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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 28th May 14, 8:36 AM
    • 2,324Posts
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    Former MSE Helen
    MSE News: Speedy Cash 'photos with Santa' flyer branded 'irresponsible' by watchdog
    • #1
    • 28th May 14, 8:36 AM
    MSE News: Speedy Cash 'photos with Santa' flyer branded 'irresponsible' by watchdog 28th May 14 at 8:36 AM
    The ASA has told payday lender Speedy Cash not to target ads for its in-store events at families with children...

    Read the full story:

    Speedy Cash 'photos with Santa' flyer branded 'irresponsible' by watchdog



    Click reply below 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.

Page 1
  • JustMoney
    • #2
    • 28th May 14, 9:18 AM
    What's next?!
    • #2
    • 28th May 14, 9:18 AM
    Many congratulations MSE on this great achievement. Do you have any wider goals on this topic beyond stopping ads during children's TV? It strikes me that there are several other techniques that payday lenders use which target children - Speedy Cash have people in Kangaroo costumes outside their shops, they hand out balloons etc etc. Are there any written guidelines out there about what constitutes advertising that is targeted at children?
    • Clive Woody
    • By Clive Woody 28th May 14, 10:09 AM
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    Clive Woody
    • #3
    • 28th May 14, 10:09 AM
    • #3
    • 28th May 14, 10:09 AM
    Personally I would like to see similar restrictions to tobacco advertising imposed on this and similar lenders.

    Hearing my children sing along to a Wonga advert because it has funny cartoon characters tells me exactly who this is targeted at. Conditioning the next generation that pay day loans and the like are a good idea is completely wrong and has no place on children's TV channels.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
  • BillJones
    • #4
    • 28th May 14, 10:41 AM
    • #4
    • 28th May 14, 10:41 AM
    Conditioning the next generation that pay day loans and the like are a good idea is completely wrong and has no place on children's TV channels.
    Originally posted by Clive Woody
    And yet our currrent generaion of young adults, none of whom were exposed to these adverts, still have many among their ranks who will still rush out and sign up to these companies' deals quicker than you can say "What, Christmas is happening again this year?!"

    Might I suggest turning off the television, and educating your children a little about finance?
    • Gaz83
    • By Gaz83 28th May 14, 1:21 PM
    • 3,761 Posts
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    Gaz83
    • #5
    • 28th May 14, 1:21 PM
    • #5
    • 28th May 14, 1:21 PM
    Might I suggest turning off the television, and educating your children a little about finance?
    Originally posted by BillJones
    Won't happen. Not when older generations still have a bizarre hang-up about sharing financial information with their children. We see it all the time in schools. Pupils have no idea what the real world is like.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
    • Clive Woody
    • By Clive Woody 28th May 14, 1:34 PM
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    Clive Woody
    • #6
    • 28th May 14, 1:34 PM
    • #6
    • 28th May 14, 1:34 PM
    And yet our currrent generaion of young adults, none of whom were exposed to these adverts, still have many among their ranks who will still rush out and sign up to these companies' deals quicker than you can say "What, Christmas is happening again this year?!"

    Might I suggest turning off the television, and educating your children a little about finance?
    Originally posted by BillJones
    You may suggest whatever you like Bill, freedom of speech is wonderful thing.

    If you think it is reasonable to show these adverts on children's television then I suggest you reconsider as it is very naive to think that these adverts will not have an affect. Parents should not need to censor their child's viewing while watching channels targeted for children. If they were advertising alcopops, cigarettes or Club 18-30 holidays on Tiny Pop TV then I would be equally unhappy.

    I am fully aware that there are many adults who naively sign up to these ridiculous loans who never saw adverts such as these when they were young, does that make it okay?
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
    • Clive Woody
    • By Clive Woody 28th May 14, 1:45 PM
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    Clive Woody
    • #7
    • 28th May 14, 1:45 PM
    • #7
    • 28th May 14, 1:45 PM
    Won't happen. Not when older generations still have a bizarre hang-up about sharing financial information with their children. We see it all the time in schools. Pupils have no idea what the real world is like.
    Originally posted by Gaz83
    We are very open with our kids about finances, although they are only 5 and 7 we talk to them about finances in language they understand. I am not just relying on schools to educate them and will continue with this education as they grow up.

    I fully support Martin's campaign for better education of kids when it comes to finances and financial products. I think parents play a key part in this but unfortunately there are many parent's who simply do not have a clue so there needs to be a Plan B.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
    • dealer wins
    • By dealer wins 28th May 14, 1:54 PM
    • 6,392 Posts
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    dealer wins
    • #8
    • 28th May 14, 1:54 PM
    • #8
    • 28th May 14, 1:54 PM
    Yes we need to stop these 5 year olds rushing down to Speedy Cash and taking out loans!!
    Choose life
    • Clive Woody
    • By Clive Woody 28th May 14, 2:00 PM
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    Clive Woody
    • #9
    • 28th May 14, 2:00 PM
    • #9
    • 28th May 14, 2:00 PM
    Yes we need to stop these 5 year olds rushing down to Speedy Cash and taking out loans!!
    Originally posted by dealer wins
    We now keep them in cages which seems to have resolved the problem entirely.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
    • Monkeyballs
    • By Monkeyballs 28th May 14, 2:19 PM
    • 1,849 Posts
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    Monkeyballs
    So...

