Do your kids nag you to get a payday loan?

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Former_MSE_Debs
Former_MSE_Debs Posts: 890 Forumite
in MoneySaving polls
Poll started 21 Oct 2013

Payday loan adverts are, sadly, now even shown on children’s TV as well as other channels. Have they filtered into your child’s awareness?

Please tick as many of the following in this week's poll that apply to your child(ren), as a result of TV payday loan adverts ONLY.


Vote in this week's poll

Did you vote? Why did you pick that option? Are you surprised at the results so far? Have your say below clicking reply to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide .

To see the results from last time, click this.
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Comments

  • wurley
    wurley Posts: 95 Forumite
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    I'v discussed these adverts with my boys 7,9,13 and we run through the whole process of costs etc.... We talk alot about how advertising works and the tricks they use to make people want their stuff - My middle son is getting quite adept unpicking the hype from the product.:T My eldest looks for the small print... :D
  • skylight
    skylight Posts: 10,716 Forumite
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    wurley wrote: »
    I'v discussed these adverts with my boys 7,9,13 and we run through the whole process of costs etc.... We talk alot about how advertising works and the tricks they use to make people want their stuff - My middle son is getting quite adept unpicking the hype from the product.:T My eldest looks for the small print... :D


    I do the same! Using Mr MSE's mantra about "Their job is to get your money, your job is to keep it".

    It does anger me though that these ads are on kids TV, I do not want them growing up thinking that getting a loan fast is normal. Mine have asked me to get a loan when I have said no to something (and no, I have never and will never take out one of these!), so I record their programs instead now so we can fast forward over the ads.
  • building_with_lego
    building_with_lego Posts: 2,606 Forumite
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    I have to agree that it's outrageous that financial products of this type are advertising on children's television. Children can't get the product so it is surely just a cynical attempt to make this type of credit appear to be a 'normal' way of borrowing.

    Skylight, I'm nicking the mantra. Wurley, I'm nicking your teaching methods! My children are still youngish but it won't be long before I need to educate them about this insidious breed of company.
    They call me Dr Worm... I'm interested in things; I'm not a real doctor but I am a real worm. :grin:
  • XRAT
    XRAT Posts: 239 Forumite
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    We have discussed these ads, and as a result I have a feeling that my kids would sell their organs before Taking one!
    They have been advised that the first port of call should always be the bank of Mum and Dad..., and they already know how difficult it is to get anything out of them!!!
    (The kids have always saved for the things they want.., and discovered that by the time they've saved enough, they maybe don't want it so much. There is always something so much better just out of reach to save for, and that is how you get the better things in life!)
  • Coveredinbees!!!!
    Coveredinbees!!!! Posts: 3,927 Forumite
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    It worries me that they use fun little puppets to sell these things it shouldn't be allowed.
    Nothing to see here, move along.
  • happyinflorida
    happyinflorida Posts: 807 Forumite
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    MSE there are not enough options on this one - there should definitely be the option of -
    "I've discussed these type of loans with my children and they know that they should never, ever take out one of these loans as they are the biggest rip off ever" - so why isn't there an option like this?
  • Moomum
    Moomum Posts: 958 Forumite
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    Nope but I have been told by my 9 year old to get cash for gold! Ridiculous on childrens tv.
  • pogofish
    pogofish Posts: 10,852 Forumite
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    If they did, it would be the one and only time! :mad:
  • aardvaak
    aardvaak Posts: 5,833 Forumite
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    If I had any suggestion from kids to take out a pay day loan they would be down the nearest orphanage as quickly as that.
  • SpottyKnickers
    SpottyKnickers Posts: 71 Forumite
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    I have discussed them with my 12 year old, telling him that they are an expensive nightmare that can cause real trouble. I think seeing them has helped to open up dialogue about the negative aspects of things.

    He has never suggested taking out a payday loan. I just cant imagine what child would, unless they were spoilt or their parents did it often anyway. When we were growing up my mum used Greenwoods (which I think is Provident now) so because we were exposed to it it didn't seem odd. Now I am older and I realise how much money she has paid back in interest over the years it makes me feel quite sad.
    November Make £5 a day~£17.78/£150
    My Goal - to be mortgage free by August 2023.
    2013 MFW No. 145 £226.92/£1000
    Mortgage Bricks paid for ~ 2/1000 _pale_
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