Afterpay, zip pay it's a scam

[Faster With Feeling]

I just had a friend crying on messenger
I told them not to sign up for this..

Now they can't pay back what they borrowed

[Dutchgamer1982]

it has its use for financially sensible people.

(you never should have ANY debt ever, I didn't either)

but if many payment scemes offer 1 year interest free + can pay off more.
if you already have the 1000 euro for your new device your can park it a year at a savings account gaining interest than pay of all 364 days after purchase.
still with bank interrest low as it is, to much a risk and hassle.
you might get 1% over your purchase sum.. is that 5-10 euro worth the hassle to me nope.

than there are those on low incomes.
there are tax exemps & certain types of welfare based on "remaining monthly spending"
setting each monty a few hundred apart to replace your appliences clothing furniture car etc so you pay them always full in cash as I do (convert all you own in replacement cost & average lifespan thats what you set apart each month) makes sense..

but to those welfare taxman organisations, they see to much disposable income and to large savings and you can looae out on hundreds a month.
if you buy devices in payments it is doing the same effectively but it lowers your monthly remaining spending and DOES qualify you for tax exempts and extra welfare.
occational those benefits are more than the interest you'll loose this way.

[Ruckman_Void]

It is called "Credit"

It has been around for a while

I guess slave-traders needed a new hustle

[Faster With Feeling]

Oooh now she wants me to bail her out. I'm not your boyfriend dear ♥♥♥♥ off

[Out Of Bubblegum]

Dutchgamer1982 a écrit :

it has its use for financially sensible people.
(you never should have ANY debt ever, I didn't either)

Disagree with both of those. Having a mortgage or a car loan are necessary in this world. And are good in the long run. Unless you have rich parents.

[Devsman]

https://youtu.be/19n7pRLgqXk?si=JaYgsbz4q8dewYUW