Does buy now pay later have you or someone you know in a cholehold? Are you for or against it? Also what percent is you phone 🔋 on? I'm on 83% it's 6:30 p.m. 😎
I remember talking to a customer who said she always used buy now pay later. I've used it a couple of times but it was for large purchases kinda outside my budget but vital. Like when my daughter broke my bed and I needed to get a new one lol. But usually if something is under $100 I pay it out of pocket.
@@vvitch-mist20 Yeah a lot of people love by now pay later options but for non necessities. And how did your daughter break your bed 😂 I'm sorry I just wasn't expecting that comment and curious
@@SocialSymone She used it as a slide, and jumping on it. It was actually something my grandmother had from the 60s, so it was already kinda falling apart. When you got kids you have all kinds of wild, yet also mundane stories lol.
I bought a pizza off Papa John’s a few years back, and they had a Buy now Pay later option. I was like, if you have to make payments on a pizza, you’re down horrendously 😂😂
When I was in my 20s I used to joke that I was thankful that I liked cheap beer, because PBR was always $2 a pint.... I was in massive credit card debt, and I realized each $2 beer was actually $10 a beer by the time I paid it off.... 😅
I had a coworker tell me she had to take a loan out to go on vacation and my jaw dropped. As if that alone isn't crazy, she didn't have PTO so she went on unpaid leave.
I used affirm to buy my peloton 5 years ago and paid it off in a year. I love it and still use it but for a $9 for a chipotle bowl is absolutely insane.
Yup, I did. I went to 6 flags and put it on a credit card and due to interest I was suddenly $4k in debt. Because interest was $100/month and I didn’t have much money, it took 3 years to pay off. Now, I’m completely debt free and buy everything outright. It was a good lesson learned.
@@privateaccount1998yeah they do, stop eating out, and stop using these apps as the amount the end up paying once it’s all said and done could’ve paid for a month’s worth of groceries, more than likely. Just because the economy and inflation is insane and life it tough doesn’t mean people have to give in and give up…that type of attitude takes may make a person feel better in the moment, but what it’s really doing is taking a away their power and ability to learn, make responsible decisions, and enjoy a better future. If it were easy, everyone would do it (budgeting and practicing self-discipline of not giving in to instant gratification when they cannot afford to) not worth having comes easy these days, financially speaking, but nothing is more important than having some sense of control and security, as much as one can. Of course, things that are out of our control happen all the time, so why not control the things that we can, because whether or not we choose to put fast food on a payment program sure as hell is one of them. Hope my mini book gave you some “food for thought” no pun intended.
I have a friend who travels the world. It’s truly inspiring. She asked me to attend one of these trips but I declined and explained that it’s not in my budget. She explained the afterpay option and explained she uses it for EVERYTHING! Travel, bills, etc! I’ve never asked her if she’s in debt (not my business) but I can only imagine 😢
She's in debt...question is how deep in debt she is. This also a millennial problem since all of my guy friends have confided to me how in debt they are (gotta so those big trips monthly after all 🙄
@@GothicBookLoverif getting in debt keep social circles and relationships strong, it's 100% worth it. There's a lot of old well off people with no friends because you can't buy that when you're old and wrinkly.
I always use buy now / pay later for bigger purchases over $200 ,but i always end up paying it off before the due date . Sometimes im in between check and need something or sometimes i want to secure a specific ticket or spot or hotel etc .The key is to never spend nore than your comfortably able to pay back. Also i usually have the money saved up ,but the last bit seems to always be due liej a day before my check comes in.So i buy now and pay later and when i get paid, i pay it off. Also ,helps me build credit cause, i had none paying in cash all the time.
U can't afford what your buying and the proof is not having all the money at the time you want/need it - doesn't matter if the last payment is the day b4 ur cheque comes in (or whatever u said). YOU CANT AFFORD IT!!!! Oh and get an emergency fund
To answer your question about where “girl math” came from, it started off as a joke among women to emphasize the complicated math they did to budget long term. Like originally it meant how GOOD women were at math. But then subtleties of it quickly got lost and it became a sexist joke about how bad women were at math, told by women.
Personal Finance should be a pre-requisite for a high school diploma in all 50 states!!! At my high school, our Personal Finance class was an alternative senior math credit for those who weren't taking Algebra II or AP Calc. I took it and my AP friends made fun of me for taking the "slacker's math class". Well guess what, I graduated college debt free, became an accountant, and am saving more money than I ever thought possible. Most of the people who didn't take the class are in crippling debt and don't understand credit. That class was fundamental in my life and my state should be ashamed that they haven't made it mandatory. This is how America stays in debt.
I agree 1000% One of my most helpful classes I took in high school was in economics class and it was an elective during my senior year. This class was the most influential in my opinion. I remember what my economics teacher was teaching us about credit cards and debt cd's, interest rates etc. There were a lot of people in the class that were not paying attention but she would stress how you can really mess up your life as an adult with debt. That class for sure should have been mandatory. I truly believe these classes are not because it pays for people not to know. ( Certain businesses and economies thrive off of the lack of knowledge of the people) Sidenote note I am glad that you actually Paid attention and your life is a reflection of that. 💕💕💕
I agree!! In MO I took a semester of PF. That included balancing a check book and avoiding high interest rates on CCs. Sure wish they would have explained actual personal finances. Like how car loans and mortgages worked. They should teach all teenagers how to invest too. Why isn’t that a thing?
But then if that was a requirement these companies wouldn't make any money would they? So why reinforce something positive for the consumers, when they know they will lose lots more? I'm not saying its right for them to not do this... Im just saying its definitely unlikely they would as the loss would be too big for them. They're a business after all.
Literally! I feel like they don’t realize it’s not only harmful but sexist too. Why are we saying something that makes no logical sense and has to usually do with shopping dumb shit automatically is a girl thing. Also it implies general good math is for men ugh Idk maybe I am looking too deep into it
i haven’t used these services as i’m hesitant of them but occasional use that you pay off in time so you don’t accrue any interest or at least very much interest, seems fine. but the idea that everything can be paid for in this imaginary land of “later” can be really appealing and drag people into bad debt.
My piano is in disrepair so I had to set up a keyboard to practice, but there isn’t enough light where the keyboard sits to see the music very well. I’m thinking of buying a lamp and putting it on Afterpay because, well, I kind of need to see what I’m doing. I think that financing was originally used for this very thing - appliances and furniture that one needed.
School books can be bought used and borrowed. When I was in school, I never bought a new book. They charged $200 for a psychology book. I found it used for $40. Even if the edition is different, the book is still viable.
I use Afterpay RESPONSIBLY. I don't do multiple orders at once and I make sure things are completely paid off before starting other ones, and don't do it often.
I just moved into a new apartment, and everybody is tryna tell me to go to a rent a center for furniture. I do not want more debt, and I read that it's a horrible financial decision. I'm gonna just save and buy when I have money.
Renting furniture?! Oh god 😂 I agree just save up, id rather live with a desk and a matress on the floor as long as I have a functioning bathroom and kitchen then rent furniture..
Side note: this "girl math" excuse is embarrassing. It just means you want to pretend that you don't know that you're overspending, when you clearly do. It also plays into the stereotype that "women aren't good with money" - ugh!
I'm tired of it 😂 Also the phrase "the girlies that get it, get it" is annoying to me too. It just one of those mean girl phrases to me... Maybe it's just me, but people are free to say what they want..
It truly makes me CRINGE. Yet it is spread widely, especially among younger demographic. In a way, I see it as a complimentary part to 'that girl'/main character aesthetic package, with extreme lack of self-awareness. I have Gen Z sister, myself I'm a millenial, we are coming from poverty, yet we couldn't be more different now when it comes to spending. She could be easily considered as 'high maintenance': never/rarely using public transport, cannot cook (always on takeout), multiple closets with clothes, accessories, makeup and skincare on more high end level while me, one who earns more, is mostly saving. Saving for the future, saving to travel. And don't get me wrong - although I'm not as pretty as her, I like to shop, shoes in particular, but if I want something, I do overtime to afford it.
Yeah, it’s the same thing when people say “colored people time” and expect me to agree with them. Don’t denigrate the entire group to make yourself feel better.
Girl math was SUPPOSED to be women explaining LOGICALLY why what seems like a bad decision is actually a good decision. A “What Would Elle Woods Do?” Fun nod at girls culture (One dress is half off that means if I buy two dresses then I’ve only bought one dress…regular math) Like feminism in general the plot was lost along the way
I am a woman. I am good with math. I wish these adults would stop giving us women a bad rep for not being able to do math because some women chose not to be responsible.
