Lived Experiences with Payday Loans

African American Single Mothers and Employees

Bibliographic Data

ID6061970
AuthorsLane Riley (Cooperative Baptist Fellowship of South Carolina), Leslie E Green (0000-0002-6105-3128, Texas State University, corresponding author), Virginia Solis Zuiker (University of Minnesota System)
Year2022
Volume50
Issue4
Pages301-316
Publication date2022-06-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueFamily and Consumer Sciences Research Journal (JOURNAL)
Journal identifiersISSN: 1077-727X • E-ISSN: 1552-3934
PublisherWiley (PUBLISHER • GB)
DOI10.1111/fcsr.12441
OpenAlexW4281759349
LanguageEN
Citations received2
References cited20

Payday loans are disproportionately used by African Americans and women including single mothers. Little empirical research exists incorporating data from payday loan employees. This exploratory study used a phenomenological approach and in‐depth interviews to examine the lived experiences of two groups: African American single mothers who used payday loans and former payday loan employees who extended and collected on payday loans. The interviews resulted in four themes from the single mothers' experiences including “right decision at the time” and “it's addictive” and five themes from the former employees including “help the customer come back” and “relating to the customers

Business · Demographic economics · Economics · Exploratory research · Lived experience · Loan · Psychotherapist · Social science · Sociology · Financial Literacy, Pension, Retirement Analysis · Gender, Labor, and Family Dynamics · Psychology · Work-Family Balance Challenges · Finance

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