than what they should be. Sometimes irresponsibly, sometimes out of necessity (see: the boot theory of economics).
Paying irresponsible people more often will exacerbate their problems.
Paying poor people more often won't make them not poor any more.