Agreed. I am in charge of my household finances and a lot of women are. I don’t know why people think it’s a trend that women are bad with money. A lot of women manage the finances for their families. I am financially literate
Women tend to over pay on stuff they dont need. Women were buying the $50 Stanley cup because tik tok told them. Maybe the question we need to ask is why do women prioritize keeping up with consumerism and fall for every marketing campaign. Men generally arent spending $1000 on skin creams.
IN DEFENSE OF GIRL MATH it was supposed to be a “What would Elle Woods Do?” Kind of fun nod to girl culture where we like nice things but are smart enough to budget for it. “This dress is half off so if I buy four then I’ve only paid for two.” Ya know, real math. We definitely lost the plot along the way so it’s necessary to keep shaming these poor financial decisions, hopefully people will wake up sooner than later. Thank you for bringing these issues to our attention.
Elle Woods is a fictional character. Why is anyone trying to live real life based on a fictional character? People are brain-dead and deserve to be in debt.
I literally had this conversation with my mom who is already in debt. She doesn’t understand that regardless if you pay it in full you’ve already accumulated so much interest you could’ve gotten two more rounds of groceries…it’s really hard to explain this sort of thing is not just free handouts…
There are really good TH-cam videos that explain interest and how it accumulates!! It may help to sit her down and show her one of those videos. I can understand the math all day long but it’s REALLY hard to explain it to someone else in a way that sticks for them.
I like how you said it isn’t helpful to people if they aren’t responsible. That’s the key component: Responsibility. I’ve used affirm for a few things and it has helped a lot. But like you said people think they can buy whatever and however much they want . It’s just like credit cards. People get roped in and then end up with massive debt because they can’t afford it. Great video!
Buy now pay later is useful but you need to exercise SELF CONTROL with it! Here in the UK whenever I've used it, they send a reminder before the instalment is due, and even if you miss it, you can pay it manually the same day or the next day with no extra charge. You can also pay off early if you like. But if you default, the consequences can be disastrous. How do you order things without adding up when and how much you need to pay? And why blame the companies for your lack of self control?
People don’t have to money to buy the crap to begin with over here. So when the payment comes due they still don’t have the money. More people need to go cash! Cash budget to get back on track.
I don’t entirely blame the companies, but please realize that everyone is on a different journey. Be happy you weren’t born with bipolar disorder, ADHD, or any psychological conditions from your upbringing. Life can be hard.
@@kemikunle9360RT on the adhd. Got diagnosed as an adult and now I have better control over my finances now, though it's still tough bc that's where the impulsivity comes in
@@kemikunle9360 I have childhood trauma from growing up in poverty, and from emotional abuse and neglect. And in my 20s when I got a credit card I overspent and racked up debt. I did it because I got a sense of control from finally being able to wear clothes I LIKED (before then, I was forced to wear clothes I hated). I spent a long time in therapy to get myself healthier and my finances back on track - it took YEARS. I could have continued in that cycle without taking responsibility but I decided not to. I have worked with and studied neurodivergent people, so I understand that this is a difficult thing to control for them. But not everyone in debt has bipolar or ADHD! The girl in the video was quoting "girl math" while calling herself a "bad girl" for spending - she KNEW she was overspending. At some point we need to cut the crap and be honest with ourselves. I'm not perfect at finances, I'm still getting my sh*t together. And if someone has a developmental or mental health issue, I empathise. But let's not pretend that some people aren't out here wilfully racking up debt just because they don't want to be responsible.
…as someone who uses after pay and Klarna all the time I’ve never had any issues. 😂 I never missed a payment though and I have a high credit score so I do well with paying things back. I just love it but I tend to make large purchases but I be paying it off in the 4 payments with no issues. If your smart you can def use it in your favor 😂.especially with how hard it is to survive out here 😅 BUT this is not for everyone. If you have no real plan to pay it back you are PLAYING YOURSELF. This is a great message for people to hear.
But are you able to pursue other personal finance goals that contribute to stability? Emergency fund. Retirement. Leisure travel debt free. Paying off debt. BNPL enables mindless consumption
Me too!!! Sometimes I just don’t want to buy anything out right even if I have the money. I always use my debit card on 4 pay. Never credit cards. It’s the same amount anyway, just divided by 4 every 2 weeks.
I use them all at times but for Christmas, I use Affirm ( Monthly payments).. I went hard.. I got the family a new PS5, new Xbox for each room ( We're heavy gamers), new cellphones, & laptops.. It was a 12 month payment plan all one bill.. I pay double each month so Im pretty much halfway done... I told them , dont expect much this Christmas 2024...😅😅😅I'm taking a breather😅😅... Yesss- they do definitely come in handy for certain purchases.. To be perfectly honesty, I think is nobody's business. Thats your household. You use it & pay it back ..Then again - if you're not responsible, it could hurt you like a credit card..I'm gonna use them when & how I want & keep it moving.. 😉😊
It reminds me of the early 2000’s when I graduated high school and credit card companies were handing out cards to everybody. I messed my credit up early in life. This is the same thing.
I actually signed up for a discover card my freshman year of college and used it to build my credit - I made sure not to use it for dumb stuff and 20+ years later I've got a great credit score.
I was lucky that I got to learn from my parents. My mom told me to never get a credit card and if I did always pay it off immediately. I did that and my credit skyrocketed. It’s sad because my mom told me her credit has never been as high as mine. 😢😢😢
There is a saying, “there is no such thing as a free lunch”. It means that someone will always end up paying. It could be you or someone else. And it is unlikely that someone else would want to pay for your lunch.
this is why you use pay later options that DO not add interest. Interest is not your friend when buying things, especially when you can’t really afford it.
My family wanted to take a cruise. It was our first vacation together. I didn't want to go because I didn't want to spend all my savings. My sister talked me into Uplift. It was the worst decision. I had to spend all my savings and get a loan to go. I didn't even enjoy myself and was stuck for months paying off that loan. Don't do it!
So sorry you did that. Most cruise companies and companies in general have it where you can make normal payments on your trip. Just book in advance and the vacation becomes part of your monthly bills until it’s paid off. I don’t offer any of those services to my clients. I just set them up with a normal payment plan.
It seems like the issue was more with the cruise than it was with uplift. Unless ur saying that paying for the cruise up front would have made it more enjoyable?
@@Tkara8 no the issue was I didn't have the money to pay for a flight, hotel, transportation and the cruise, which is why I didn't want to go. I was then struggling to pay off Uplift for months after because I couldn't afford it. I've been on several cruises that I paid cash upfront. That particular year was a financial struggle and I had no business going on vacation.
I don’t even recommend that. With Carnival which I know you can pay them until you’re due date. Hell, I didn’t even know you can use Klarna with carnival.
My general rule: If you don't have the money, right out to buy something, don't buy it! I purchase everything by cash/debit. I never put anything on credit payments, including furniture and appliances. I save and buy it straight out. If I don't have the money, I do without. I don't even use a credit card. The only 2 things that I finance is my house and my car....nothing else. Oh, and my son's parent/student college loan, that's it.
Agreed - I have never financed anything. If I can't afford it, I don't get it. The only purchase I would consider financing is a house, and even then I am trying to amass a large down payment with the plan to pay off the house fast. I am sure you can agree that life is less stressful when you don't owe anybody anything!
I got my crown on credit and it’s all paid off, no interest because I made the monthly payments on time! Now I have private insurance and it pays for those procedures!
Just paid my last $62 I am committed to keeping my money to myself. It is very useful. I have to say its so convenient to have this, but I noticed that it’s taking up a lot of my money that I could be saving
Just wanted to thank you simone for all your doing. I have a severe spending addiction. While I was getting ready to shop I clicked one of your videos. I stopped heard you and was shaken to my core! Immediately knew I didnt need any of the things I was trying to convince myself I needed. So I went to the park instead.🖤🦋
I feel so blessed that I was able to help you in this way. We all are battling something and sometimes we just need Something to reel is back in. 💕💕💕 I love to be a nature also it is very relaxing and free! Some things in life may be a everyday battle but as long as you put in the effort everyday I think you will be better than the day before. I wish you well on your financial journey and in life. YOU GOT THIS!
currently on a plan like this to pay off a 6-month language course, don't regret it at all its totally worth it but its Stressing meeee. a single thing first time in my life. how on earth ppl live like this constantly. still baffled that its SO common HOW
buy now pay later is so great for when it comes to presents and such, I recently used it because I forgot someone's birthday and the gift didn't fit in my budget but when I got paid it would. gift was 25 euros and i paid it back a week later. but i really used to rely heavily on after pay and I'm happy to say I don't anymore. only for important reasons and those are only a few exceptions, otherwise always pay straight!! i feel like people aren't learning to be responsible w their money anymore!!
