Residents turning to pawn shops due to inflation, gas prices

COLUMBIA, S.C. (WOLO) – Inflation has put a strain on some households. In Columbia, some people are seeking to pawn items as a way to make ends meet. 

“In this day and time its tough with food prices and gas prices especially. We’re getting a lot o people coming in with good items to pawn and we’re helping them as best we can but a lot of times its just not enough,” says Joshua Fins with People’s Pawn Shop.

Fins says they aim to live up to the store name by helping the community during hard times.

“Just last week I had a lady who said her light bill was like $450 over due. What else does she have to do? She came in and she had gold. She had plenty of gold, actually more than she needed for the loan so I only kept what we needed to get her the money she needed and after that she was supper appreciative. She was like ‘oh wow thank you I’m going to keep the lights on for my kids’,” says Fins. 

It is not only large amounts of money that is needed but for some people it is just enough to get by.

“You go to a bank and say ‘hey, I need 50 bucks’. They’re not going to help you with a $50 loan at a bank. We have many customers coming in who need a small help me out to fill their tank to get to work the next three days,” says Fins. 

People’s Pawn Shop says there is also an increase in customers coming in to purchase items to avoid having to pay the full retail prices at big box stores. 

Categories: Local News, News