Buy now, pay later?

[Castiel]

Itvis a very simple principle. Managable debt is not a bad thing, you do not need to have the capital to be able to afford something, you simply need the ability to repay over the chosen periods.

Personally I have no net debt and that is the key, when your assets are outstripped by your debts then you need to evaluate your position financially. The problem with some individuals personal debt, is not the fact that it is debt, but that it is poorly managed and their debt is significantly higher than their assets or ability to pay.

Sometimes it is financially prudent to use credit facilities, sometimes it is not. How you manage those decisions is the issue.

 

[fez]

Sometimes it is financially prudent to use credit facilities, sometimes it is not. How you manage those decisions is the issue.

That is almost the principle of everything though. To quote shakespeare "for there is nothing either good or bad, but thinking makes it so". Debt is not a bad thing unless your thoughts on debt lead it to be a bad decision.

The issue that I have with debt is that it is not a completely personal thing. The consequences of the dobt do not always sit solely with that person.

 

[atpbx]

These nothing wrong with BNPL.

Done it no end, just make sure you do pay it back in the interest free period.

The way some of these old woman on here go on about it having so much as a couple of hundred quid on a credit card is a one way trip to the debtors prison.

 

[Zero Pope]

I've just got myself out of debt caused by the whole 'small loan here, credit card there, overdraft used up, another credit card toil the end of the month' and never again will I BNPL. That said, there are people out there who are better with money than I am so you may not have a problem with it.

 

[EdGey]

It's a stupid idea to get into any debt unless its a student loan, or a mortage on a house/flat imo.

For everything else, save up and buy outright.

 

[[TW]Fox]

I don't recall saying anything to the contrary, however if you are on a median income and you want to buy a couple of thousand pounds worth of PC

then ask yourself if you really are in a position where a couple of thousand pounds of PC is really the right thing to be buying when it's likely a PC for half the price delivers 80% of the performance.

I've never spent £2k on a PC in my entire life and as you will see from my signature my PC is far from a poor specification!