I used afterpay when I moved to Wisconsin from Colorado and had been warned about the long winters. I got a treadmill (after reading a million reviews and getting one for tall people, also had a coupon), a workout bench, and mats to protect the floor from them. It was around $425 and I paid it off in 4 months. And that purchase SAVED ME over my first and every 8 month Wisconsin Winter since.
I used affirm when I needed to buy a computer for my first hybrid job. I didn’t have a computer and needed it for work since that was basically my job (working on the computer). Because that was an investment I paid it off in six months and never used affirm again lol.
I am glad that you used it and paid it off on time. I think it is not bad for the people who use it appropriately like you did. 💕💕💕 But unfortunately, there is a large amount of people who use this, and do not have a proper plan of paying off this debt, and then they end up drowning in it.
@@SocialSymone since life isn't predictable, I still think it is scary to buy something which you can't pay straight away, that instantly loses value once bought
@@lashunburton657there’s nothing “inherently” wrong about it, but it has some major negatives in that it helps people make harmful decisions. It’s like heroin - yes it can be used responsibly by a select few, but the vast majority cannot engage with it in a healthy way
It's really upsetting how deeply accepted debt is in American culture. My friend's husband recently got a low six-figure payout from a work injury, which included their $30k credit card debt being consolidated and paid off and his first thought was to open several credit cards to "fix their credit scores" because the year they spent missing payments and barely scraping by tanked their scores. My friend is tired of drowning in debt, but her husband just sees it as another vehicle for the lifestyle he wants. I'm the only person around her who agrees that her husband's thinking is dangerous and could land them in a worse financial position than they were previously in. It's frightening.
Her husband probably thinks that finances are a game, like you get credit card points as a score for being smart enough to ‘trick’ the system. I really hope she’s able to get away and protect her finances from her husband!
I only used one of these once, klarna, to pay for $100 bill. This was when they were first starting to pop up. I had the money in my account and was shopping for clothes online, but saw the option and it was 0% interest so I was like “eh why not lets see.” I wouldve been about $10 over my budget on the purchase so I thought ooh this will help me not be overbudget technically and I can budget for the payments in the next few weeks. When I tell you that seeing the $25 payment every two weeks pissed me OFF so much 😭 like why am I STILL paying for clothes I already got and am wearing. Never again
I never use Klarna excessively. There was a time I was broke asf but still wanted nice things so I’d use Klarna to take smaller portions out of each check and then pay in off early. Obv don’t buy stuff you can’t afford but I technically could afford it Just in pay increments. I never treated it like it was free money I treated as money coming out of my check little by little and I took it seriously.
That's exactly why I never used it! When it first popped up I was buying something expensive, my dining table I think. Afterpay appeared as an option and I considered it since I hate spending large amounts, but when I imagined what it would be like to still be paying chunks off a table I already had and which was probably already dinged up a couple months laters, I got pissed off. Yeah it softens the blow....by adding more blows! It's probably worth it if you have have a genuine need.
@@Ishouldnthavebeensopublic I don't see how it could be any other way 😭 like the app clearly tells you that you have to make payments. Are people ignoring this part & just not paying?? Like???? I ALWAYS round my payments up to the nearest $10 and my total gets paid off early, so even if interest does accrue, it's not as much.
I've been watching your videos A LOT (getting ready, eat, doing my make up). Girl, please keep them coming. I'm not in the bad financial situation based on my judgement (Iol but I don't have good amount saving), but my issue is online shopping habit. Your videos keep me humble, thank you!
I have a rule that I try to abide with when shopping for everyday products: If I can't afford to pay it in full at that moment, then I'm not buying it. I don't like to deny myself from something fun every once in a while but a lot of people nowadays don't know how to place boundaries with themselves and prioritize what they want vs what they need. I totally agree with you, these services are not our friends! Going into debt over a Sephora Haul or a Chipotle Bowl is insane to me😱and don't even get me started on how these services are leading to so much overconsumption and the immense harm it is causing on the environment 😭
It’s all a mind game. People like payments because it fogs your perception of affordability, which then will cause you to overspend 90% of the time. Most people who only would spend $1,000 cash on a couch will spend $2,000 on one if they can finance it because the payments hurt less. Corporations are aware of this. This is why they don’t mind offering you 0 interest…it’s all a mind game and corporations are winning.
Unfortunately, this is a sad reality that many people don't realize. Interest hurts so much and people don't realize it until they check the math. For example, if you're paying $25 every month on your credit card bill that is $1,000, it looks like you'll pay it off in 40 months. However, after looking at your statement, you'll see the APR (the interest rate) be added AFTER you pay your monthly bill, which was $20. So, you're actually only paying $5 off of your credit card bill each month. Making it so you will pay off the credit card bill in 200 months.
Yup! Dave Ramsey has a saying when it comes to purchasing, "Wealthy ppl ask how much it costs, poor ppl ask how much are the payments." This forever shaped how I think about whether I can actually afford something.
Once you start investing and understand the concept of compound interest you realise spending money frivolously on loans makes you the sucker that is keeping rich people wealthy. Girl math and you're 32🙄
I grew up with my parents being very frugal, so when I started making money I started spending it as soon as it hit my account on pay day. I think I was overcompensating for feeling like I didn’t have enough growing up when in reality I was always well provided for. I always had fresh food on the table, nice clothes and toys! When I became unemployed during the pandemic I started to re-evaluate my spending habits. Now that I have a new job and a newfound appreciation for financial stability I’ve become ruthless when it comes to budgeting. I watch your videos to remind myself of the importance of staying on track. It’s important to protect your future! I’m glad after pay only became a thing after my change in mindset, if it had been around beforehand I can totally see myself using it then to my hearts content, which is sad. Symone! I love these reaction-type videos as much as your commentary ones! Could you please do more of these?
I used to use the BNPL like crazy. There was a point where I had $300 in payments every payday. I stopped cold turkey a few months and I have saved so much money. I will never use it again.
Have they not heard of not buying what they can’t afford? It’s like they want instant gratification without the means. 😭 Might as well have overdraft fees with the bank instead.
I just have to say, it feels amazing to be 30 and out of ALL debt. I cash budget to stay on track now. Seriously, I took my kids school shopping at Kohls and when that lady told me my total was $600 I handed it to her and that was that. I used to feel sick when I’d slide the card and have a huge balance over my head. I don’t know why people continue to put themselves in debt pain for random things. CASH budgeting is where it’s at.
@@privateaccount1998it’s when you budget what you’ll need for the next 2 weeks/month, then take all those individual categories in cash (ex: $200 for groceries, $100 for gas, etc). Then you carry that cash and only spend when you have money in that category. If youre out of money for the clothing or shopping category, you cannot buy whatever you were going to buy until the next paycheck. You cant take out from another category to cover it.
@@privateaccount1998 just like what it sounds. You only pay for everything that you possibly can with cash. Check out envelope stuffing, there are literally TONS of videos on TH-cam about it. It's a good way to keep yourself out of debt and to see exactly where you are blowing money that you don't need to be.
I feel like girl math started like a silly thing like “oh if is cash is free 🤪”, but know I’m embarres by it, now it’s just a sadly excuse to be impulsive
I was at a hotel desk a few years ago and a person asked if they could pay for their room using Afterpay 😭 the way the receptionists looked at him before explaining he needed to put a card down
I think people who have fluctuating incomes are more vulnerable to these types of things because it becomes easy to assume that maybe you’ll be able to make more money in future weeks/months than you had been making around the time of the purchase. And it’s definitely easier to budget in general when you know how much money will be coming in.
Buy now pay later is like a credit card. If you're a credit card person, you'll probably be fine. But if you struggle to pay off your entire cc, don't get into bnpl. It'll be the death of your finances. Great educational video, thank you ❤️
@@DarneIITV fr like I’m over here debating if I should get $2 dollar snacks, meanwhile people 5 years my Junior taking out 10k credit loans with a part time job. Crazy stuff lol
Must be nice lol, I’m 28 and student loan debt is killing me. And I’ve had a lot of people our age suggest these to me but I already have credit card debt (necessities) and I’m very hesitant to get more. I recently made a large purchase (large for me) and did split it up using my PayPal but it’s auto charged for only four months, and I have the money in my account. A lot of folks using these options are using it because they DONT have the money and act as if it will magically show up later. But it won’t cuz they keep spending.
