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'Buy now, pay later' goes from niche to normal as young people use it for daily essentials including groceries (www.nbcnews.com)

submitted 2 years ago by return2ozma@lemmy.world to c/news@lemmy.world

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[–] _sideffect@lemmy.world 20 points 2 years ago (1 child)

I saw a youtube video yesterday about a bank executive explaining banks in a humorous way, and the best line was

"you don't need to afford the item, you need to afford the interest payments OF the item"

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[–] hansl@lemmy.world 6 points 2 years ago

He’s not wrong, but this comes off as “it’s only a banana Michael”. If he’s talking about a house, then yes. If he’s talking about groceries, that adds up quickly. Don’t just pay interests on everything.

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