I see this so much from my coworkers. I could never. I’d rather do without or just steal if I really need something. Credit like that is a trap. I learned that from growing up poor. I’m 36 and debt free and I’m not going back. I’m not buying every day things on credit. I can wait a few paychecks if I need to.
it’s scary. I work in IT and many gen Z kids leave their personal financial stuff on work computers…
the spending/debt they are in is nuts… and it’s stupid stupid debt. one kid had $10,000 in credit card debt over 6 months of spending and was making like $100 payments on $1000s per month in spending. the spend like they make $250K a year even though they make 40K. he’s probably 23-25.
Jesus . Did nobody ever teach the kids, if you can’t afford it, do without? (Not counting necessities of course). Like I thought the keeping up with appearances thing wasn’t that big, but I’m starting to see that it’s very real. Like the idea of debt terrifies me.
No. They are taught that you can’t do without and you should do whatever you can do to get it. Which means take on massive debt and worry about it later. YOLO
Oof. I feel like it’s my generation’s fault somehow, but I don’t think we’re old enough to have kids that are that old. Maybe it was gen X? But I just can’t see either melleniels (my brain can’t spell it right now for some reason) or gen x teaching that? But maybe I’m wrong. Or maybe it’s the greater society that instills it instead of their parents.
“Pay later plans”? Other than credit cards, WTF are you talking about?
Yeah, I have a credit card that pays me back 5% cash on grocery store purchases. It would be stupid NOT to use it, then I pay the card off every pay day.
One issue is that credit card spending is tracked as consumer debt, but these schemes largely aren’t, so the rosy economic picture that has been painted by official numbers could be undermined by these hidden numbers.
Whenever possible, try to avoid shit like this. Credit cards and major loans too. I’m trying to avoid this until I need a loan for a house or some shit.
Credit cards are fine as long as you pay the balance every month. You even get some small perks and it’s easier to balance your budget (at least for me it is). I’m not sure how buy now pay later schemes work as I’ve never used one of those services. Does it tack on a fee or is there interest involved automatically? They obviously are gonna rake you over the coals for being late, but credit cards do the same thing if you don’t pay the balance.
In my experience it’s also easier to dispute a credit card charge vs a debit charge. Also this might just be in North America but using a credit card also builds your credit score/history which is necessary down the line for things like loans or even to rent an apartment.
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I see this so much from my coworkers. I could never. I’d rather do without or just steal if I really need something. Credit like that is a trap. I learned that from growing up poor. I’m 36 and debt free and I’m not going back. I’m not buying every day things on credit. I can wait a few paychecks if I need to.
it’s scary. I work in IT and many gen Z kids leave their personal financial stuff on work computers…
the spending/debt they are in is nuts… and it’s stupid stupid debt. one kid had $10,000 in credit card debt over 6 months of spending and was making like $100 payments on $1000s per month in spending. the spend like they make $250K a year even though they make 40K. he’s probably 23-25.
Jesus . Did nobody ever teach the kids, if you can’t afford it, do without? (Not counting necessities of course). Like I thought the keeping up with appearances thing wasn’t that big, but I’m starting to see that it’s very real. Like the idea of debt terrifies me.
No. They are taught that you can’t do without and you should do whatever you can do to get it. Which means take on massive debt and worry about it later. YOLO
Oof. I feel like it’s my generation’s fault somehow, but I don’t think we’re old enough to have kids that are that old. Maybe it was gen X? But I just can’t see either melleniels (my brain can’t spell it right now for some reason) or gen x teaching that? But maybe I’m wrong. Or maybe it’s the greater society that instills it instead of their parents.
Think of Pay Later as stealing on lay-away.
“Pay later plans”? Other than credit cards, WTF are you talking about?
Yeah, I have a credit card that pays me back 5% cash on grocery store purchases. It would be stupid NOT to use it, then I pay the card off every pay day.
Groceries + free money.
There’s two forms.
Some banks offer to split payments on debit purchases after you make the purchase.
Some stores (mostly online) offer it at checkout.
There’s no credit checks, and it’s easy for the buyer to not realize what’s happening.
Every single time you do it, a 3rd party company opens a line of credit for it.
It’s like getting a new credit card every time it’s used. Which demolishes peoples credit before they realize what’s going on.
But there’s rarely interest if paid on time, so people just don’t understand the damage they’re doing.
90% of everyone else does too. **With credit cards. **
Lol what? Who puts groceries on a ccard??? This is fucking nuts.
I put everything on credit cards, love those cash back rewards. I also pay them off in full each month.
That is not fucking nuts, but smart.
my card gets me 3% back on groceries and 5% back on restaurants. i get back $30 each month back in rewards.
5% on restaurants! Fees? Where does one get a card like this.
capital one
People without money for food at the moment?
One issue is that credit card spending is tracked as consumer debt, but these schemes largely aren’t, so the rosy economic picture that has been painted by official numbers could be undermined by these hidden numbers.
Whenever possible, try to avoid shit like this. Credit cards and major loans too. I’m trying to avoid this until I need a loan for a house or some shit.
Credit cards are fine as long as you pay the balance every month. You even get some small perks and it’s easier to balance your budget (at least for me it is). I’m not sure how buy now pay later schemes work as I’ve never used one of those services. Does it tack on a fee or is there interest involved automatically? They obviously are gonna rake you over the coals for being late, but credit cards do the same thing if you don’t pay the balance.
In my experience it’s also easier to dispute a credit card charge vs a debit charge. Also this might just be in North America but using a credit card also builds your credit score/history which is necessary down the line for things like loans or even to rent an apartment.
How tall is that shopping cart or how short is that lady?
I believe she is crouched judging by the way she’s holding that jar
Betting on the collapse of civilization… I get it.
Haha… If the us collapses by next Friday, I got my groceries half off.
Why pay now when I don’t even know if I’ll still be alive next week?