We Need To Talk About “Buy Now Pay Later”

[@archangel_josh]

I was in a pub and I saw a poster of a group of people enjoying food and drink with a big 'Afterpay' symbol above them saying "We now accept Afterpay here!" Afterpay at a pub. If you're using afterpay to afford a chicken schnizel and chips and a pint of beer then you have no business being out in a pub.

[@echelonrank3927]

somebody should change its name to aftermath

[@VegasMilgauss]

I like going slumming sometimes too

[@chaoticallysay2625]

😂😂😂might as well just go to the store and enjoy a beer at home with friends

[@UsurpersAndAssassins]

All my life, people laughed at me for refusing debt. (I had a bad experience early in life and never wanted to repeat it). Now they all come asking for advice on how to unfuck their lives. Debt is the Devil. Pure and simple.

[@seltzermint5]

yep that is starting to happen for me in my 40s. My friends seem to have a little more material stuff than I do but they're all kind of confused when none of life's little snags and unexpected bills faze me one bit. I don't talk money with them but I know they do not have considerable savings at all, or any investments outside of workplace retirement 401k.

[@robertkennedy8503]

And you do it all to yourself, but many people refuse to take responsibility for it, is always someone else's fault.

[@MHKing03]

Good on you for turning transforming trauma into a valuable life lesson. It took me a little longer, but now I'm obsessed with money and finance and my life is so much better for it. But, I have to say debt itself is not evil. It's just a tool, albeit a dangerous one. If you use it carefully and only in the right circumstances, it can help you make more money or improve your financial situation, which is how it should normally be used anyway. Medical debt shouldn't be necessary but unfortunately it is and without some people would die. The evil is usually in the salespeople, executives, and other sociopaths running corporations who are fully aware that they are bleeding customers dry but justify it to themselves and do it anyway.

[@redpilledsimp_5010]

Finally! An ally. My first rule of finance: all debts are evil. (An extreme few a necessary evil).

[@joearquilla]

Who the hell would laugh at you for refusing debt? .🙅‍♀ I guess I assumed it was the other way around. People do call me cheap, but at this point, its a badge of honor. 🙌 All the best!

[@stephenflowerday4038]

Very wise words. It's a debt culture here in the UK too. I fell for it as a young man and it took me years to overcome (worst time of my life). No matter how bad things get or tempted I am I'll never borrow a penny now. My parents were right all along .............

[@robertflores8789]

Ever since and I mean EVER SINCE this young woman said "If you have to use credit to pay for it, you can't afford it..." this has stayed with me for every single money decision. I said to myself Dude she's absolutely correct! And wouldn't like to have been able to buy a house like she did??? So maybe the house buying option is out of reach but I did get all of my credit cards down to 0 and have kept them there. All I have to handle now is the debt consolidation loan and I have been...3 years away from paying it off. Of course I am trying to make that a lot sooner!!

[@RustyDice]

Last time I tried to pay cash for a car, I got 10th Dan Blackbelt Finance guy on my case trying to tie me in to 6o months at 14% and 8k final payment (on a 19k car) because "why would you waste cash?" - when I stood my ground they got heavy on "And where did you get this cash?" "Bank robbery and this is the get away car. So can we get over the fact I'm not financing this and speed things up? Ha-ha" Crickits. 😂 Their entire margin was on lease or finance. I split when they tried to up the agreed price.

[@marcdc6809]

weird, I guess that's what happens when they are in on the scam of putting you into debt... usually on large purchases you should be able to get a discount when you can basically assure the person who sells you a hassle free transaction. I've heard of people doing this when buying a house, basically carrying the downpayment in cash...

[@xlerb2286]

A reputable dealership won't behave that way - but they're few and far between. I was looking at a used VW beetle that was one one of those "poor credit is ok" lots. It was reasonably priced and I just wanted it as a toy. That place did the same thing, they just did not want to sell a car without them doing the financing. So I left. Didn't even try to deal with them. Plenty of fun toys around without having to deal with sleazeballs.

[@RustyDice]

@xlerb2286 was a main franchise dealer - The second one I went to was again a main dealer, and while they grumbled, they were okay for cash as that car was offered at 8.5k. I put the extra in a high rate account and put it towards my house deposit.

[@learningisfun2108]

Glad you took your business elsewhere. I hate these guys who want me to finance. It is in their best interest, not mine. Just walk away: that is your superpower.

[@personnesenki4521]

A lot of times dealers won't give you the best price if you insist on paying cash. For me, I would finance with them, then wait a day or two and pay off the balance immediately. Dealers *really* hate it when you do that, as their commissions come from the first few months of loan payments.

