Any of you do this?
- Thread starter Drink
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Depends, small controllable debt is often a good thing!
Soldato
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lmao. Fair point though Nitefly.
Really, there is nothing in life that you need right now, stop setting yourself up for problems.
So every home owner should save for their house first? Genius, just genius...
Nothing wrong with buy now, pay later as long as you manage your repayments accordingly.
It is easier to pay monthly for things, however you do lose a fair chunk of your disposable income that way.
If you can manage it, then stop buying new stuff and try to clear the debt you have - it may take a long time, but make a written plan.
If you can get to the point where you're not using credit at all, but instead you're paying monthly into an account that you use for things like holidays, furniture, clothes, gadgets etc then you'll find things cost considerably less.
Having said that it's a difficult position to get to - but the difference is stark.
If you can manage it, then stop buying new stuff and try to clear the debt you have - it may take a long time, but make a written plan.
If you can get to the point where you're not using credit at all, but instead you're paying monthly into an account that you use for things like holidays, furniture, clothes, gadgets etc then you'll find things cost considerably less.
Having said that it's a difficult position to get to - but the difference is stark.
Soldato
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I can understand wanting/needing monthly payments on a PC or white goods like a fridge or something as it's a bit of a lump cost but why on earth would you need (or even want) to pay monthly for clothes?
You could run an account with a catalogue where you pay, perhaps, 50 quid a month and some months you'll spend 100 some you'll spend 0. Over time it'll average out to 40 quid a month and you may not notice that you're spending an extra 15-40% on your clothes.
It works for some people - generally people who don't have a great amount of disposable incomes, who aren't in great jobs. In the long term of course it's not financially the best option, but for some people it's the only option they can manage.
Soldato
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Well I suppose if you cannot keep up with the repayments, you could always soil yourself when they come to reposes your cloths. 
Soldato
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See that just seems completely backwards to me - how is the financially poor option the only option that can work for poorer people?
Surely if they can 'manage' to spend £50 a month with a catalogue they could just as easily spend it at their local Primark/Matalan/TK Maxx every so often instead when they actually need some clothes?
I honestly can't fathom a situation where that is the only manageable option and is superior to just spending the money when you actually need some clothes.
See that just seems completely backwards to me - how is the financially poor option the only option that can work for poorer people?
Surely if they can 'manage' to spend £50 a month with a catalogue they could just as easily spend it at their local Primark/Matalan/TK Maxx every so often instead when they actually need some clothes?
I honestly can't fathom a situation where that is the only manageable option and is superior to just spending the money when you actually need some clothes.
Ok. First of all the best way for everybody is to save rather than borrow.
The reason why it's easier for poor people in particular is because they have a low disposable income. If they have, for example, £100 a month to spend after they've covered rent, food, petrol, bills etc.. then that could go towards a credit card.
If they're the type of people who are in a poorly paid job then I'm afraid to say that they're the type of people who don't plan especially well, who aren't as prudent who would be unable to put the £100 in a biscuit tin and leave it until there was enough to buy the new TV.
That is of course a generalisation and not correct for everybody.
If you had a high income then you'd find it easier to whack it into savings and use the savings for a purchase. But if you've got 2 children, and struggle to make ends meet then credit can be a way to help you manage.
Online shops that do pay monthly services for computing, you're thinking of Amazon. http://aws.amazon.com/
Trolololol
