People Are Taking Out High-Interest Loans to Go to the County Fair
Across the country, county and state fairs are a big part of community life this time of year. We are certainly fans of whatever deep-fried-fill-in-the-blank-on-a-stick you can give us to eat. And who doesn't like overpriced beer, carnies and the never-ending variety of smells from farm animals in pens.
Is it possible to love the fair a little too much? The answer may be "yes" as some people are now taking out high-interest payday loans--with interest rates in excess of 200%--to pay for all the deep-fried goodness the Oklahoma State Fair has to offer. According to this Oklahoma City news report, business at a local payday lender is up 20% from people looking to take their family to the fair.
Admission is $9 for adults and $5 for kids. Throw in $35 per person for an unlimited ride wristband and you're looking at $168 for a family of four just to get through the gate and get on a few rides of questionable safety. That doesn't even include the cost of deep-fried dough, turkey legs, beer and rigged midway games.
Based on this menu of some of the foods available at the Fair this year, they might need another loan to pay cardiologist bills.