Borrowing to eat
When you borrow small amounts to buy food before payday, the interest eats you alive. Here is what that looks like for a single mother in Europe.
There is a kind of loan that does not show up in the news. It is 200 kronor, borrowed on a Tuesday, to buy food for the last four days before payday.
The woman borrowing is not bad with money. She is a single mother with two jobs and two kids. She has done the math. The problem is that the numbers do not meet.
The cycle
Week one: Payday. Rent and electricity paid. Week two: Unexpected medicine or child necessity. Week three: Fridge is empty. She borrows. Week four: Next paycheck pays back debt. The cycle repeats.
�20 buys a week of food. It breaks the cycle for one week without interest. �50 breaks it for a month.
Close a gap this month
A gift of �20 or �50 delivers direct, dignified relief to a woman who needs it right now.
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