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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.