We know how hard it can be to live paycheque to paycheque or not have money available when a bill payment is due. Fintech is also recognizing this issue and developers have now created what's called 'early wage access' or 'pay advance' apps. But are these apps really a good idea? Will getting paid sooner fix a cashflow problem or will it create more budgeting issues? How should you actually deal with a lack of income? Tune in to today's podcast as Doug Hoyes and Ted Michalos discuss these apps, their risks, and what to do instead to budget successfully.

Links:

Hoyes Michalos Joe Debtor Bankruptcy Study https://www.hoyes.com/press/joe-debtor/

Dayforce Wallet: https://www.dayforcewallet.com/ca/faq

Dayforce Prepaid Mastercard Fee Agreement https://www.dayforcewallet.com/dayforcewallet/media/wallet/documents/cha.pdf

Earnin App https://www.earnin.com/

Dave App https://dave.com/