[@tomasviane3844]

I even bought my (small) house without a loan. Saved up enough for it over the years and moved to the cheapest town in the country. So... yeah, I'm not gonna go in debt to buy a pair of shoes or a pizza. I guess the crowd you want to reach is the crowd that is not watching your videos anyway. They're probably watching stuff like: "The 10 best things to buy on Amazon right now".

[@avdrrew]

Actually, as a 19 year old who has fell for the Klarna, After pay stuff, I can say that I’m the one she’s talking to🤦🏻‍♂️😭

[@finestgrowth]

" If it's too good to be true, you're about to get screwed." Good one, Nicole 👍

[@dotsonms]

I got so deep in debt with these services. I finally got away from them. Thank you for spreading awareness!

[@dianawilde417]

I furnished my flat with klarna. Every 3 months after I'd paid something off, I bought the next piece of furniture I needed. I couldn't have done it without Klarna.

[@brianh9358]

Sure you could. You could have saved the money up and then paid for it. But that would require delayed gratification. :)

[@emc6511]

Well played, Diana. You used it; it did not use you. You delayed gratification and purchased one thing only, paid for it w/out interest, then purchased the next item and repeat.😉

[@HelenPrimoRoseanneInYourArea]

Totally agree with the original comment, some of you clearly don’t how life is on poverty line, if that’s the only way we can afford things, we complete our payments and budget for us then let’s us get on with it, why does it bother you rich folk anyway what we do 🤔

[@dianawilde417]

@@HelenPrimoRoseanneInYourArea thank you Helen. Yes, I work as an aged carer and barely earn a living working 60hours and more a week. Klarna has been a God send for me. I also don’t nt have any credit cards as I’m very afraid of getting into debt.

[@ogvelociraptor205]

I use Klarna for My Dickies T Shirts which I wear to work and order 4 to 5 at a time and pay it off within a Month, ordering new one's every 3 Month's I also use Afterpay for My New Balance Skateboarding Shoes which has worked out in My favor. I think I'm done with Amazon which was a long time coming!

[@vytallicaq.6881]

"Neither a borrower nor a lender be". I learned that wisdom nugget at an early age. Not from my English Literature class, but an episode of Gilligan's Island. They did a musical version of "Hamlet" on the island.😂 Sometimes those fun, silly shows are smarter than the serious ones. 👍

[@tonettesharp6418]

Herald Heckuba---Phil Silvers!

[@Missy-Missy1111]

Many working poor people have so little to look forward to. Also, all the luxury ads they see they just want some of the stuff like everyone else. Most importantly, they want relief from their deprived life. Therefore, when they get a little extra money, they spend it on luxury items instead of saving it or investing it.

[@rbnhd1144]

I think the luxury items many people desire rarely live up to their expectations.

[@turtleanton6539]

Yes😊😊😊

[@BettyVincent-oi6sp]

At age 75, I DO NOT click ANY of those damn buttons!

[@grannyprepper1181]

I’m right there with you Miss Betty. I may be old (71) but I’m not stupid. I have a credit card that pays me 2% back on everything and I use it for everything. I pay it off in full so no interest. I average $400 a year cash back, so they pay me. I’ve been doing it this way for over 4 years and not paid one dime in interest. It can be done if you pay attention to your account.

[@arskortguldsj]

​@@grannyprepper1181 Well, I am (78) and I do the same thing! The trick is that you can be tempted to buy more when you're using a credit card compared to a debit card, since you don't see the purchased amount hitting your bank account directly in real-time. So, the cashback you save might be spent on additional purchases you might not necessarily need. I use a cash back credit card to earn rewards, but I transfer the previous day's purchases from my bank account to the credit card account every day. This way, I can at least feel the impact of my purchases. I always maintain a positive balance on my credit card to ensure the card company doesn't hit me with any charges. I live in Sweden (the homeland of Klarna). Most e-commerce sites handle their checkout through Klarna, but you always have the option to pay with your debit card, directly from your bank account, or even by direct money transfer. There's also a deferred payment option listed, which might be tempting for someone who can't afford to pay for a pizza delivery right away.

[@htbmixbox]

don't buy things you don't need. Don't click email you don't expect. Don't answer calls you don't know. And the shocker - add all things you have to pay per month - divide them to 3 sections - must buy - existential, nice to have, and can be removed. Focus only on existential ones.

[@jochenkraus7016]

The problem is that I now "need" this toaster. And who are you to gatekeep by telling me I shouldn't finance it? 😅

[@htbmixbox]

@@jochenkraus7016problem is - I can't ;) if you need it - buy it. I just don't want you to get bankrupt because of these 30 toasters in the kitchen.

[@jochenkraus7016]

@htbmixbox I already have a toaster, so don't worry. The funny thing was that I had no idea that a toaster like that exists.

