According to statistics, every tenth person who takes an payday loan spends it on a music festival or self-education. For comparison, two years ago I took a microloan on the Internet every 20.
It is believed that the majority of borrowers using online services are people under 30 years of age. This age segment has long been accustomed to solving issues using the Internet and payday loans are no exception. Many of them will find it inconvenient and unprofitable to go somewhere office to get urgent money. It is much easier to do this without spending too much time on the road to the Payday Loan. It is noteworthy that young people prefer to spend money to gain experience or attend a cultural event. Moreover, this year there is a surge in proposals of this nature. Almost on every corner (and, again, on the Internet) there is an opportunity to attend a lecture, training or take a course with the subsequent obtaining a license or certificate. For example, some go to a driving school, others will go to attend a conference, which is often located in a different region, will go to public speaking, English, or other courses.
Pleasure or Experience. No Problem Payday Loan will provide
The concert is, first of all, a cultural event. But, for example, most festivals often include, in addition to the cultural program, an educational program in some sense. The organizers try to introduce into the process, in addition to the performances of artists on the stage, also master classes, informative reports, various classes and more.
Yes, people are increasingly taking payday loans for pleasure or experience. But the main reasons why Russians are turning to Payday Loans are still the same. First of all, those who had unforeseen expenses were in a hurry to sign the loan agreement. The reasons for the questionnaire are very different, from the purchase of products to the repair (or, again, the purchase, in case of impossibility of repair) household appliances. Of these people, almost half of those who use payday loans. The second place is for the questionnaires in which the repair of an apartment or other housing is indicated as the reason for the appeal. Such borrowers are about 15%. Less than 10% of people who applied for a loan online spent money on children’s expenses and paying a loan.
It should be noted that young people who choose payday loans, and even payday credits in general, are sufficiently knowledgeable in finance to be aware of what papers they sign. And also, among such borrowers are delayed more and more often. Many use the services of Payday Loans when their salary is delayed.