There is a growing trend that is troubling to millennial as well as their parents. Years ago when young adults were just starting out in life they faced minimal challenges in reference to obtaining credit. Most were able to build it up by applying for a credit card, and managing it properly. Fast forward to today our children are finding it extremely difficult to build credit because they have not had the opportunity to establish it. So what do they do?
The answer is simple, they think “how can I get the money I need now, as fast as possible” the reality is that young adults today are generally not very patient, and have grown up with the “I want it now” mentality. With this being said it should make perfect sense to us that they will inevitably turn to companies such as loan 2 payday to help them.
Let’s Be Fair
Although the millennial does have an “I want it now” mentality, we must be fair and point out that if they were being included in the availability of cheap credit some would most likely not be bothering with payday loans. Since they are not permitted to enjoy these lower credit rates where else do we think they are going to get money?
Well, the next logical answer would of course be their parent(s), but what if they do not any extra to give, or just are plain tired of the financial mistakes their young ones are making and have decided to take a stand (Good for your parents!) and will not supply the cash?
Well, then they may have some others on their list to ask, but let’s say that they can’t get it. As someone who has grown into adulthood in the age of technology that has opened wonderful opportunities for them no doubt, but at the same time has also taught them that everything is at their fingertips and has not taught them much at all about the benefits of waiting, thinking, and yes making intelligent decisions. So, therefore it makes sense that a quick loan would be their solution.
Still Being Fair
It can be very easy for parents and young adults to view quick loan companies the enemy, however, we must keep in mind that although some of them have not operated above board, there has been repercussions for them and they are now under constant watch with regard to their business practices. With that being said, loan 2 payday would like to warn young adults about this unfortunate situation.
You are struggling with that cycle of needing money, borrowing money, and then not being able to pay back the money. This will definitely land you further in debt and will negatively affect your credit rating. Taking out a quick loan knowing that you won’t be able to pay it back will only serve to cause more financial problems in the future and slow down your success.