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62 sats \ 17 replies \ @Fabs 19 Nov \ parent \ on: How Americans Take Advantage of 'Buy Now, Pay Later' charts_and_numbers
I've bought my sewing machine this way, and I sleep well.
Its not for me. I might be too old.
Over the long run, it costs you more. Couldn't you wait another week or month for the new sewing machine?
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I could, but life isn't always manageable in terms of costs; Sometimes you'll have to bite off the tip, and it's nice to be able to do so, while still maintaining enough liquidity in the accounts for other unforseen expenses- yes, you pay a few bucks more, but that's absolutely worth it to me.
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I think for me it just means you don't have any savings.
But yeah, some people just want the thing and don't mind paying more to have it right now.
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Like talking to a brick wall...
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Say I have €5000,00 in my bank account, and want to buy some things, say, €2000,00 worth.
Now I can either pay direct and thereby almost half my liquidity, or I can pay in 3,- 6,- 12,- 24 month installments, pay 12% p.a and stay liquid.
Yes, I pay more in the long run, but have a bigger buffer in the meanwhile, while also buying what I want / need when I need it.
Get it?