The Poverty Business

“I don’t know whether I was more bothered by the ignorance of the customers or by the company taking advantage of the ignorance of the customers.”

-Kehinde Powell

The issues between these companies and individuals are a joint problem and it takes a joint effort to eliminate the problem. None of these companies are making these customers sign any papers. Companies simply advertise the pros of the deal and make everything look sweet. How else would they lure people in? The customers call them specifically for their services not fully understanding what exactly they are asking for. We, as consumers, should be more knowledgeable in what we get ourselves into. If you don’t understand something it is your responsibility to figure it out, especially if you’re the one seeking for services. These companies wouldn’t bloom so well if everyone knew the pros and cons of the deal. This is why middle class citizens are being targeted because of the lack of knowledge. Plus how else would they make money off of interest? They are looking for people who are unable to pay their installments quickly. I believe if people were aware of and fully understand the fine print, then this business wouldn’t be so prosperous. They need our business to stay in business, so why do we keep supporting them while leaving ourselves in debt. These companies purposely include the cons in fine print. I believe the government should step in at this point because it is getting out of hand. Before establishing credit, companies should require a credit or money management class or at least offer it. Credit and money management should start being taught in high school. In high school people start to develop their own financial responsibilities. Once it is taught young, by the time we are older we should be more than familiar with it.