As you close the books on 2018, it’s time to hit the restart button and look forward to the year ahead. Hopefully, part of that vision includes ways to more fully engage your account holders and help them embrace increased financial security.
After a holiday season of strong spending, many consumers are shifting their focus to paying off debt and getting their budgets back in line. For some, this can be tough. According to a recent Bankrate survey, nearly half of all Americans have felt pressured to spend more on holiday gifts than they can comfortably afford. As a result, at this time of year far too many families and individuals find themselves in a position to make another kind of transaction — with a payday lender or the local check-cashing store — to make ends meet.
Granted, this provides a quick, temporary solution when funds become short. But this type of transactional event — which is all a payday lender or check cashing business provides — can be an awkward, costly experience that does nothing to help consumers build long-term financial stability as they look to the new year.
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