The Paycheck Loan Wheel Continues.

This is the paycheck wheel continuing story. Now that the student has the hundred dollars from the pay day enterprise they may freely and happily spend it on anything they want. Often though this money is for and emergency like a car payment, cell phone bill or credit card payment. Whatever. It is promptly spent. Gone.
Now time goes by. Usually until the student's next payday. ( This is usually when such payday advances are due.) The student is paid, the business deposits the post-dated check and zoom that money is gone from that student's account. The student's account is now minus one hundred and sixteen dollars.
This might be a simple and even helpful, albeit expensive, transaction if it weren't for a few Planet College Basics. First new costs for students are constantly ocurring. Second most student workers think in terms of their entire pay being available. Thirdly, a significant amount of money disappearing from your checking account is really discouraging.
These effects from this seemingly simple and convenient transaction sometime lead a student to repeat the transaction in order to make up for the shortfall from their current earnings. This is part two of The Paycheck Wheel.