The woman using “girl math” as an excuse enfuriates me. By simply putting some of my income into savings each month and not buying things I don’t currently have cash for, I have zero debt, an ample savings account, growing investments, and have even been able to purchase my own small home in my 30s. And shockingly…. I’m a girl 🙄🙃 And “they don’t teach financial literacy” in school is also no longer an excuse either - we live in the information age! You can literally watch free “personal finance 101” content on TH-cam and TikTok, the same way these people watch consumerist influencer crap that makes them want to buy things they don’t need. If you’re online anyway, go watch something smart and take some accountability for your behavior.
You bring up an excellent point. My sister-in-law is one of these people who wants to blame everyone else for her financial illiteracy. "I wish dad had taught us more." It's an excuse, it's lazy and there is no reason you cannot educate yourself on finance, there are TONS of tools out there. I taught myself photography before the internet ever existed simply by reading everything I could get my hands on. I'm tired of the whining.
You make a good point about cruises. If you cannot pay in full when you book, you'll pay more if you buy now/pay later. Everyone deserves a vacation but we have to be strategic about it.
When you book a cruise, you only have to pay the deposit up front. You have until the final payment date, which is typically 90 days before the cruise leaves, to pay off the full amount. You can set up regular payments towards your cruise. That's why using afterpay makes 0 sense to me
I always buy my flights, hotels, and cruises using BNPL because my credit is excellent, and my interest rate is always 0%. My daughter and I moved out of the US two years ago and it has helped us pay for travel to 7 countries interest and debt free by making payments instead of paying all at once. ❤
My husband and I use afterpay all the time for vacations/business trips. However we book our tickets months in advance. So by the time vacation is here our afterpay is already paid off. But we budget our afterpay into our travel savings. I think it’s very important that if you don’t have a good relationship with money. I will suggest you don’t use them. However if you want to use these type of payments make sure you budget it into your plan. Never have more than one payment active. Smart Spending Guys much love.💕
YES!! Nowadays, it's all backwards - get it now and pay it off later. I feel like layaway was better. Is the massive popularity of BNPL because of people wanting instant gratification? My goodness, just exercise a modicum of patience. Or, just put the item into the shopping cart, and give yourself a 72 hour cooling-off period (usually it doesn't seem as exciting after 3 days). Sometimes websites will even send you a coupon if they notice you left something in your cart, so if you decide to go ahead and buy it, you'll get a bit of a discount.
Noooooo lol as a kid my mom would have my sibling and I shop. When it was time to get it she wouldn’t pick it up or we would pick like a few items from it. Now Christmas time was guaranteed layaway pickups. Kmart and marshalls 😂😅
THIS!! I watch Caleb Hammer and the amount of people being like “I had to put the groceries on the card because I didn’t have enough money, I need food!” Then half their checking account is just bs subscriptions and going out to eat and shopping
This reminds me of a worse version of the 0% interest options I was forced to push working retail. I stressed to everyone what the interest would look like if they didn't pay it all in the time frame and I broke down the monthly payments for them. It wasn't required for me to do that, I just had some regulars and young people that I knew would have a hard time if that 29% interest kicked it. Even helped a dad set up a budget so he could buy parts of his big xmas gift for his kids over time. Did I ever hit my credit card quota? No. But I felt better knowing people understood what they could be getting into. And I had hella loyal customers who followed me when I transferred to another location.
Great video!! I was using the afterpay, Klarna, HSN, QVC flex pay at one point. I had to stop when I realized that those monthly and biweekly payments really add up. I paid off what I owed and don't do it anymore. I set up sinking funds (savings buckets/accounts) for things I want and once I have the money saved I go and buy what I want.
I mourn for our generation. So many unhappy young people drowning themselves in consumerism and debt for NOTHING. I at least have some sympathy for traveling or experiences 🤦♀️ but in debt for makeup? Smh
Hell yeah you mentioned Ross..my favorite place. I go inside expensive shops, snap pics of the nice clothes and then go on eBay and Ross and find the equivalent for a fraction of the cost
I use one credit card for things like a new phone after 5 years, dentistry and car repairs. All paid before the interest free period ends. A life saver
When the ps5 came out i had a friend who got one pretty early and told me he bought it with a "rent to own" plan. I told him that was dumb and by the time the console was officially his he probably payed out 1100-1200 bucks for the damn thing. Worst part is i cant even say with certainty that he learned his lesson. I wouldn't be surprised if he's in a similar position as a lot of these other people.
This is so odd to me, cause any business or economic class you take uses the rule: "if you can't buy it twice, don't buy it once", and this makes me realize at least one class for managing money should be required in school
Idk where u received your education. But im in the US and never had any such classes nor did i learn any from my parents. For some people this isn't known information especially young people.
I’m so happy you made this video. Penny Lee CEO of Financial Technology Association an organization that represents these BNPL companies went on CBS/CNPC and said LOUD AND WRONG that people aren’t in debt using BNPL! The issue is it those companies aren’t required to reported to the credit agencies like credit cards are so it’s a massive black hole regarding consumer debt. Either they don’t report or they don’t report their money to the feds I can’t remember which. They are fighting against it because they KNOW the consumer debt for BNPL is insanely high. It’s like as bad as a payday loan.
In 2018 I had my first manic episode and let me tell you...the next 5 years I spent a lot of money I didn't/don't have. In the beginning of last year I realized what I've done and I'm dealing with a lot of anxiety thanks to my debt.
Like credit cards, BNPL loans can be used responsible BUT adding another debt to your monthly budget will reduce your flexibility in the case of emergencies. Paying the full amount is always the best option.
It worse then credit card cause there are no comsumer protections, you cannot negotiate to lessen you debt with those. And the interest rate are insane. Buy now pay later is for people that dont used the credit card or have max out their credit card .
I buy most of my large purchases on credit cards but I always pay it in full each month. There are a lot of benefits when you use credit cards responsibly.
And with the right card you get cash back! My card will let me split up larger purchases at 0% interest but I won't get the cash back perk on it. So I save, shop, pay my card. In full. Every month. Interest will eat away at any progress you try to make otherwise.
I might get some heat for this but a 0% credit card for 12-22 months would be better for some. After the 12 -22 months you get charged that interest. Just pay the card off before the 0% interest period ends.
You say “just pay it off” like that’s it but you’re missing the most important step - you have to be saving that money along the way. If you put 10 grand on a 0% interest card and you don’t have 10 grand sitting in the bank by the end of it, you’re F’d. That’s why the vast majority of the general public should stay away, they can’t handle it
It saved my skin in grad school when I needed a new computer. $110 every month for close to a year is a lot more manageable than $1200 up front! Closed the card right after.
I highly doubt these people have the option to get a 0% credit card. They seem to be financially irresponsible and I doubt they would even pay the credit card off in the time allotted.
I believe there are no more "pay later" options through Apple pay because they were losing money. I think that for some who grew up always being told "no" or "we can't afford that", we feel like we really need the stuff we want. So we end up buying a bunch of unnecessary stuff to fill that void we had as children. Unless we wake up and realize that the stuff doesn't actually make us happy and the financial stress is way worse than not having stuff, we just stay in the cycle.
I’m watching this because it showed up on my feed, and the fact i’ve never heard of Klarna or any of these accounts before this video makes me feel so much better about my finances (esp post grad school) 😅
About 2-3 years ago. People joked about financing their groceries and gas. Here we are today 😂😂😂 People actually doing it. I’m scared for all impulsive buyers. I had to stop buying things through those payment options. It can trick you into thinking that you can afford it. Escape while you can! Buy your needs and not wants
I’m a new subscriber and been watching a lot of your content lately. I like your sense of humor, the fact that you’re not overly loud, and logical but respectful. Just thought I’d leave a comment! 😊
But also, it’s not like you pay the exact price of the product. There’s interest attached as well. So something worth 100$ becomes 125$ and more the longer it takes you to pay it off
I have used it when my tv broke and got a great deal. We paid it off on payday. I have used it on furniture too but I pay more than what is due. I have used it irresponsibly before. No lie. It’s nice to listen to someone speaking facts. Sent your videos to my children. If they won’t listen to me maybe they will listen to you lol!
