There's a time and a place for payday loans in this busy society. I compare payday loans to today's fast food. It's not good for you, but it's fast and convenient.
I've spoken to people who have good stable jobs who make a good living who have used pay day loan services because they're convenient. Plain and simple.
Where as people need to be more educated on the foods they eat, they also need to take some time to figure out the real costs of the convenience of payday loans and instant cheque cashing.
After decades of people eating crappy fast foods there are more and more documentaries and movies coming out, such as "
Super Size Me which have scared people and have educated people on what the giant companies are feeding their customers.
I haven't yet found a documentary on payday loans and the costs of credit, but I will look into that in the following days.
I just caution people that yes, payday loans may have a small place in the world, and that if you're that busy that you you need that much convenience with your cash, you might just need to reprioritize a little.