CreativeMessEarnin A review
What is Earnin?
Earnin is an app that gives you a small loan to hold you over until payday. It’s not like a traditional “sign your life and first born away” kind of payday loan. It is based on when you go to work and what your bank account has historically had deposited into your account.
How it works.
After you download Earnin it asks you about where you work and has you connect your bank account. Once you’ve done that you can either wait a short amount of time so they can confirm your employment or you can take a photo of your pay stub. That’s it.
Paying it back
Earnin is unique in their business model in my opinion. You agree on a tip amount and that is what replaces the interest. Let’s say you borrow 100$, depending on how badly you need that money you could agree to a 10$ tip. So then when you get paid they would take 110$ out of your account.
One of the things that I newly discovered was that earnin also has a pay it forward system. If you tip over a certain amount that money goes into a loan for someone else. So in a small way you have the ability to lend a hand to someone you don’t know and in turn stand a decent chance of having that come back around to you.