I think it’s ok for furniture and household appliances when you have a plan to pay it off. I kind of need a lamp because it’s too dark in my living room to read and I’m thinking of using Afterpay to get it.
1) There is nothing wrong with using after pay for high ticket NECESSITIES like furniture ASSUMING YOU ARE A FISCALLY RESPONSIBLE PERSON. Therefore, you shouldn't be buying clothes, make up or take out with afterpay - that's stupid. And anything you buy with afterpay you should already know if you will have the monthly payment amount in your budget to make the payments and it shouldn't be for more than a year. If that's not the case DON'T DO IT! 2. If you use afterpay etc, you don't owe walmart or whatever retailer - afterpay, pay them right away on your behalf. You now owe afterpay etc. 3. Girl math is just an excuse to use your gender as the reason you're fiscally irresponsible. Let's stop that, it's not cute.
I use buy now, pay later but in a controlled way. I definitely don't let myself go crazy with it. I mainly use it on things I or my daughter needs that can't wait.
I truly only use mines for emergencies. I paid off two and have one more to go. Once I paid them off I leave them in a safe box and uninstall them from my Apple wallet because in my twenties, that credit card debt had me in a chokehold. 😂
I just treat it as a more secure debit card. It's much easier to dispute transactions if your card is stolen. So I pay most of everything with it but I also don't frivolously buy things, usually it's food (grocery and eating out), gas, essentials, and the occasional hobby like reading or games
@@xenonsan3110some credit cards off great cash back programs. The Apple Card with the Apple savings as a great cash back program as well as an APY of 4.5%. That’s the only one I use and have paid off 80% of.
I just got a credit card @21 not to spend irresponsibly but to learn to spend responsibly! I was so scared to get one just because of all the horror stories that come with them but I trust myself not to be dumb and have been very strict on myself this year! I hope everything I work for come back and not in after pay installments 😂
First of all I love your hair. It's so good seeing someone not pack so much gel and spray into their hair to make it look "presentable". It's so refreshing to see someone just let their hair be. Your hair looks AMAZING in every single one of your videos. Secondly(well lastly😂) your videos always crack me up likeeeeee. I can't even with you. You just speak your mind and it's amazing. Please keep uploading like you do❤
"girl math" is one of the most misogynistic things i've ever seen- it's really them saying "haha women aren't financially responsible, delusional, and stupid!!" like i don't know abt yall but NOT ME and never will be me ... shouldn't be ANY woman and has nothing to do with our sex
@@JB-tz8fuso???? That doesn't mean it's not misogynistic... women can be super misogynistic too. Sounds like you get defensive and sensitive when you hear the word "misogyny".
@@chikipichi5280 It's internalized misogyny, one of the greatest defenses of a system of oppression is to have the repressed believe the myths of their subjugation
Been there done that (unfortunately) I had so many affirm bnpl loans back in 2017. I paid them all off and never opened another one. No credit card debt, no car payments!
I love Klarna as a way of protecting bank card info when buying online. Also gives me the option to pay after receiving my goods so I can check everything is fine and as it should be before paying. Way easier to start a dispute with seller that way. No way in hell I'm splitting payments up for monthly or letting it pass the 30 days... I only spend what i actually have at the moment and can afford. In my language debt is called "skuld" which is the same word for guilt. It's best to avoid debt as the plague, don't make yourself guilty.
I dont mind the buy now pay later method as I used it a few times and its been helpful! I can afford to buy it full price but the payments allow me to double and triple up my money while i pay it off! Also in a weird way it allows me to keep within my budget so its helpful for me! Before anyone says anything, I do automatic payments as I use Shop Pay and i have no debt from it so i am reasonable when it comes to buy now, pay later!
I thought afterpay and such was only supposed to be used occasionally… you still have to pay it BACK PEOPLE it’s literally in the saying “buy now pay later”
Actually, the pay later option is useful if you buy clothes and/or shoes online - let's say you want to buy a specific article (I'm talking about a necessary purchase), but you are not sure which size or colour will look good / be right for you. AND you have limited budget and time. Even if there's a return and refund policy, you still have to fork over a lot of money before you eventually get a refund for anything you return. So, you take all of the available options from a shop with free return policy, select the pay later option and wait for the delivery. You will have sufficient time to try everything after arrival and decide which one you really want. Keep only the one thing that fits, and return the rest. The postponed payment is cancelled automatically then. This is how people in my country use it and it really makes sense, I've done it myself many times and it helps me to make better decisions with my purchases. After you return the unwanted things, there is usually an option to pay for the stuff you keep right away.
I really work hard to engage myself in someway of earning more income. My family are happy once again and can now afford anything for my family even with my Retirement.$67k weekly returns has been life changing, after so much struggles.
my mum set into me deep as a kid that if i can’t afford anything i.n FULL 3 times over without it hurting what i usually buy then it’s a bad choice to buy it right now. it’s what’s kept me from ever using these pay later stuff or paying what i can barely afford.
This just showed me how proud of myself I am. I use these buy now pay later options pretty often but only if it’s it’s something I REALLY want (been thinking about it for months or keep noticing its absence in my life), or need. Like you said in the beginning, but responsible and know your finances! Debt doesn’t have to always be bad, especially if you’re not pulling from high yield savings accounts in HUGE chunks. Let it be an investment you’re ready to circulate your money on though!
Sharing this with all my friends because a lot of us fell into the trap! I wasted soooooooo much money on the apps and I’m fixing it now ❤please don’t buy something you don’t need on it
Does buy now pay later have you or someone you know in a cholehold? Are you for or against it? Also what percent is you phone 🔋 on? I'm on 83% it's 6:30 p.m. 😎
I remember talking to a customer who said she always used buy now pay later.
I've used it a couple of times but it was for large purchases kinda outside my budget but vital. Like when my daughter broke my bed and I needed to get a new one lol.
But usually if something is under $100 I pay it out of pocket.
Good on you not being on your phone all day, that’s impressive!
@@vvitch-mist20 Yeah a lot of people love by now pay later options but for non necessities. And how did your daughter break your bed 😂 I'm sorry I just wasn't expecting that comment and curious
@@SocialSymone
She used it as a slide, and jumping on it. It was actually something my grandmother had from the 60s, so it was already kinda falling apart. When you got kids you have all kinds of wild, yet also mundane stories lol.
Im on 84%
I remember the days when these pay later programs were for ovens, fridges and big purchases. We definitely lost the plot 😭
I do, too!
Layaway
@@May-qb3vx that's all it is, but with loan sharks!💯
Yes! The only thing I saw on here that made sense was the walking pad
I mean until businesses stop charging an arm, leg, and first born for their products, we wouldn't need to use it.
I bought a pizza off Papa John’s a few years back, and they had a Buy now Pay later option. I was like, if you have to make payments on a pizza, you’re down horrendously 😂😂
😂😂😂
This made me laugh too hard 😂😂
Totally. Time for ramen.
How does that even happen
Sad fact is some people are down that bad
Their $9 chipotle bowl is gonna be an $86 chipotle bowl with all that interest 😂
When I was in my 20s I used to joke that I was thankful that I liked cheap beer, because PBR was always $2 a pint.... I was in massive credit card debt, and I realized each $2 beer was actually $10 a beer by the time I paid it off.... 😅
Part of the lure is there’s no interest. Until you’re late….then fees
As long as you make the payments on time there is no interest.
😂😂
Ahhh let them be. Let them learn the hard way.
I had a coworker tell me she had to take a loan out to go on vacation and my jaw dropped. As if that alone isn't crazy, she didn't have PTO so she went on unpaid leave.
I used affirm to buy my peloton 5 years ago and paid it off in a year. I love it and still use it but for a $9 for a chipotle bowl is absolutely insane.
Exactly, I did the same for my Peleton 3 years ago. And I still use it from time to time.
Same, except mine was with Sony WH-1000XM4 Bluetooth headphones!
And the fact that they have "buy now, pay later" options for food now is wild!!!!
People need to learn the hard lesson of delayed gratification
Absolutely
More like a budget!!😂😂
@@elenam9435 True that naturally comes with it
Yup, I did. I went to 6 flags and put it on a credit card and due to interest I was suddenly $4k in debt. Because interest was $100/month and I didn’t have much money, it took 3 years to pay off. Now, I’m completely debt free and buy everything outright. It was a good lesson learned.
@@4plywhenicryCredit cards are awful
If you can’t afford a chipotle burrito and you have to use KLARNA or AFTERPAY to buy your food is insane 💀😭😂
trueeee, the food is good but not enough to pay monthly for it like?!
