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Direct Payday Loans Support Small Short-term Emergency Costs

Direct payday loans offer financial assistance when households are without their own emergency fund. There are some financiers who argue that most households do not need an emergency fund but should invest instead. A PEW study (2007) showed that only 34% of households experienced unexpected costs in the prior year. As much as I admire the research PEW studies do and the finding’s they report, I wonder what they consider an emergency to be. For those people who live paycheck-to-paycheck and struggle to keep up with the rise in living costs, what … Continue reading

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