I am no fan of Buy Now, Pay Later 🎁

As they say, we already know what the next recession will look like. Flooding the market with crappy junk people don’t need and can’t afford but are deceived by the easy-payments of Buy Now, Pay Later.  Stuff that people will later on have to pay for get rid later on. Things often with little value, often with most of the value used up shortly after the product is delivered, and before it’s paid off.  Stuff folks can’t afford and won’t be able to pay back. It just makes me sick.

I have never liked consumer credit for any purpose. If you can’t afford it now, then you shouldn’t go out and buy it. Instead, you should save money, put it away until you have the money to buy it. Don’t take advantage of zero percent financing, but instead take advantage of the interest you can get from FDIC-insured savings accounts, especially the higher-interest online accounts. And when you take your time, you can reconsider how essential the purpose really is.

There are a lot of people out there who are legitimately poor. I get it, I grew up that way too. But I also have always rejected credit — if I can’t afford something, I won’t buy it. If there is something I really want, then I will wait until I have enough money saved up to buy it. Time to consider the product more carefully before purchasing. And I have always learned to live with less, even if at times it’s less comfortable.