Buy what you want and pay for them later
One of the most common topics around is the economical roller coaster we are all in. Cash is scarce and credit is fairly easy to get. The problem with the credit is when it is time to repay it. It is a vicious circle that consumers are caught in. Regardless of these, retailers need business and they are desperate to maintain it. One option that is becoming very popular is the buy now pay later deal that is available to everybody. Everybody can check the daily deals, online, papers and flyers. Some company offers a sofa interest free for 36 months and other one gives away a laptop and you don’t have to pay anything for 2 years. It is a good option if you want to acquire expensive items that you have need of. The first deal advertised by a retailer is interest free. The regular pay off requires monthly installments that can be done over a determined time span, usually 12 to 36 months. The second offered deal is the buy now pay later option. This is the one in which the buyer doesn’t have to pay the full amount until the interest free period ends. There are weekly or monthly repayments agreed upon, but the sum is not fixed. If the buyer wishes he or she can make higher repayments per installment and even pay off the entire sum ahead of time. All these require discipline from the buyer’s part. As long as the buyer keeps track of deadline concerning the interest free period and pays off regular installments there is nothing to worry. At the same time when the costs are dragging on and the interest free period is done there are some things that can disrupt the budget. Many retailers offering the buy now pay later option, have contracts with financing companies. Once the interest free period is over the finance company joins the contract. This means that the buyer starts paying interest that can go very high. Every year that passes is increasing the debt and the initial purchased sofa that was free for 2 years will end up as expensive as a German car. Like with any other financing program, the buy now pay later option has to be carefully examined. It is a good deal but self discipline is important. Anyway, it is a good option to acquire products that are needed for the household when cash is scarce.