We Need To Talk About “Buy Now Pay Later”

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[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.

[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.

[dotsonms]

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

[finestgrowth]

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

[robertflores]

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!!

[stephenflowerday]

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

[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.

[Missy-Missy]

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.

[tomasviane]

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".

[ticktock]

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

[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 YouTube comment, so I'll shut up now.

[BettyVincent-oisp]

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

[maryamchaudhary]

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 :)

[dianawilde]

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.

[LindaDooWop]

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

[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.

[vytallicaq.]

"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. 👍

[johnperrin]

Thank you for your videos.

Knowledge is power, and you are an excellent teacher.

[TenOfZero]

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.

[bryonyvaughn]

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.)