Money Woes

FACED WITH TOUGH economic times, more Barbadians are turning to pawn shops, trading precious belongings for quick cash.

Two of the island’s leading pawn shops reported that business was booming because people who have fallen on hard times were prepared to give up their cellular phones, flat screen TVs, power tools, tablet computers and jewellery in order to get money for loan payments, rent and other commitments.

Nakita Coppin of Cash Wiz Barbados and Scott Goodman of iexchange Bim and Barbados Gold Buyers said their numbers for 2016 either increased or remained on a steady trajectory over 2015.

Goodman was convinced that the economy played a role in the increased activity of his line of business. He said people were definitely in need of more money, while in some cases people were upgrading devices or no longer used the items. (TSG)

Please read the full story in today’s Midweek Nation, or in the eNATION edition.