3 ms·

Pretty much. But that's a hell of a lot better than those people using payday loans.

• dragonwriter 11y ago
  Payday loans might be used for leveling variable pay, but the impression I've always gotten is that they are used more for addressing inconvenient expense timing for people that have neither reserves nor more conventional credit available; Even doesn't really help with that.
  • jschlossberg 11y ago
    70% of payday loans are used for predictable, recurring expenses.
    • jaskerr 11y ago
      Citation, please.
    • jschlossberg 11y ago
      http://www.pewtrusts.org/en/multimedia/data-visualizations/2012/payday-lending-in-america http://www.pewtrusts.org/en/multimedia/data-visualizations/2...
    • dragonwriter 11y ago
      > 70% of payday loans are used for predictable, recurring expenses. Even if that unsourced figure is correct, it doesn't really address the issue: if they aren't used to deal with "I was short because my pay was lower than normal this week", Even wouldn't help. That's its a predictable, recurring expense doesn't mean that its not a recurring pattern of timeshifting a mismatch between income and expense, rather than dealing with irregular income patterns. Even (at best) deals with irregular income patterns, but nothing else.
      • jschlossberg 11y ago
        You are correct, we solve irregular income patterns and nothing else. Still workin on dat perpetual motion machine.
• deleted 11y ago
  [deleted]