That’s way too irresponsible!
A lot of people are literally struggling right now because everything is so expensive, I don’t think they have a choice at this point.
Chipotle is a choice 😂😂. Essential groceries are not. @@privateaccount1998
@@privateaccount1998yeah they do, stop eating out, and stop using these apps as the amount the end up paying once it’s all said and done could’ve paid for a month’s worth of groceries, more than likely. Just because the economy and inflation is insane and life it tough doesn’t mean people have to give in and give up…that type of attitude takes may make a person feel better in the moment, but what it’s really doing is taking a away their power and ability to learn, make responsible decisions, and enjoy a better future.
If it were easy, everyone would do it (budgeting and practicing self-discipline of not giving in to instant gratification when they cannot afford to) not worth having comes easy these days, financially speaking, but nothing is more important than having some sense of control and security, as much as one can.
Of course, things that are out of our control happen all the time, so why not control the things that we can, because whether or not we choose to put fast food on a payment program sure as hell is one of them.
Hope my mini book gave you some “food for thought” no pun intended.
I have a friend who travels the world. It’s truly inspiring. She asked me to attend one of these trips but I declined and explained that it’s not in my budget. She explained the afterpay option and explained she uses it for EVERYTHING! Travel, bills, etc! I’ve never asked her if she’s in debt (not my business) but I can only imagine 😢
Oh she's in debt big time 😂😂😂
@@delroy0 I just LOL reading your comment!
She IS 100% in debt. Dont doubt that for a second!!!! There’s no other reason why she’d be using it!! Be safe yall 😭😭😭😭
She's in debt...question is how deep in debt she is.
This also a millennial problem since all of my guy friends have confided to me how in debt they are (gotta so those big trips monthly after all 🙄
@@GothicBookLoverif getting in debt keep social circles and relationships strong, it's 100% worth it. There's a lot of old well off people with no friends because you can't buy that when you're old and wrinkly.
I always use buy now / pay later for bigger purchases over $200 ,but i always end up paying it off before the due date . Sometimes im in between check and need something or sometimes i want to secure a specific ticket or spot or hotel etc .The key is to never spend nore than your comfortably able to pay back. Also i usually have the money saved up ,but the last bit seems to always be due liej a day before my check comes in.So i buy now and pay later and when i get paid, i pay it off.
Also ,helps me build credit cause, i had none paying in cash all the time.
You need to get an emergency fund at least 3 months of living expenses though
It needs to be 0 percent apr. Also I would start an emergency
U can't afford what your buying and the proof is not having all the money at the time you want/need it - doesn't matter if the last payment is the day b4 ur cheque comes in (or whatever u said). YOU CANT AFFORD IT!!!! Oh and get an emergency fund
To answer your question about where “girl math” came from, it started off as a joke among women to emphasize the complicated math they did to budget long term. Like originally it meant how GOOD women were at math. But then subtleties of it quickly got lost and it became a sexist joke about how bad women were at math, told by women.
Girl math wasn't ever a good thing it was basically. Yes budgeting but a dragged out budget to justify bad purchases cause it just worked
@@jaym6126expensive doesn't mean bad. Girl math used to be quality items that were worth the money
it was excusing irresponsible and toxic behaviors and throwing "girl" on it.
@@jaym6126 budgets are supposed to be long term tho
@jamiejam9976 Yes, but it's not a budget it's a constant shift of bills. Shorting one or more to do other things.
Personal Finance should be a pre-requisite for a high school diploma in all 50 states!!! At my high school, our Personal Finance class was an alternative senior math credit for those who weren't taking Algebra II or AP Calc. I took it and my AP friends made fun of me for taking the "slacker's math class". Well guess what, I graduated college debt free, became an accountant, and am saving more money than I ever thought possible. Most of the people who didn't take the class are in crippling debt and don't understand credit. That class was fundamental in my life and my state should be ashamed that they haven't made it mandatory. This is how America stays in debt.
I agree 1000% One of my most helpful classes I took in high school was in economics class and it was an elective during my senior year. This class was the most influential in my opinion. I remember what my economics teacher was teaching us about credit cards and debt cd's, interest rates etc. There were a lot of people in the class that were not paying attention but she would stress how you can really mess up your life as an adult with debt. That class for sure should have been mandatory. I truly believe these classes are not because it pays for people not to know. ( Certain businesses and economies thrive off of the lack of knowledge of the people) Sidenote note I am glad that you actually Paid attention and your life is a reflection of that. 💕💕💕
I agree!! In MO I took a semester of PF.
That included balancing a check book and avoiding high interest rates on CCs.
Sure wish they would have explained actual personal finances. Like how car loans and mortgages worked.
They should teach all teenagers how to invest too. Why isn’t that a thing?
That's how corporate America gets their slav- I mean "loyal employees"
In countries like Finland there is a mandatory class like that
But then if that was a requirement these companies wouldn't make any money would they? So why reinforce something positive for the consumers, when they know they will lose lots more? I'm not saying its right for them to not do this... Im just saying its definitely unlikely they would as the loss would be too big for them. They're a business after all.
Girl math has to be one of the worst things women have bought into recently
I agree, RETURN TO SENDER!!!
Literally! I feel like they don’t realize it’s not only harmful but sexist too. Why are we saying something that makes no logical sense and has to usually do with shopping dumb shit automatically is a girl thing. Also it implies general good math is for men ugh
Idk maybe I am looking too deep into it
@@RaspBerryPiespeople are doing the same thing and saying "boy math"
@@whyme7862 I have never seen that used. Not saying it isn’t but it isn’t nearly as popular as the girl math
I don't buy BS.
I use Afterpay occasionally. Like when my son needs school books and money is tight. NOT on a cruise or a huge shopping spree.
Afterpay isn’t that bad because you have to pay it in 2 months.
i haven’t used these services as i’m hesitant of them but occasional use that you pay off in time so you don’t accrue any interest or at least very much interest, seems fine. but the idea that everything can be paid for in this imaginary land of “later” can be really appealing and drag people into bad debt.
My piano is in disrepair so I had to set up a keyboard to practice, but there isn’t enough light where the keyboard sits to see the music very well. I’m thinking of buying a lamp and putting it on Afterpay because, well, I kind of need to see what I’m doing. I think that financing was originally used for this very thing - appliances and furniture that one needed.
@@laur83long as you make the payments as scheduled there won’t be interest.
School books can be bought used and borrowed. When I was in school, I never bought a new book. They charged $200 for a psychology book. I found it used for $40. Even if the edition is different, the book is still viable.
I use Afterpay RESPONSIBLY. I don't do multiple orders at once and I make sure things are completely paid off before starting other ones, and don't do it often.
Yes right and I only use small amounts nothing over $100
That part, and in my case if I do multiple orders, best believe I have calculated it beforehand and it's within my budget to do so!
I know! Me too, I’m like bro I thought we were all using it the same way!
I just moved into a new apartment, and everybody is tryna tell me to go to a rent a center for furniture. I do not want more debt, and I read that it's a horrible financial decision. I'm gonna just save and buy when I have money.
Renting furniture?! Oh god 😂 I agree just save up, id rather live with a desk and a matress on the floor as long as I have a functioning bathroom and kitchen then rent furniture..
Side note: this "girl math" excuse is embarrassing. It just means you want to pretend that you don't know that you're overspending, when you clearly do. It also plays into the stereotype that "women aren't good with money" - ugh!
I'm tired of it 😂 Also the phrase "the girlies that get it, get it" is annoying to me too. It just one of those mean girl phrases to me... Maybe it's just me, but people are free to say what they want..
It truly makes me CRINGE. Yet it is spread widely, especially among younger demographic.
In a way, I see it as a complimentary part to 'that girl'/main character aesthetic package, with extreme lack of self-awareness.
I have Gen Z sister, myself I'm a millenial, we are coming from poverty, yet we couldn't be more different now when it comes to spending. She could be easily considered as 'high maintenance': never/rarely using public transport, cannot cook (always on takeout), multiple closets with clothes, accessories, makeup and skincare on more high end level while me, one who earns more, is mostly saving. Saving for the future, saving to travel. And don't get me wrong - although I'm not as pretty as her, I like to shop, shoes in particular, but if I want something, I do overtime to afford it.
Yeah, it’s the same thing when people say “colored people time” and expect me to agree with them.
Don’t denigrate the entire group to make yourself feel better.
