Buying now and paying later seems like an attractive choice. Every company seems to be doing it these days, whether it be for camping equipment, clothing, makeup, the only thing you can’t do it on is take away food. Buying now and paying later seems like a great idea, and you’ll just pay the bill within the month or next month when you get your next paycheck. Hopefully things work out and this happens, but what if it doesn’t? When it doesn’t, you’re left paying the exorbitant fees associated with buying now and paying later. Sometimes, it makes the item double if not triple the amount of what it’s actually for sale for.
In the past, layaway programs were popular, but those have evolved to buying now and paying later. A lot of people ask what’s the difference between this and putting it on your card. There isn’t much of a difference besides the fact that it lends yourself to the potential to not being able to cover the total cost and paying more for the item.
People may have gotten addicted to purchasing gadgets and other items via late night television, and this is the new craze. Many people aren’t watching tv late into the night and lured into a show selling items they may not otherwise wish to purchase during the day. People are turning to surfing the internet, thus finding themselves purchasing things late at night not realizing what’s to come in the future. This type of shopping isn’t the reason you’re in debt and isn’t the likely reason you can’t afford to pay for things. However, you’re living paycheck to paycheck and this isn’t helping either.
If you find yourself with more debt then you realize you have or in all likely want or need, it might be time to look at what you can do to become debt free, which may include debt settlement or a bankruptcy if you’re facing a lot of debt. If you find yourself in need to talk to someone, please do not hesitate to contact me, so we can go through your options.