[@JJBushfan]

When I was growing up in a working class household in the 1950s/60s UK, buying things on credit was considered a little shameful. (It was referred to as 'the never-never') The basic rule was that if you couldn't afford to pay for something, you didn't have it. And as long as people had sufficient of the basics - food, fuel, a roof over their heads, basic clothing items, and a little extra for a bit of simple recreation and a cheap holiday once a year - they were content. Believe it or not, they really were. And then everything changed as the sixties wore on. Lifestyle became an increasing obsession, the near-manic drive to consume got underway, the monetarist principle raised its ugly head, the fruits of industry were given away to the Far East where costs were lower so we could import things more cheaply than making them here, and this is where we've ended up. Crippling debt everywhere. It's why people will spend large sums of money on the latest iPhone while their children go to school without breakfast. And I don't wholly blame them because that attitude has been ingratiated into their value perception by the corporate world, the mega rich entrepreneurs, and the damn politicians. But this is too big a subject for a KZbin comment, so I'll shut up now.

[@rbnhd1144]

I love your comment and totally agree as I'm from the UK, I remember those days too. Totally agree with far east comment too, let me add that transporting everything from China is polluting the world, plus most things they make are disposable so its a bad cycle.

[@elijaprice]

Oh weird, I just had a strange feeling of nostalgia reading your post - I hadn't thought about it in years, but when I was a kid my dad used to say "We might be poor, but we're not living on the never-never."

[@ticktock2383]

Debt is Evil. The companies want you to be in Debt forever and ever. I have not had a car payment since 1987.

[@bryonyvaughn2427]

Remember layaway? In high school I remember buying a few items on layaway. I'd put money down on my purchase(s), sign the paperwork, and they'd store it in the back. Every week I'd come in to put money on my layaway and, once it was paid off, take it home with me. If I changed my mind I could get most of my money back and they'd put the layaway items back on the sales floor. The only people paying anything for the service were the people who didn't finish the transaction that way. It seems a more fair solution to everyone (except those who think it's their right to extract wealth from everyone else.)

[@summerjoy247]

I miss layaway 😞

[@seltzermint5]

Once I put a bunch of furniture on layaway for 2 months until closing on my home so that I would have it, at the sale price, but not have to pay to store it. They were confused when I paid for 90% up front!

[@bryonyvaughn2427]

How very clever, @@seltzermint5 !

[@TenOfZero1]

The problem with those fees are the same as with credit cards, we're all paying the inflated prices whether we use the service or not.

[@rbnhd1144]

Sadly the uninformed put us all in this position, I hate these trends.

[@LindaDooWop]

You even manage to make me laugh! Great sense of humor.

[@philipdefrancisco7540]

My best friend always has the QVC shopping channel on in the background..........and the spiel about "four EASY payments of" makes me feel sick. And yes, they sell a lot of food. They prey on people's weaknesses. Sickening.

[@johnperrin914]

Thank you for your videos. Knowledge is power, and you are an excellent teacher.

[@tonyp9313]

1st time I heard about that knowledge quote was when I played Mortal Kombat back in the day.

[@BathtubMary]

I have been sending your videos to teachers. They love you. Your work would do so much good with our kids. This kind of message from someone such as yourself can turn the tide. These young folks need to know how to protect themselves in ways that past generations never had to. The older generation is preying on them and eating them up. And...man that toaster was AWESOME...man, I really want that toaster! That was so cool looking!!! I am not buying it...I am not buying it...I am not buying it...

[@curmudgeon1933]

It is almost criminal that schools don't teach students about financial literacy. Contracts, credit cards, interest payments, mortgages, and bank accounting scams should be required parts of any syllabus. Of course, because many schools are for-profit businesses, it is not in their best interest to teach people how to avoid being scammed and ripped off by the sharks...they might be forced to reveal how much students are being conned by already being thousands of dollars in debt with student loans, before they earn their first paycheque.

[@ScottFrick-m2h]

I’ll refer to your rule if you can’t afford it twice…. They’re even letting people finance flights now 🤦🏼‍♂️

[@Lilaliba88]

I am just a musician, no financial savvy whatsoever. And I was not even good in math. Yet it baffles me how tf people want to spend the money they don't have for useless crap they don't even need. I hate being in debt (and I am not), but something like a house mortgage makes sense - we need a place to live and it's better to pay for our own than rent lifelong (imho). I even understand financing a car (if it's a realistic one in the context of our life situation) because cars are mostly necessary to be able to arrive to work and back and not losing so much time commuting by multiple public transportation vehicles. But a luxurious bag? Jeans? Pizza? Whyyyyyy

[@johnathin0061892]

Expensive designer bags and a sense of entitlement almost always go hand in hand. One reason I refuse to sell them on eBay, you don't want to deal with people with severe entitlement issues, they are always trouble.