    A Payday lender would be able to use this sort of advertising if they rented a room in their local church, community hall or working mans club in which they would have a lot more space to place their paraphernalia offering loans from their nearest branch and maybe even have a team of "advisors" on-site to discuss options?

    The problem with PDL's is that it's easier for them to make adverts which illustrate an immediate benefit from their loan because the loan is small(er) and is intended to be for a short period only.

    Someone taking a PDL is more likely to use it to have a night out (as much as they are to pay for an emergency or get them through the last week in the month) whereas you go to a bank and you borrow a larger amount for a car, or home improvement, etc - which of these scenarios would benefit from a jokey humorous advert?

    Maybe by making PDL's limited to none moving images or just text based advertising with a voice over would remove the "child appeal"?

    MB
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  • BillJones
    You may suggest whatever you like Bill, freedom of speech is wonderful thing.

    If you think it is reasonable to show these adverts on children's television then I suggest you reconsider as it is very naive to think that these adverts will not have an affect.
    Originally posted by Clive Woody
    I don't have an issue with the ASA asking them to stop, but I'd hope that the effect would be a very minor one. I don't generally favour the ide of plonking children in front of the television unsupervised, though, and so would hope that parents could use one of these being shown as a jumping off point to explain prudence.
    • Clive Woody
    • By Clive Woody 28th May 14, 3:52 PM
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    Clive Woody
    I don't have an issue with the ASA asking them to stop, but I'd hope that the effect would be a very minor one. I don't generally favour the ide of plonking children in front of the television unsupervised, though, and so would hope that parents could use one of these being shown as a jumping off point to explain prudence.
    Originally posted by BillJones
    Fair enough if you feel the need to supervise your children for the whole time that they are watching television that's obviously your choice. Did you have an upper limit for this supervision or did you plan on watching television alongside them right through their teens to ensure that inappropriate adverts were explained to them?

    Personally I would rather adverts were shown on appropriate channels at appropriate times without the need for constant vigilance of the parents.
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
    • JuicyJesus
    • By JuicyJesus 28th May 14, 8:31 PM
    • 3,481 Posts
    • 3,944 Thanks
    JuicyJesus
    Fair enough if you feel the need to supervise your children for the whole time that they are watching television that's obviously your choice. Did you have an upper limit for this supervision or did you plan on watching television alongside them right through their teens to ensure that inappropriate adverts were explained to them?

    Personally I would rather adverts were shown on appropriate channels at appropriate times without the need for constant vigilance of the parents.
    Originally posted by Clive Woody
    If only there were some kind of Authority that set Standards in Advertising.
    urs sinserly,
    ~~joosy jeezus~~
    • jaydeeuk1
    • By jaydeeuk1 28th May 14, 8:51 PM
    • 7,454 Posts
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    jaydeeuk1
    How are these 6 year olds going to afford Grand Theft Auto VI now?
    • Clive Woody
    • By Clive Woody 28th May 14, 9:39 PM
    • 4,683 Posts
    • 5,275 Thanks
    Clive Woody
    If only there were some kind of Authority that set Standards in Advertising.
    Originally posted by JuicyJesus
    It'll never catch on....
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
    • Nicklt
    • By Nicklt 29th May 14, 12:06 PM
    • 312 Posts
    • 243 Thanks
    Nicklt
    It's not difficult to start educating children about finance at a young age.

    My 6 year old already has a good idea, this is through telling her how me and her mum get money, telling her when things are espensive, getting her to save for things she wants etc.

    Sometimes she will ask for little things like sweets for £1.50 and she'll say that if it's too much she will save. We use things like roosterbank where she can save her pocket money.

    I think this is more to do with the WANT culture, people are unwilling to wait for things nowadays and want them now so will get silly loans just to get it (of course if you are struggling to afford for or the washing machine packs up that's a different matter).

    Spoiling children at a young age and giving them everything they ask for is more damaging that not teaching them finance.
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    • keepcalmandstayoutofdebt
    • By keepcalmandstayoutofdebt 29th May 14, 8:28 PM
    • 3,565 Posts
    • 1,889 Thanks
    keepcalmandstayoutofdebt
    And I bet nobody thinks 'oh there could be a motive' when their child is handed a balloon or goody pack at say a travel agents...

    Still a way to go it would be petty good I guess to see the more misleading loan ad's clamped for instance there is an ad for a peach of a loan company who claim they loan from £50 but actually going by their site they don't really want to lend that amount, funny that, well not for same period as higher amount as their website would indicate...because not everyone wants big figures that they can't afford to manage just a thought that's from this big kid!
    "If you are caught in a rainstorm, once you accept that you'll receive a soaking, the only thing left to do is enjoy the walk"
  • BillJones
    Did you have an upper limit for this supervision or did you plan on watching television alongside them right through their teens to ensure that inappropriate adverts were explained to them?
    Originally posted by Clive Woody
    I don't intend on exposing them to much television at all, really, and would hope that by the time they are teenagers they'll be educated enough to not be seduced by that sort of thing.

    Who knows how that'll work out, though.
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