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21 sats \ 16 replies \ @OT 19 Nov 2024 \ parent \ on: How Americans Take Advantage of 'Buy Now, Pay Later' charts_and_numbers
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?
Over the long run, it costs you more.
Does it really if in the long run, your debt is worth less?
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For a house or possibly a car yes. But thats only because the debt is paid off over many years.
If its less than a year, you're likely paying more.
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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?
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I get it.
I wouldn't recommend it.
You do you though
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If I were in Europe I'd love to be on the other side of that trade.
Pity I'm not
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Oh? Why?
The fucked up thing about fiat is that you need savings to comfortably get cheap credit to save even more money
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