[@bigdogblackie]

Haven't you heard?? The entire USA economy and budget are on the buy now, pay later plan! Or rather, your grandchildren and great grandchildren and great great grandchildren can pay.

[@biib-qw3rt]

the most terrifying thing to me is how intertwined financial stability can be with MENTAL stability. Dont get me wrong, i have my fair share of obsessions that i finance myself, but my ultimate goal is to see through financial trickery like this 💀

[@philipdefrancisco7540]

Being "on guard" your whole life is tiring, isn't it? Anxiety is the worst. But "they" always seem to come up with new crap to fool us.

[@biib-qw3rt]

@@philipdefrancisco7540 definitely mate. I guess keeping some sort of guard up is how humans survived for as long as we have, no peace no quiet but still gotta keep chugging along

[@janetstraw191]

OUCH Nicole! I wish this was your video last week - I just had to replace old gutters. This was nearly 10K. Of course they took credit cards and also offered a 24mo. Zero interest plan. I asked how much of a discount I would get for cash. When the salesman said 3% I took it. If I had known more then, I’d have asked for SIX percent!!!😡 So thank you! I will know better next time!🙋‍♀️🇺🇸👏👏👏💕‼️

[@GeezerAnonymous]

The real crappy thing is - even if you don't use those POS services, even if you don't buy crap you can't afford, even if you pay all your bills on time, even if you don't have any real debt, - whenever you do buy stuff you're paying the inflated prices caused bt those who fall into these traps or perhaps worse paying extra to make up for those who eventually default on their various debts. We pay for the mistakes and bad habits of others. I've been poor in my life, and can sympathize to a point. But I learned the choices I needed to make to get out of that. Not always easy. But if I try to make these points to someone I just become another grouchy out of touch old man.

[@brianh9358]

You have just defined what happens in the car and house insurance industry also. You are pretty much paying for everyone else's stupid behavior in conjunction with their wishful thinking.

[@GeezerAnonymous]

@@brianh9358 Agreed, mostly true. But at least insurance if done smartly can help you out when simple bad luck happens

[@electricfishfan]

I’ve felt this increasingly. I’m very selective with my interests and it’s crushing that most times I shop for something a little out of the ordinary, the price is so inflated because I presume people looking for “oddities” are willing to pay irresponsibly out of personality flaws or emotional attachment. For example, when you go into a knickknack shop, they’ll be selling absolute crap for $30+. Huh?

[@uui219]

It's so wild how the ultra-rich trick people like you into blaming your neighbors for THEIR evil schemes and exploitation. Lol. 😂😂😂😂

[@robertflores8789]

have never used affirm or anything like this because like Nicole said "If you have to use credit to pay for it, you can't afford it" This is now my financial mantra like from now to death.

[@maryamchaudhary1577]

I subscribed to you as of yesterday and I must say that your videos are a lot more refreshing as opposed to the endless video essays that the algorithm has inundated my feed.. It reminds me of pre 2016 youtube :)

[@jimc9516]

all the more reason that we need financial literacy classes in schools like yesterday

[@qyn8886]

They just won't because these businesses prey on those who aren't so good at business or maths. And in some places these businesses fund some schools.

[@AccordingtoNicole]

On the surface I agree, but do you think anyone would even care or pay attention?

[@Luci-pz8xx]

@@AccordingtoNicole American students would be too busy looking at their phones now a days.

[@markritacco270]

@@qyn8886 🎯

[@jimc9516]

@@AccordingtoNicole some kids don't pay attention to anything in schools that's taught today, but that doesn't sound like a good reason not to teach the ones who do.

[@Wanderful1]

Spot on and great delivery! You are getting very good in front of the camera!

[@seajayami]

Great heads up - I see you found yet another scam for us to avoid 😂 - you will likely find more in weeks to come. By the way, following you on yt has convinced me to go minimalist - it's been a long process over the past year, but I feel much lighter in all ways. Thanks!

[@tvc380]

That was very informative, but i love Affirm. Ive used it to pay off a $1200 E-bike and $1400 refrigerator. I prefer the small mothly payments on large purchases.

[@johnrogers1251]

Did you *need* a $1200 E-Bike and a $1400 refrigerator? No, you didn't! You must be a hipster if you want a $1200 E-bike, and my ~ $400 refrigerator is more than enough for me, paid in cash years ago. Yes, I'm a boomer, a Vet, and damn proud of it! GET OFF MY LAWN, SONNY! Go drown in your latte!

[@jochenkraus7016]

​@johnrogers1251 1200$ doesn't sound like much for an E-bike. I only wonder about two things: What happened to save now buy later and why are you seeing people on your lawn where there aren't any?

