“After seeing Nimble’s money loan ad, I know why I’m so bad with money.”

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Millennials get a bad rap for being a little obscure when it comes to finances, but recent awareness makes me think we’re not entirely to blame.

A few weeks ago I heard an advertisement on the radio for a short term lender called Nimble. They are known to give short term, high interest loans of $ 300 to $ 5,000, and judging by their marketing, they cater to a younger, millennial audience.

Chances are, if you’re 20 and trying to balance an entry-level income with growing living expenses, rent, and social life, you’ll need a healthy dose of mastery. self-confidence and financial know-how if you want to build that savings account.

But Nimble, like other short-term payday loan companies, has capitalized on our generation’s obsession with instant gratification and positioned itself as the “inconsequential” money lenders who will give you a small injection. money to cover those spontaneous moments.

For example, times like …

When you forget to furnish your new home but still wait for payday.

When you want to go on a road trip but also need to have your car serviced, or just, you know, feel the need to rent a convertible for the weekend (?).

When really, really want to go on vacation, but your bank account is not that empty.

In the Nimble commercial, these scenarios are associated with their whimsical, hipster, bunny mascot, and followed by the slogan “If you need the cash quick, #justNimbleit and move on”.

Although I am not a financial expert, I know it is terrible advice. Don’t do that.

By now, the damaging rhetoric of “buy yourself some happiness” has made its way into the millennial mindset. Stores use this mantra to make us spend more, and targeting our FOMO (fear of running out) is another popular tactic, with loan and rest services targeting our instant gratification mindset to make us buy more.

But the publicity around these concepts is misleading.

In 2015, one of Nimble’s ads came under fire from the consumer and social service industry for exploiting people in financial difficulty. In the advertisement, a young man is shown taking a shower when he realizes that he forgot to pay the gas bill and as a result his hot water is cut off. Nimble’s bunny mascot immediately advocates for him to “Nimble it and move on”.

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