By: Zayre Gonzalez

I believe I, and I am sure many others, have received payday loans throughout their life. Not from a company but from family. We have grown up asking our siblings, “Hey, let me borrow some money, I’ll give it back to you when our parents give us our allowance,” or “Hey mom, can I have some money, I’ll do my chores for free for the next week!” And do we pay back? We do, at least most of the time. But is it because we want to or because we have to?

Payday loans aren’t much different than the situations I have just given. But the question for this essay is, do they work? I believe they do. We are asking for money we will have, just a bit sooner. Our family gave us the money, because they knew we were not offering money we didn’t really have, they knew we would have it later.  That money was a lifesaver when we were younger, we got to get that thing we so desperately wanted without having to wait.

Having my family trusts me with the promise of paying them back gave me the responsibility of keeping that trust for future reference. That situation would happen again. When we leave home we don’t only leave the comfort of having food and shelter but also the ease of having money when we needed it without the trouble of interest and late fees. These loans give us the some of the comfort of home back.

I believe that these loans work and are popular because it’s simple. It is our money, just sooner. We will have it and we have the responsibility of paying it back because we will need it sooner again in the future. Why would we want to lose that privilege? Payday loans are just that a privilege, just like it was at home.

Our mom’s taught us to not do things we would not want to be done to us. We wouldn’t want people to not pay us back, so why would we do it, especially when they lent it in a desperate time for us. These types of loans help us in a time of need and desperation.  They’re our mom when we needed her. They work because the give us the freedom of using our money without having to wait for it. We are not asking for amounts of money that we will never have, so we do not go out living the life we cannot afford. We do not go out there spending money that is not ours and cannot pay back and do not get used to a life that is not ours. Payday loans are OUR MONEY.

This is not something new. We have been in debt and in need our whole lives. And hopefully we have received and given help to those who needed it. We’ve had mommy and daddy to give us money when we needed it and eventually grown up enough to ask for it, earn it and not just expect it. If we have, we have had the privilege to have money when we needed it and the responsibility to pay it back. If you haven’t experience that kind of privilege or responsibility, in the real world it is not as easy as it was with your parents.

They can be risky, because it is hard to know who is mature enough to have a privilege like that.  However, there is no gain without risk. And taking that risk can lead to giving people the help they need when they need it. It can cause maturity in people. Pay day loans do work. It is peoples own money, they do not want anyone to play with their money, so they would certainly not play with their own.

Our family will not always be there to lend us money, we have left that comfort as we have grown up. But it is OUR money we are asking for, not anyone else. That is why i believe payday loans work.

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