[@radley3519]

Im working to get all of my klarna and afterpay and sezzle paid off. Cant wait

[@randomentertainment9232]

I think a lot of it is self control. I used affirm once and paid crazy interest (never again) so I can understand that but I've used afterpay like 3 times and had no problems. I always paid earlier or on time and never had to stress about interest. As a student, this was super helpful as it helped me afford my laptop that I use every day for school. My rule is that I only finance one thing at a time, not do it unless it's a necessity, and only finance things that I can afford to pay comfortably every 2 weeks. Many people get carried away and finance things they don't need for outrageous prices they can't afford. Self control is key.

[@-All5ofus-]

"Financing a f🍕cking pizza" 😂😂😂 Thanks for taking the time to not only inform us, but to entertain us as well! I use to do layaway years ago, before I built up credit. Gone are the good ol' days.

[@seltzermint5]

I did layaway in my 20s in college to buy holiday gifts for my family and friends. I don't regret that. I am glad I used it in a responsible way and more glad I don't need that now.

[@brianh9358]

With the price of pizza now - not surprising.. lol. Those frozen pizzas look better and better when you know the price you are paying for takeout.

[@mettamorph4523]

Off topic but here in America, I finally found a decent frozen pizza. Home Run Inn.

[@HelenPrimoRoseanneInYourArea]

For some of its been our only option after 3 days of going without food, if you’ve never been in poverty you’ll never understand, this her views but she puts it across as though she is the only one who could possibly right, if some of are poor and fiance our vehicles then let us get on with it!

[@AccordingtoNicole]

Make a sandwich.

[@edwardpresutti2941]

Rent-center...sell to people with no credit cards (lots of immigrants/working poor)... The monthly payment is usually enticing... The hook is that $300 t.v. will cost u $900 if u just pay the minimum... Other stuff they sell is worse etc..

[@seltzermint5]

good example! My ex worked for a company like that early 2000s. He got into it because they paid managers very well but he could NOT do it with a clear conscience. Even though he wasn't the one scamming people directly, it was just too rough, seeing people be taken for a ride like that. Once right before he quit he actually bought some kids an Xbox 360 because theirs was getting repossessed and he just couldn't take it. He also told me about an older lady who couldn't afford her washer and dryer but had already paid so many payments she literally paid for it more than once in full. It's awful that people are taken advantage of that way and you're so right, usually people who are vulnerable for multiple reasons.

[@christopherdecker3830]

I agree, avoid if possible, and, if you can't, only use it on things you need, like work shoes if yours go bad at the wrong time!

[@editboy09]

Yeah I kicked an addiction and strangely when that happened I started shopping for new clothes. Clothes I didn’t need. And oddly enough when I filled my closet with new clothes I still wanted more. It was like I dropped one form of addiction for another. And after a while I started using Afterpay when money started to get tight. This lasted nearly a year. And as bad as it was I try to look at the bright side - at least I didn’t develop a gambling habit or started taking drugs. Things that could cause me to lose my job or my home or spouse. And I’m now managing my impulse to go out and buy more clothes.

[@shlf2615]

Just like using credit cards, these services do help poor people and those on a fixed income (who cannot get a proper credit card) to build their credit scores. Mine is over 100 points better after using store cards and using these payment services carefully - and not for extravagances, but needs. A thing itself is not evil inherently - only good or bad by how it's used. Even though I agree that these services DO entice some people to spend more than they should, that's on them, not the service. And many of us seniors or disabled folks on a very low income budget carefully, but still need the option of small monthly payments for things we need. Just another point of view to consider. :) Thanks Nicole!

[@Zizaco]

It's sad that the very person whose services are designed for is illiterate enough to not understand why it's bad in the first place.

[@ziprock]

we need to teach financial literacy in schools NOW

[@allisong6433]

Yes they need to warn kids about credit and loans!

[@johnrogers1251]

There is a reason financial literacy is not taught in schools - banks do not want an educated consumer.

[@artislumara]

I am having kind of a 'bad day', but now I am already feeling way better, since I am in no threat of buying 'the ugliest toaster' XD ah, hilarious.

[@damac2k2]

Used affirm to buy computer parts and upgrades because it was smaller payments that I would pay off later. Nearly $1000 racked up, because I could afford the payments of $75 a month. Later came and went. A few times. Paid off the final loan earlier this week. The final payoff was less than the sum of the total 11 remaining payments. Removed all cards linked in affirm immediately after the final payment cleared. Never again as long as I can help it.

[@marcelinomedina3232]

I love this channel!

[@Schnitzeljunge]

I wouldn‘t go that for to totally ban these services. Okay, most of them but I use PayPal pay 30 days for example when I order two shoe pairs in different sizes. Then when the order arrives I try them on and if I I like it and it fits me I pay directly the amount I have to pay and the other pair will go back to the shop. I don‘t exceed to the 30 days. But that’s just me.

