I wrote about @trydailypay — next-gen ATM, budgeting tool, or stop-gap for unsustainably low wages? https://www.inc.com/sonya-mann/dailypay-financial-insecurity.html … cc @RickPaulas
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Yeah, consumption smoothing similar to a credit card (and does have less potential for misuse than CC). My position is that if someone...
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...is living close enough to the edge that they need $70 stat to pay their bills, on a regular basis, that means they are not earning enough
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and if enough people are in that position to sustain DailyPay as a business, it's a systemic issue that will affect society at large
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worth noting middle class covers these same functions with consumer credit and savings
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but this is purely focusing on actual value, we all know much if not most of the use would amount to yet another tax on high time preference
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Oh definitely. Time preference is even explicitly built into their fee structure
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