Advertisements by finance companies to promote lending business

[Springtime]

Recently, I noticed that a lot of finance company are placing advertisements on TV and YouTube. Most advertisements encourage people to borrow money to travel, buy luxury items or have a lavish wedding. I think this is unethical. Borrowing money on non-essential things should not be encouraged. What do you think? Would you borrow money for such purposes?

 

[Bisolami]

Recently, I noticed that a lot of finance company are placing advertisements on TV and YouTube. Most advertisements encourage people to borrow money to travel, buy luxury items or have a lavish wedding. I think this is unethical. Borrowing money on non-essential things should not be encouraged. What do you think? Would you borrow money for such purposes?

I also noticed that if I am streaming a video on YouTube, I always get the advertisement of these loan applications

 

[eldavis]

Indeed i do not agree with this as well. I do not even approve borrowing money to start up a business, not to mention borrowing to spend on things that would not generate capital for you.

 

[Niyi Briggs]

Borrowing of money is not even something that should be advertised. But it seems this generation is encouraging everyone to live on credit.

 

[Bisolami]

Indeed i do not agree with this as well. I do not even approve borrowing money to start up a business, not to mention borrowing to spend on things that would not generate capital for you.

Borrowing money to start a business is a very bad thing and we need to stay away from it if we want our business to flourish

 

[nomad]

Encouraging people to burrow money for buying luxury items or even traveling is done frequently but it is the responsibility of the customer to take decisions wisely. people should not be easily tempted by ads.

 

[Niyi Briggs]

There is always a caveat to everything. Even cigarette companies advertise to encourage people to smoke. Those loan companies have to market their products so that even if you don't need, you might refer someone that might need.

 

[Stardom22]

For what I know is that these lending companies have really helped many people to bail out themselves especially on this trying times. The downside part of them is the higher interest charges.

 

[Niyi Briggs]

Even betting companies still advertise. Those ones are even socially worse than loan companies. The deal is that the customer should understand the limitations and act accordingly.

 

[flower]

The lending business is becoming very popular everyday and that is why so many people are getting engaged in this type of Enterprise.

 

[Niyi Briggs]

What people don't know is that the lending business is very profitable. If interest is of $5 is charged from 500 people, that's a huge profit.