Unnecessary Expenditures and Pay Day Loans
One of the things people who have great incomes, secure jobs, and a fat savings account tell other people who are struggling is that they just do not know how to budget. There are always a bunch of money rules touted as the best way to budget and stay safe financially, but it always presupposes that one is making more than enough to cover the essential expenses on a day-to-day basis. When someone decides to take out pay day loans because they have an emergency and no savings, then they are told that they should have budgeted and avoided unnecessary expenditures, rather than take out a pay day loan.Low-income people don't really take that advice warmly. Exactly what unnecessary expenditures do people think low-income people are making? Most are just trying to get by and survive, which in this day age means having some means to communicate via telephone and to get around by driving a car. These are additional expenses but are really quite necessary to maintain a job in our society. When a car breaks down, or the heat is turned off because of non-payment and a blizzard blows through, who's to say what should or should not have been done prior to that? Who's to say they even had that option to begin with?
The point is that once an emergency happens, no amount of advice resolves the situation. Cold hard cash is what is needed instead of moralizing about the situation. Many people are very grateful to have the ability to take out pay day loans when such emergencies happen even though some state governments are trying to shut-down the industry on the basis of the high interest rate charged. Instead of allowing people to make their own decisions, the state is deciding what is best for them from a perspective that doesn't seem to recognize the restrictions of living paycheck to paycheck. One can only hope that instead of moralizing, cash is made available whether through pay day loans or some other form of assistance.
Contributing National Payday Staff Writer
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