Cash for Groceries, Gas, and More
Fuel tank a little low?
Maybe you want something flavored with pumpkin spice?
The friendly cartoon bear over at the Dave App has you covered.
Just take an “easy” cash advance from their lending club and you’re on you way.
Full of coffee, gas, and groceries.
And now with added debt.
Sure, pumpkin spice flavoring makes most things better — but the debt you owe to a cartoon bear isn’t one of them.
A Broken Economy
If borrowing from a cartoon bear isn’t a sign that we’ve got some serious economic problems, I’m not sure what is.
Actually, using buy now, pay later loans to buy groceries is pretty alarming.
One survey indicated:
32% of Buy Now Pay Later plan users have had to skip paying an essential bill such as rent, utilities or child support in order to make their payments. Even after that, 30% report that they’ve struggled to make their payments.
Maybe instead of skipping those essential bills, BNPL users can just make a deal with a debt-bearing cartoon bear.
Oh, and if bears aren’t your thing, you can also go to the lending lion to finance your next latte.
Yes, that’s right. That same lion that offered this gem as the #1 back-to-school tip:
Students, parents, and teachers all can’t wait to find out what a lending lion has to say about going back to school.
Turns out, the #1 back-to-school tip from MoneyLion is to get a $500 loan from MoneyLion.
It’s a pretty crazy world out there.
Lions lending for lattes.
Bears covering your bills.
Installment payments for instant noodles.
My advice: Be aware and proceed with caution.
MORE CONSUMER NEWS
Safeguarding Consumers with Payment Apps | Advocate Andy | NewsBreak Original
Public Citizen calls on federal regulator to install safeguards for consumers. A consumer advocacy group is applauding…