[@7Write4This9Heart7]

LMAO. Just listening to you list all those monthly payments (and the idea of being in debt period) made me sweat! I've never trusted those Buy Now, Pay Later scams, and this is why! Always seemed predatory to me! How awful!

[@Jules_Pew]

Bring back discount for paying cash.

[@TheFatesLieutenant]

I guess I don't shop enough to have seen these, but what an insidious evil! Wow.

[@bunny_smith]

They're there. You likely haven't noticed. I don't shop much, either. But I've seen them.

[@TomKnoll]

I love the example of the toaster - a product that nobody would need in the first place and still there are a trillion payment options...

[@RUMNIAH]

I bought a $59 umbrella only to find it was a shady deal

[@elijaprice]

You should've saved the money for a rainy day.

[@damac2k2]

I see what you did there 😉😊

[@karenharvey7197]

Never used them. Never paid any attention that they were even there. I am a wise old baby boomer though.

[@xlerb2286]

Same here, I see that type of thing and just think "Nope, you're 40 years too late to get me to fall for that". And knowing that a company is offering that type of service to their customers I'm not as likely to shop there either. Good businesses respect their customers, sleazeball businesses try to take advantage of their customers. I don't do business with sleazeballs.

[@johnrogers1251]

Same here. I'm one of the last of the boomers (born in late '64) and the younger generation just scares the piss out of me. When I'm shittin in my Grampers (I used to say : OLD and shittin in my Grampers, but I'm now old), they're the ones who'll be running the US. God help us all!

[@cursemudgeon]

6:29 Levi displays his hidden ability to teleport

[@pokeypickle3]

Instant gratification is the best human trait for BNPL. Even investing in BNPL stocks ends up in a crash 😂

[@allardvanderstarre]

i simply dont use these things, no amazon, no none of those things: in any case think a few weeks before buying anything big; also spending sell, minimizing and selling off old stufff

[@Christian-qu9ml]

The only debt I took on was a house loan, which was good in the long run...and the University loan, which was a complete waste of money. 🤑

[@WeededRican]

It's all self-control and know what u can afford. Learning how to budget yourself

[@garlicgalore]

I have lived debt free most of my adult life an it is true freedom. There are things that make the playing field uneven, so I acknowledge I've lived in a sweet spot most of my life. But there are also choices to make a long the way - I just bought new (on sale) work clothes for the first time in 9 years, for example. So, yes, leverage where you can to stay debt free. And keep being snarky.

[@TheDowntownHermit-xj6rq]

I only use cash or debit card.

[@colleenmarin8907]

I never use my debit card for purchases - if (when) there's a data breach, you could lose everything in your account. I use my credit card which has consumer protections against fraudulent activity. I just make sure I only buy what I need and can afford, and pay off in full each month

[@seltzermint5]

I use a credit card for almost everything but pay it off in full every single time. Cash I am using more and more though for restaurants and small businesses as their cc fees are getting astronomical and some are charging extra fees to the customer.

[@TheDowntownHermit-xj6rq]

@@NoBody11010 It's so sad that no one loved you enough to teach you manners...

[@TheDowntownHermit-xj6rq]

@@NoBody11010 I would and I have. I have toe to toe experience.

[@olalekananthony3299]

Lol. what a great video. I paid off my last payment on after pay yesterday and had the courage to delete that app.

[@potapotapotapotapotapota]

That being said, when I had no money it was a life saver for me to buy something I needed immediately but could actually safely pay off later. That's why these things have limits to the amount of money you can purchase with. If you ask me, the biggest scam is and has been for a while now the real estate market. If the saying don't spend money you don't have was ever true it would be that. The day you can't find a job, you are screwed.

[@joearquilla]

Ha! Brilliant as always. I notice these in check outs at times, but perhaps I did not consider that these services actually offer payment plans for broke people to pay for their doordash by making 5 payments linked to a near maxed credit card. What a bottom feeder existence. Its truly sad.

[@brianh9358]

Anybody ever use those rent-to-own stores? (Aaron's?) This whole scheme reminds me of that. :)

[@mavman0131]

you tickle😆🤣 me. I love it! "if it's too good to be true, you're fixing to get screwed." New twist on an old saying I love it!

[@Ryan-xq3kl]

lmao just because some people use debt irresponsibly doesn't mean the service of 0 APR loans is a scam. That's ridiculous.

