Why are millennials switching to payday advances and pawn stores?
More millennials are switching to payday advances and pawn shops for essential money — techniques that may offer relief that is immediate but usually end in deeper financial obligation.
That’s based on a study that is new millennials and monetary literacy because of the worldwide Financial Literacy Excellence Center at George Washington University. The research shows simply how much millennials struggle with individual finance: of the surveyed, 42 per cent had utilized an alternative solution service that is financial a broad term which includes automobile name loans, income tax reimbursement advances and rent-to-own items, into the 5 years before the research. Read more