I hate the “I’m just a girl” phrase that’s popular now… I feel like it plays into stereotypes that make women seem inferior and incompetent
Girl math was SUPPOSED to be women explaining LOGICALLY why what seems like a bad decision is actually a good decision. A “What Would Elle Woods Do?” Fun nod at girls culture (One dress is half off that means if I buy two dresses then I’ve only bought one dress…regular math) Like feminism in general the plot was lost along the way
I am a woman. I am good with math. I wish these adults would stop giving us women a bad rep for not being able to do math because some women chose not to be responsible.
Agreed. I am in charge of my household finances and a lot of women are. I don’t know why people think it’s a trend that women are bad with money. A lot of women manage the finances for their families. I am financially literate
Meh I don’t care I’m not like that so I just don’t associate with that🤷🏽♀️
Girl math started as a joke. It's not our fault some people choose to be stupid. It's not that deep
Preach
Women tend to over pay on stuff they dont need. Women were buying the $50 Stanley cup because tik tok told them.
Maybe the question we need to ask is why do women prioritize keeping up with consumerism and fall for every marketing campaign.
Men generally arent spending $1000 on skin creams.
IN DEFENSE OF GIRL MATH it was supposed to be a “What would Elle Woods Do?” Kind of fun nod to girl culture where we like nice things but are smart enough to budget for it. “This dress is half off so if I buy four then I’ve only paid for two.” Ya know, real math. We definitely lost the plot along the way so it’s necessary to keep shaming these poor financial decisions, hopefully people will wake up sooner than later. Thank you for bringing these issues to our attention.
Elle Woods is a fictional character. Why is anyone trying to live real life based on a fictional character? People are brain-dead and deserve to be in debt.
I'll buy my four at the thrift store or garage sale that's like buying four for the price of one
Rofl, if you bought 4 you paid for 4. Lol. Even when yall try.... Hilarious
@@Tential1 Of course, dude, duh. But for the price of two is the “girl math” part.
Try again.
I literally had this conversation with my mom who is already in debt. She doesn’t understand that regardless if you pay it in full you’ve already accumulated so much interest you could’ve gotten two more rounds of groceries…it’s really hard to explain this sort of thing is not just free handouts…
There are really good TH-cam videos that explain interest and how it accumulates!! It may help to sit her down and show her one of those videos. I can understand the math all day long but it’s REALLY hard to explain it to someone else in a way that sticks for them.
I like how you said it isn’t helpful to people if they aren’t responsible. That’s the key component: Responsibility. I’ve used affirm for a few things and it has helped a lot. But like you said people think they can buy whatever and however much they want . It’s just like credit cards. People get roped in and then end up with massive debt because they can’t afford it. Great video!
Buy now pay later is useful but you need to exercise SELF CONTROL with it! Here in the UK whenever I've used it, they send a reminder before the instalment is due, and even if you miss it, you can pay it manually the same day or the next day with no extra charge. You can also pay off early if you like. But if you default, the consequences can be disastrous. How do you order things without adding up when and how much you need to pay? And why blame the companies for your lack of self control?
People will ball till they fall over here...LITERALLY 😂
People don’t have to money to buy the crap to begin with over here. So when the payment comes due they still don’t have the money.
More people need to go cash! Cash budget to get back on track.
I don’t entirely blame the companies, but please realize that everyone is on a different journey. Be happy you weren’t born with bipolar disorder, ADHD, or any psychological conditions from your upbringing. Life can be hard.
@@kemikunle9360RT on the adhd. Got diagnosed as an adult and now I have better control over my finances now, though it's still tough bc that's where the impulsivity comes in
@@kemikunle9360 I have childhood trauma from growing up in poverty, and from emotional abuse and neglect. And in my 20s when I got a credit card I overspent and racked up debt. I did it because I got a sense of control from finally being able to wear clothes I LIKED (before then, I was forced to wear clothes I hated). I spent a long time in therapy to get myself healthier and my finances back on track - it took YEARS.
I could have continued in that cycle without taking responsibility but I decided not to. I have worked with and studied neurodivergent people, so I understand that this is a difficult thing to control for them. But not everyone in debt has bipolar or ADHD! The girl in the video was quoting "girl math" while calling herself a "bad girl" for spending - she KNEW she was overspending. At some point we need to cut the crap and be honest with ourselves.
I'm not perfect at finances, I'm still getting my sh*t together. And if someone has a developmental or mental health issue, I empathise. But let's not pretend that some people aren't out here wilfully racking up debt just because they don't want to be responsible.
…as someone who uses after pay and Klarna all the time I’ve never had any issues. 😂 I never missed a payment though and I have a high credit score so I do well with paying things back. I just love it but I tend to make large purchases but I be paying it off in the 4 payments with no issues. If your smart you can def use it in your favor 😂.especially with how hard it is to survive out here 😅 BUT this is not for everyone. If you have no real plan to pay it back you are PLAYING YOURSELF. This is a great message for people to hear.
But are you able to pursue other personal finance goals that contribute to stability? Emergency fund. Retirement. Leisure travel debt free. Paying off debt.
BNPL enables mindless consumption
Same! Interest 0% free payments for 4 months is a blessing to me. You able to use your cash elsewhere.. savings/investment 🤷🏽♀️
Me too!!! Sometimes I just don’t want to buy anything out right even if I have the money. I always use my debit card on 4 pay. Never credit cards. It’s the same amount anyway, just divided by 4 every 2 weeks.
Yeah the people their really gojng after are the impulsive ones, cause as soon as you forgot about it once...😬
I use them all at times but for Christmas, I use Affirm ( Monthly payments).. I went hard.. I got the family a new PS5, new Xbox for each room ( We're heavy gamers), new cellphones, & laptops.. It was a 12 month payment plan all one bill.. I pay double each month so Im pretty much halfway done... I told them , dont expect much this Christmas 2024...😅😅😅I'm taking a breather😅😅...
Yesss- they do definitely come in handy for certain purchases.. To be perfectly honesty, I think is nobody's business. Thats your household. You use it & pay it back ..Then again - if you're not responsible, it could hurt you like a credit card..I'm gonna use them when & how I want & keep it moving.. 😉😊
It reminds me of the early 2000’s when I graduated high school and credit card companies were handing out cards to everybody. I messed my credit up early in life. This is the same thing.
Yep. I got a credit card bc they were giving out free pizzas 😭
I actually signed up for a discover card my freshman year of college and used it to build my credit - I made sure not to use it for dumb stuff and 20+ years later I've got a great credit score.
@@megsley i definitely didn’t use mine properly lol
It took me years to rebound from that trap. Never again!
I was lucky that I got to learn from my parents. My mom told me to never get a credit card and if I did always pay it off immediately. I did that and my credit skyrocketed. It’s sad because my mom told me her credit has never been as high as mine. 😢😢😢
There is a saying, “there is no such thing as a free lunch”. It means that someone will always end up paying. It could be you or someone else. And it is unlikely that someone else would want to pay for your lunch.
this is why you use pay later options that DO not add interest. Interest is not your friend when buying things, especially when you can’t really afford it.
My family wanted to take a cruise. It was our first vacation together. I didn't want to go because I didn't want to spend all my savings. My sister talked me into Uplift. It was the worst decision. I had to spend all my savings and get a loan to go. I didn't even enjoy myself and was stuck for months paying off that loan. Don't do it!
So sorry you did that. Most cruise companies and companies in general have it where you can make normal payments on your trip. Just book in advance and the vacation becomes part of your monthly bills until it’s paid off. I don’t offer any of those services to my clients. I just set them up with a normal payment plan.
It seems like the issue was more with the cruise than it was with uplift. Unless ur saying that paying for the cruise up front would have made it more enjoyable?
@@Tkara8 no the issue was I didn't have the money to pay for a flight, hotel, transportation and the cruise, which is why I didn't want to go. I was then struggling to pay off Uplift for months after because I couldn't afford it. I've been on several cruises that I paid cash upfront. That particular year was a financial struggle and I had no business going on vacation.
I don’t even recommend that. With Carnival which I know you can pay them until you’re due date. Hell, I didn’t even know you can use Klarna with carnival.
To the OP: sorry to hear your story. Family is the best...but they sure know which buttons to push to guilt you
My general rule: If you don't have the money, right out to buy something, don't buy it! I purchase everything by cash/debit. I never put anything on credit payments, including furniture and appliances. I save and buy it straight out. If I don't have the money, I do without. I don't even use a credit card. The only 2 things that I finance is my house and my car....nothing else. Oh, and my son's parent/student college loan, that's it.