[@carl2724]

Unfortunately I owe $1200 between Klarna and Affirm . The payments are Garnishments to my paycheck. I needed furniture with them but it is still financial disaster

[@RainneRae]

Great video…you nailed it👍

[@ClairenParkerontheRoad]

Lol you know your life is in shambles when you don't own the pants you're wearing you are so freakin funny nicole 😂

[@JasonMorford]

I hate most forms of credit. At the age of 40 I had bought both my wife's and my car with cash (both new) and bought a newly remodeled home with cash. Our combined income until that point was always under $60k. We switched houses since then and took out a small loan that will be completely paid off within 3 years and my student loans are paid off from my master's degree. My wife still has a loan from her newly phd, but we will get that paid down within three years too.

[@Luci-pz8xx]

I could see the use of paying in 4 payments with no interest if it's an emergency and you need to make a large purchase now (like a new refrigerator). It would stop the person from going to a payday loan place or putting it on a credit card. However, It's really easy to just forget about the payments and get charged interest + late fees. Buying it for small items and purchases is just idiotic, especially if they make the argument of investing the other payments. I would rather just save up for 4 months and decide if I really need the item afterwards.

[@Luci-pz8xx]

@@NoBody11010 I don't know how it is in Canada, but ~40% of Americans don't have $1000 in an emergency fund.

[@garyfraserlewis]

Surprised they haven't shut you down. Keep it up kid, the world needs you. Spread the word. x.

[@theintrovertedaspie9095]

Why would they shut her down? This is good advice.

[@johnrogers1251]

Who's "they"? "They" must be a very popular/busy person/entity, since "they" are often the source of all the trouble in the world, when in fact the truth is that people do not want to take responsibility for their actions - it is always someone else's fault that a 'wrong' was committed.

[@DaveSimkus]

Your humor level is excellent. I love that you also sprinkle some curse words in there instead of trying to be extra clean for KZbin.

[@pltjess]

It's not Affirm for the hospital system, it's CareCredit, so... yep, it exists.

[@kerryf9796]

I've never used any of those services. I see them, but I never really pay attention. We are debt free minus our mortgage, but within the next two years that will be paid off two. We have "car fun" so when we need a new car, we can just pay for it. There was a great deal last month, so we did just that. We purchased it with cash and it felt GLORIOUS!!! I don't know whether to laugh or cry that you can actually finance a pizza! 😮

[@mtnbiker14]

Wow - never used these services, but see them a lot more often. Always figured they get you somehow - just never looked into how bad they actually are or potentially could be. Bottom line is more than never use them. It's spread the word because if they become popular enough, you'll get screwed anyway, regardless.

[@VegasMilgauss]

As an investor in these companies… who cares! We win. No one likes a hypocrite.

[@kendragreene5953]

Why are you reading my mail!😂😂

[@anaisanwar8424]

I don’t use after pay. I use before pay! Meaning before I pay for something I ask myself do you really need this ? I wait a day. Usually by then I’ve come to my senses and not buy the shiny new item.

[@OPCollecting]

I don't see an issue using Shop in Pay or Paypal in 4 since its 4 payments with no interest for high ticket items. It helps break up the payments if I need something now and can budget for it. I wouldn't be paying more since there are no interest charges.

[@qnonymous482]

who buys a $800 toaster? I say lease an item, as long as the price isn’t super high. I was evicted from my prior apartment cause my expenses and debts had risen above my income. Plus I had a bank that charged $30 overdraft fees. And I leased a car above my budget cause I didn’t see any other options. My job was just a mile or 2 up the road. I could’ve just leased a e-bike which would’ve saved me a ton of money.

[@TheREALJosephTurner]

There's only two things I take monthly payments on. The first one is property- I own multiple connected properties that I finance through my credit union. About another 3K and ALL my properties are paid off. The second thing, most people would consider frivolous, unless they're musicians. That thing is instruments and recording gear- when they're to expensive to buy at once. The ONLY place I do that with is Zzounds, because they don't charge any interest. The only money they make over what they make on the gear is a one-time fee between $7-$30, depending on the length of the plan (4 months to 18 months). Yeah, it's still a pay-later deal, but you won't find a cheaper way to do it as far as music items go.

[@terrijackson5255]

I love You! You say what we're thinking out loud, keep it up.

[@realSamAndrew]

Because Justin Cas... I mean Trudeau is so much better.

[@thomaschew2191]

Of course the Biden administration has been such a success.

[@bertmunoz7100]

Is always fascinating how people complain about inflation but are willing to pay anything for "CONVINIENCE". Not to mention the "I deserve it" mentality, which will get them to spend money on "TOP SHELF" stuff.

[@JubeiKibagamiFez]

You definitely got my BP up after this one. I want to say "I can't believe services like exist." but that would be a lie on my part. I'm not surprised in the slightest that services like this exist.

