December 12, 2015

The Purpose of Payday Lenders

You've probably heard negative stories about those check cashing services. But one urban policy expert says they fill an important need for low income Americans. Then, rental housing costs have jumped in the last decade, putting the squeeze on millions of people. We look at the reasons for the rise.

Episode Segments:

InfoTrak: Payday Lenders Alternative financial providers such as check cashers and payday lenders are often accused of preying on the poor, with high fees and interest rates. Lisa J. Servon, PhD, Professor and former dean at the Milano School of International Affairs, Management, and Urban Policy at The New School in New York conducted a study that examined why many lower income residents make the conscious decision to use these services, rather than traditional banks. She was surprised to find that the choice actually makes sense for many people who live paycheck to paycheck.
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InfoTrak: Rent on the Rise The cost of renting an apartment or house has jumped in the past decade, according to a Harvard University study led by Dan McCue. A 6% rise in prices, combined with the drop in renter incomes, has made affordability a major concern. Much of the jump in prices is because of increased demand for rental homes as a result of the mortgage crisis. He said a quarter of all U.S. households are paying more than half of their income for housing, which is dangerously high.
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InfoTrak: Serial Dating Debbie Magids, PhD, psychologist, author of All the Good Ones Aren’t Taken discussed the trend of serial dating and why dating is so difficult for women in particular. She explained the most common dating errors and suggested ways that a person can analyze their own patterns of behavior, to clear the way for more fulfilling relationships.
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Guest(s) Appearing on this Episode

Debbie Magids Debbie Magids, Ph.D. is a counseling psychologist with a thriving private practice in New York City. Always client-focused, her groundbreaking methodology and results-oriented process consistently help her clients flourish so they can live their best life. Recently, Dr. Debbie launched TheTotalSelfPrescription.com, a comprehensive website that guides people towards getting the life they want. It encompasses a look into the areas of self-awareness on the subconscious level, the mind/body connection, positive psychology, and spirituality. Dr. Debbie is the author of All the Good Ones Aren’t Taken: Change the Way You Date and Find Lasting Love. In addition, she regularly contributes her advice to Cosmopolitan, and has been quoted in Glamour, Self, and Time Out New York magazines, as well as on MSN.com. A popular television guest, Dr. Debbie has appeared on Today, The Steve Harvey Show, Anderson Live, New York Live, Joy Behar: Say Anything! and The Joy Behar Show, Better, The Nate Berkus Show, The Morning Show with Mike and Juliet, CNN Headline News, The Jane Velez-Mitchell Show, Your World with Neil Cavuto, The Tyra Show, The Montel Williams Show, and on primetime’s Pregnant in Heels. Dr. Debbie’s commentary has also been featured on The Howard Stern Show, where she’s offered her expertise on the mental health of Howard and his team. Dr. Debbie holds a Master of Arts in organizational psychology and a Master of Education in psychological counseling from Columbia University’s Teachers College. She attained her Ph.D. in counseling psychology from Fordham University. Dr. Debbie has been a member of the American Psychological Association since 1989. Dr. Debbie's Website