Comments on: Payday Loan Marketing Tactics http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/ Sun, 14 Mar 2010 22:34:33 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Festival of Frugality #201 – Life Stages & Home Ownership Lesson Edition http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/comment-page-1/#comment-13159 Festival of Frugality #201 – Life Stages & Home Ownership Lesson Edition Tue, 27 Oct 2009 09:02:21 +0000 http://studenomics.com/?p=1524#comment-13159 [...] presents Payday Loan Marketing Tactics posted at [...] [...] presents Payday Loan Marketing Tactics posted at [...]

]]> By: Are PayDay Loans Cheaper Than Bouncing a Check? http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/comment-page-1/#comment-12886 Are PayDay Loans Cheaper Than Bouncing a Check? Fri, 23 Oct 2009 10:03:07 +0000 http://studenomics.com/?p=1524#comment-12886 [...] if you can help it. Despite their alleged convenience, payday loans are not a good solution. They’re best in situations where you’ve run into [...] [...] if you can help it. Despite their alleged convenience, payday loans are not a good solution. They’re best in situations where you’ve run into [...]

]]> By: Jeff @ Sustainablelife blog http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/comment-page-1/#comment-12698 Jeff @ Sustainablelife blog Tue, 20 Oct 2009 18:57:06 +0000 http://studenomics.com/?p=1524#comment-12698 Not only do they use creative marketing techniques, but they are very crafty about the location of the establishment. They have been found to typically exist in low income neighborhoods, marketing (if only though visuals) by being in the location where they are most needed. And to terry: Keep up the entrepreneurial sprit. You may need some start-up capital but it sounds like you've got a solid amount of things to sell. Definitely check out freecycle or craigslist (the free section) to find good free stuff... Good Luck. Not only do they use creative marketing techniques, but they are very crafty about the location of the establishment. They have been found to typically exist in low income neighborhoods, marketing (if only though visuals) by being in the location where they are most needed.

And to terry:
Keep up the entrepreneurial sprit. You may need some start-up capital but it sounds like you’ve got a solid amount of things to sell. Definitely check out freecycle or craigslist (the free section) to find good free stuff…
Good Luck.

]]> By: Stephanie PTY http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/comment-page-1/#comment-12695 Stephanie PTY Tue, 20 Oct 2009 17:53:11 +0000 http://studenomics.com/?p=1524#comment-12695 Terry: try your local Freecycle group - http://freecycle.org/ Things such as your #2 and #3 are given away for free regularly on Freecycle. And you might even find some more stuff that's eBay worthy, as well! Terry: try your local Freecycle group – http://freecycle.org/
Things such as your #2 and #3 are given away for free regularly on Freecycle. And you might even find some more stuff that’s eBay worthy, as well!

]]> By: Studenomist http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/comment-page-1/#comment-12694 Studenomist Tue, 20 Oct 2009 17:51:37 +0000 http://studenomics.com/?p=1524#comment-12694 Now that you have explained your situation Terry I have 3 words for you- GO FOR IT. We all know that you need to spend money to make money. If your calculations show that $200 will help you earn $500 then by all means pursue this venture. My post was aimed more at the people that are stuck in the viscous payday loan cycle. If you are confident you will pay the loan back when it is due then I see nothing wrong with your situation. I just hope that your calculations and predictions are correct. One favor to ask of you Terry- Please keep us updated at Studenomics with your progress. Now that you have explained your situation Terry I have 3 words for you- GO FOR IT.

We all know that you need to spend money to make money. If your calculations show that $200 will help you earn $500 then by all means pursue this venture.

My post was aimed more at the people that are stuck in the viscous payday loan cycle. If you are confident you will pay the loan back when it is due then I see nothing wrong with your situation. I just hope that your calculations and predictions are correct.

One favor to ask of you Terry- Please keep us updated at Studenomics with your progress.