[@k05tya]

If it's true that pizza price already includes interest charge for that loan, then it makes more sense to take the loan every time, even if you can afford full price right away. But I find it hard to believe that price is higher because the company is offering that free loan. Most likely they make up interest costs because they are able to sell more (thanks to people who because of the loan buy something they can't afford). Just as cash back on your CC is being paid by people paying interest after making bad financial decisions, not by merhant comission. So if you pay your CC in full every month you are benefiting from those people, not paying more for their mistakes. Your financial success is more about behavior than math.

[@overcomingwithin]

my parents always taught me to pay cash for everything, and if i don’t have the money to not buy it. no debt at 30 years old. the only debt i plan on having in the next year is a mortgage

[@JaakoRasiia]

Paying 6% more for a product is completely fine if you get it financed interest free for 2 or 3 years assuming you make somewhat decent returns on your financial assets. In fact you should buy everything this way. But you need to have the money invested in something. If you do not understand this you do not understand finance.

[@heisenberglinks]

Installment payments are a thing for as long as credit cards exist in Brazil. I believe that here if installment payments didn't exist, our economy would collapse because almost no one would be able to afford anything upfront.

[@seltzermint5]

I have seen this so much when shopping online and didn't give it a lot of thought until this video. But I find it funny my initial thought was always "oh that's sad" (splitting up your $60 handbag or $80 of nice cosmetics into 4 payments) - I would never do it!

[@AccordingtoNicole]

It’s exploitation. But people let it happen.

[@seltzermint5]

@@AccordingtoNicole definitely.

[@Nobarkus]

I have my own BNPL, my credit card. Then at the end of the month I wear my debt collector hat and start calling myself in my head to pay it off at the end of the month! I have a good habit of asking myself "do I really need that?" Usually it's a "no!".

[@LindaDooWop]

What I love about you, Nicole, is you give advice without being preachy or a know-it-all or holier-than-thou! I have a sister who you would just want to smack when she gives you unsolicited advice! And we ask for the advice from you.

[@georgeandrews2839]

I try not to "Google myself" in public 😅

[@faeriesmak]

I am in the US. Over a year ago now I had to go to the ER. I am STILL paying off that trip to the ER after my insurance paid part. I had to arrange a payment plan with the hospital so it is sort of like using Affirm.

[@acidityliquidity211]

I went to a class that essentially teaches you to complain about how people treat you at work. Im not for the class at all. To me its an unproductive class that Im being required to wast my dues for just to move onto a career. They had us decide on a set of things that we think should constitute minimum wage (like how many meals a day, or how many bedrooms). One of the items was utilities. The options under utilities were pay it in full every month, finance it, something else, or no utilities. I thought that financing utilities should have been listed first, then pay it in full second; but nobody else thought that. If you have to get a loan to pay of this month of bills, how do they expect to pay off the next months utility bill. The next months bill wont get cheaper just because you finance this months bill. Its cheaper to pay it off in full every time. Why did they think that wasnt the case?

[@Mingodough]

People are really uhh, interesting. If you use a credit card you can basically do the same thing with a credit card, you have month till the next billing cycle to pay off whatever is on it

[@nibekus]

As if Trudeau is any better 😂

[@paul_domici]

She was being kind calling him a mentally unstable reality star : )

[@BrianK-zz4fk]

mr WEF causing the problems she is complaining about but blames 🍊man 😂. was demetia joe to low hanging fruit?

[@GigaChad_169]

EXACTLY...yikes. Throwing stones in a glass house...

[@fumanpoo4725]

A braindead monkey is better.

[@echelonrank3927]

turdeau stinks

[@cameronleehorace]

But what about if you are in a situation like myself where you can comfortably afford something but chose to use klarna to pay in 3 for a pair of shoes. I have a comfortable savings buffer and the money to pay for them but thought spending £40 for 3 months at no interest would be a good idea as it is lower payment upfront?

[@antillie7]

So I could use these services linked to my CC which is in turn on auto pay so I never carry a balance. I could get ~5% on my cash in the money market fund (SPAXX) that my CC is auto paid from. SPAXX's interest is calculated on a daily basis so even if I only leave the "extra" money in the account for a few days I am still earning something by delaying payment via an interest free loan. But I don't do this. Why? Because tracking something across several monthly budgets is a pain in the ass. I would much rather have one large expense on this month's budget than smaller expenses spread out across the next several months. Tracking stuff between budgets like that is just annoying and isn't worth the 20 cents or whatever that I might earn by doing so.

[@phils473]

My introduction to this concept was during a job search. One of these companies had an office in my city. Not realizing what they do, I went ahead and applied. The more I thought about it, the more I *didn't* want them to call. They never did. Glad I dodged that one, I don't know how I could live with myself if I ended up there! 😖😖😖 These companies should be illegal! It's very similar to the payday loan thing 🦈🦈🦈