Mobile Loans changing the way we live

Not so long-ago banks were buildings with safes that got robbed. Today there are still many bricks and mortar banks with their safes full of cash and valuables. However, things are changing, and they are changing fast. Banks still operate in the same way, they keep your money and they can lend you money but on the lending side, especially your mobile phone is changing the banking landscape.

Photo/NikolayF.com

Mobile, Text or SMS Loans

We live in a world of instant gratification. We want stuff now; we want it sooner than now and many of us don’t really want to save and wait. There are of course those times where we don’t so much want something but need it and don’t have the ready cash to just buy it.  In the past, we would go to our old bricks and mortar bank, take a pile of documents with us, sit down and wait and then spend half an hour explaining why we needed the loan and praying we got it. Modern instant gratification has changed the way we now bank and borrow growing numbers of lesser-known banks such as HittaSMSLan are making borrowing short term easier.  Welcome to Mobile, Text or SMS Loans.

Why Borrow?

Back in the old days getting a loan required capital and security. Yes, you had to have money or something of value to borrow more money. Today that has changed. Unsecured short term, micro or payday loans are the way forward. But why do people take out these loans?

It has a lot to do with what things cost, what life costs and how the world is changing. SMS or Mobile loans are not loans used for large purchases such as a house or even a can. The loans are used for more everyday things, smaller items such as electronic equipment or car repairs. These small loans are used to make cash flow happen and keep life ticking.  However, these small loans over short periods with relatively high-interest rates are finding another use.

Borrow or die

The advent of Paydays loans has changed the way many people live all over the world. Life has become costly in recent years not that many of our grandparents or great grandparents would necessarily say is true. Sure, there is plenty to can do for a free but modern living does require spending and SMS and Payday loans have become the facilitator of living. As costs have risen earnings have not increased at the same level and for this reason, more people are left with a lot of months left at the end of their money. This is the gap that payday loans fill and albeit at a cost they are nonetheless proving to be the lifeline many people need to simply survive financially each month. In this sense, mobile, SMS and Payday loans have very much changed the way we live in the 21st century. Like it or not, things are not about to change in a hurry.

Author: Matthew Perry