]]> By: Terry http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/comment-page-1/#comment-12693 Terry Tue, 20 Oct 2009 17:45:16 +0000 http://studenomics.com/?p=1524#comment-12693 I'm thinking I'd need: (cost estimates high end to avoid overruns) 1) home internet service $40/mo + maybe one-time $50-$75 for modem/router 2) scanner $25 3) basic used windows computer (for compatibility with #1 and #2) $50 So I think a $200 30-day payday loan would be sufficient to get me started. I already have $500 of things to sell, which would repay the loan and provide cash for future purchases for resale. I can't think of a way to get started before I need to borrow money, since I'd need to take and post pictures and can't do that from a library computer. I’m thinking I’d need: (cost estimates high end to avoid overruns)

1) home internet service $40/mo + maybe one-time $50-$75 for modem/router

2) scanner $25

3) basic used windows computer (for compatibility with #1 and #2) $50

So I think a $200 30-day payday loan would be sufficient to get me started. I already have $500 of things to sell, which would repay the loan and provide cash for future purchases for resale.

I can’t think of a way to get started before I need to borrow money, since I’d need to take and post pictures and can’t do that from a library computer.

]]> By: Studenomist http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/comment-page-1/#comment-12692 Studenomist Tue, 20 Oct 2009 17:28:49 +0000 http://studenomics.com/?p=1524#comment-12692 Thanks for prompting a thought provoking response! My thoughts: 1. Startup capital greatly differs from a payday loan/cash advance. There is a massive difference between borrowing money for personal consumption and borrowing money to launch a potentially profitable business venture. 2. My question to you is: can you make some money first before you need to borrow money? Can you try to use computers in your public library (if allowed of course) or use a computer at a friends house until you have enough money to justify the upgrades? 3. If you absolutely need startup funding from a bank/loan company, how long do you estimate it will take you to pay it off? How long can you carry on the burden of having to pay back that debt? What interest rate will you be charged? I applaud your ambition and I encourage you to comment or email me whenever you have any questions. I have made money on eBay in the past and I think that it can be fairly lucrative if you are willing to put in the work. Thanks for prompting a thought provoking response! My thoughts:

1. Startup capital greatly differs from a payday loan/cash advance. There is a massive difference between borrowing money for personal consumption and borrowing money to launch a potentially profitable business venture.

2. My question to you is: can you make some money first before you need to borrow money? Can you try to use computers in your public library (if allowed of course) or use a computer at a friends house until you have enough money to justify the upgrades?

3. If you absolutely need startup funding from a bank/loan company, how long do you estimate it will take you to pay it off? How long can you carry on the burden of having to pay back that debt? What interest rate will you be charged?

I applaud your ambition and I encourage you to comment or email me whenever you have any questions. I have made money on eBay in the past and I think that it can be fairly lucrative if you are willing to put in the work.

]]> By: Terry http://studenomics.com/debt-reduction/payday-loan-marketing-tactics/comment-page-1/#comment-12691 Terry Tue, 20 Oct 2009 16:23:33 +0000 http://studenomics.com/?p=1524#comment-12691 Okay, I live on a poverty-level income, so I don't think I have a spending problem. Now I have two money-making issues: 1) I see some opportunities to buy some things at approx one-half their value and resell them on eBay for full value. (e.g. buy things for $10-$25 and sell for $20-$50) 2) In order to successfully execute #1 above, I need some computer upgrades (e.g. I'd have to post pictures of my items) So in order to take advantage of these money-making opportunities, I need a little startup capital, which I can't quite build on a poverty-level income. What would a friend say/suggest? Okay, I live on a poverty-level income, so I don’t think I have a spending problem.

Now I have two money-making issues:

1) I see some opportunities to buy some things at approx one-half their value and resell them on eBay for full value. (e.g. buy things for $10-$25 and sell for $20-$50)

2) In order to successfully execute #1 above, I need some computer upgrades (e.g. I’d have to post pictures of my items)

So in order to take advantage of these money-making opportunities, I need a little startup capital, which I can’t quite build on a poverty-level income.

What would a friend say/suggest?

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