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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Replying to @sonyaellenmann @alicemazzy
...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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Replying to @sonyaellenmann
if you routinely need money before paycheck i to pay a recurring bill you have foreknowledge of, you need to spend less of check i-1
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Replying to @alicemazzy @sonyaellenmann
either this is possible (cashflow positive) or impossible (cashflow negative) but either way you're wasting money on nothing
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Replying to @alicemazzy @sonyaellenmann
like I said it does have valid uses (covering lack of savings/access to credit for unexpected expenses) but this isn't one
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Replying to @alicemazzy
I agree that it isn't one, but according to the company that's how people are using it =/
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Replying to @sonyaellenmann @alicemazzy
And I think that making people in aggregate better at managing their money is probably very hard, esp. with this demographic
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Replying to @sonyaellenmann
falls squarely under what conservatives call personal irresponsibility or progs describe with "being poor is expensive"
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Replying to @alicemazzy @sonyaellenmann
I don't think it's worth decrying really, things like this will always exist for the obvious reasons
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Replying to @alicemazzy @sonyaellenmann
it isn't uniquely exploitative and plenty of people will feel like they derive value from it
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but it is effectively just another low volume siphon
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