In Jamaica news. So it is now summer and in Jamaica, summer equals parties/festivals; with the most popular parties and festivals taking place from late July to early August; namely Reggae Sumfest and the Independence weekend party series in Negril which has now extended to Kingston.
The Negril party series usually attracts young party goers from Kingston and St. Andrew. These are usually the people in the broke and unemployed demographic.
But of course Negril Weekend is a must for a lot of young people; an expensive venture but a must.
Therefore, when I heard about loans on offer for Negril Weekend I was not all that surprised; especially with all these loan agencies popping up all over the place. They have to get business from somewhere right?
So some brilliant person came up with the concept to offer loans to people who want to go to Negril for the Independence Weekend but cannot afford it at the given time. While some might think it dumb to borrow money to go to a party or even series of parties; others have gladly bought into the idea; so much so that this is now a booming business.
Photo courtesy rjrnewsonline.com
With party loans being a big thing, the debate is now on as to whether or not it is a smart move to take out a loan to go to a party. On one hand some persons are rubbishing the idea, saying that one should only borrow money if they plan on investing it.
Hence the loan should be easier to pay back if the investment reaps financial benefits. On the other hand, there are those who say equate party loans to vacation loans. And for those who are interested in the broader economic aspect of things, they will say that it keeps money flowing within the economy and so it is in the broader scheme of things good for the economy.
However, you spin it, you cannot argue that Jamaicans can get very creative and resourceful and they certainly know how to earn a dollar.
