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The reality of loan sharks...a cultural perspective

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Started by Janine Mackay 19 Sep 2014 4:34pm () Replies (1)

I write this poem because of my background (I am Tongan and I lived in South Auckland) and my culture. I am employed as a maths specialist by Fairburn School in Otahuhu, and 27% of this school’s population are Tonga students. There are Loan Sharks everywhere in Otahuhu and they are targeting my people, and of course my people do find going and loaning money from Loan Sharks easier than the bank, because they are approved instantly. My people need money for funeral, wedding, new transports and birthday (money that they do not have, so they go to the Loan Sharks). Some said to me, “I bought a new car for 30, 000 and only 25% per annum for the interest and they thought it was a good deal”. Tongan people do not understand the formulae and interests that Loan Sharks are using. It frustrates me to see my brown people getting poorer and poorer due to not understanding ‘financial literacy’ and ‘financial capability’ …

Mepa

Mepa's words on cultural Financial Capability.docx

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