Financing that car is also very stupid btw. The only thing you should finance is a home. Period.
Agreed - I have never financed anything. If I can't afford it, I don't get it. The only purchase I would consider financing is a house, and even then I am trying to amass a large down payment with the plan to pay off the house fast. I am sure you can agree that life is less stressful when you don't owe anybody anything!
I got my crown on credit and it’s all paid off, no interest because I made the monthly payments on time! Now I have private insurance and it pays for those procedures!
@@zzzarkka Trust me, if I could buy a car cash, I would. I don't have $25,000 on hand. 🤷♀️
My father told me this very young. He still lives by it
The fact that Uber Eats lets you use Klarna lol 😆
Seafood boil in payments of 4 lol
Dirty Work! 😂 😂 😂 NOT FOR A BURRITO
No way 😂😂
I love it
No way!!! let me place an order real quick
Idk about you guys. But this video just made me feel SO good about my personal finances.
I'm SO glad my parents taught me about credit and debt .
Just paid my last $62 I am committed to keeping my money to myself. It is very useful. I have to say its so convenient to have this, but I noticed that it’s taking up a lot of my money that I could be saving
Just wanted to thank you simone for all your doing. I have a severe spending addiction. While I was getting ready to shop I clicked one of your videos. I stopped heard you and was shaken to my core! Immediately knew I didnt need any of the things I was trying to convince myself I needed. So I went to the park instead.🖤🦋
I feel so blessed that I was able to help you in this way. We all are battling something and sometimes we just need Something to reel is back in. 💕💕💕 I love to be a nature also it is very relaxing and free! Some things in life may be a everyday battle but as long as you put in the effort everyday I think you will be better than the day before. I wish you well on your financial journey and in life. YOU GOT THIS!
If you are convincing yourself you need it no you don't. I hope things get better for you.
Keep going to the park! Blessings
Love that for you! ❤ the only thing you need is the dopamine you can get it from other things instead ❤
Try ordering some books from the library. It gives you that little dopamine hit of getting something new!
This is why I watch Financial Audit with Caleb Hammer.
My lock screen is a picture of Caleb 😂
taquitos, Taquitos, TAQUITOS!!
@@so.many.obstaclesur giving me ideas 😭😭
You should check out Dave Ramsey too I like his stuff
Love his channel!!! So cool to see his community elsewhere 😄
the girl math was crackin’ me up 😂😂 like girl no, that’s just spending irresponsibly 🤣
Irresponsibly what?
@@sorormimm493 I think they meant irresponsibility
@@cniknik9863 nope irresponsibly is correct, but irresponsibility is also correct :)
currently on a plan like this to pay off a 6-month language course, don't regret it at all its totally worth it but its Stressing meeee. a single thing first time in my life. how on earth ppl live like this constantly. still baffled that its SO common HOW
buy now pay later is so great for when it comes to presents and such, I recently used it because I forgot someone's birthday and the gift didn't fit in my budget but when I got paid it would. gift was 25 euros and i paid it back a week later. but i really used to rely heavily on after pay and I'm happy to say I don't anymore. only for important reasons and those are only a few exceptions, otherwise always pay straight!! i feel like people aren't learning to be responsible w their money anymore!!
I used afterpay when I moved to Wisconsin from Colorado and had been warned about the long winters. I got a treadmill (after reading a million reviews and getting one for tall people, also had a coupon), a workout bench, and mats to protect the floor from them. It was around $425 and I paid it off in 4 months. And that purchase SAVED ME over my first and every 8 month Wisconsin Winter since.
I used affirm when I needed to buy a computer for my first hybrid job. I didn’t have a computer and needed it for work since that was basically my job (working on the computer). Because that was an investment I paid it off in six months and never used affirm again lol.
I am glad that you used it and paid it off on time. I think it is not bad for the people who use it appropriately like you did. 💕💕💕 But unfortunately, there is a large amount of people who use this, and do not have a proper plan of paying off this debt, and then they end up drowning in it.
@@SocialSymone since life isn't predictable, I still think it is scary to buy something which you can't pay straight away, that instantly loses value once bought
Yes, you were being responsible and smart. There's nothing wrong with the service.
@@lashunburton657there’s nothing “inherently” wrong about it, but it has some major negatives in that it helps people make harmful decisions. It’s like heroin - yes it can be used responsibly by a select few, but the vast majority cannot engage with it in a healthy way
It's really upsetting how deeply accepted debt is in American culture. My friend's husband recently got a low six-figure payout from a work injury, which included their $30k credit card debt being consolidated and paid off and his first thought was to open several credit cards to "fix their credit scores" because the year they spent missing payments and barely scraping by tanked their scores. My friend is tired of drowning in debt, but her husband just sees it as another vehicle for the lifestyle he wants. I'm the only person around her who agrees that her husband's thinking is dangerous and could land them in a worse financial position than they were previously in. It's frightening.
Your friend needs to get some divorce papers
Financial literacy is really tough for some people, I hope he gets help or becomes receptive towards his wife’s advice
This is y finances r the number 1 reason for divorce. When 1 is extravagance and 1 is logical it wont work
Her husband probably thinks that finances are a game, like you get credit card points as a score for being smart enough to ‘trick’ the system. I really hope she’s able to get away and protect her finances from her husband!
I only used one of these once, klarna, to pay for $100 bill. This was when they were first starting to pop up. I had the money in my account and was shopping for clothes online, but saw the option and it was 0% interest so I was like “eh why not lets see.” I wouldve been about $10 over my budget on the purchase so I thought ooh this will help me not be overbudget technically and I can budget for the payments in the next few weeks.
When I tell you that seeing the $25 payment every two weeks pissed me OFF so much 😭 like why am I STILL paying for clothes I already got and am wearing. Never again
😂😂😂😂 I learned the hard way. I only use it for concerts and Christmas
I never use Klarna excessively. There was a time I was broke asf but still wanted nice things so I’d use Klarna to take smaller portions out of each check and then pay in off early. Obv don’t buy stuff you can’t afford but I technically could afford it
Just in pay increments. I never treated it like it was free money I treated as money coming out of my check little by little and I took it seriously.
@@2alien4earth2human4spaceyou’re smart
That's exactly why I never used it! When it first popped up I was buying something expensive, my dining table I think. Afterpay appeared as an option and I considered it since I hate spending large amounts, but when I imagined what it would be like to still be paying chunks off a table I already had and which was probably already dinged up a couple months laters, I got pissed off. Yeah it softens the blow....by adding more blows! It's probably worth it if you have have a genuine need.
@@Ishouldnthavebeensopublic I don't see how it could be any other way 😭 like the app clearly tells you that you have to make payments. Are people ignoring this part & just not paying?? Like????
I ALWAYS round my payments up to the nearest $10 and my total gets paid off early, so even if interest does accrue, it's not as much.
I've been watching your videos A LOT (getting ready, eat, doing my make up). Girl, please keep them coming. I'm not in the bad financial situation based on my judgement (Iol but I don't have good amount saving), but my issue is online shopping habit. Your videos keep me humble, thank you!
I have a rule that I try to abide with when shopping for everyday products: If I can't afford to pay it in full at that moment, then I'm not buying it. I don't like to deny myself from something fun every once in a while but a lot of people nowadays don't know how to place boundaries with themselves and prioritize what they want vs what they need. I totally agree with you, these services are not our friends! Going into debt over a Sephora Haul or a Chipotle Bowl is insane to me😱and don't even get me started on how these services are leading to so much overconsumption and the immense harm it is causing on the environment 😭
It’s all a mind game. People like payments because it fogs your perception of affordability, which then will cause you to overspend 90% of the time. Most people who only would spend $1,000 cash on a couch will spend $2,000 on one if they can finance it because the payments hurt less. Corporations are aware of this. This is why they don’t mind offering you 0 interest…it’s all a mind game and corporations are winning.
Unfortunately, this is a sad reality that many people don't realize. Interest hurts so much and people don't realize it until they check the math. For example, if you're paying $25 every month on your credit card bill that is $1,000, it looks like you'll pay it off in 40 months. However, after looking at your statement, you'll see the APR (the interest rate) be added AFTER you pay your monthly bill, which was $20. So, you're actually only paying $5 off of your credit card bill each month. Making it so you will pay off the credit card bill in 200 months.
Yup! Dave Ramsey has a saying when it comes to purchasing, "Wealthy ppl ask how much it costs, poor ppl ask how much are the payments." This forever shaped how I think about whether I can actually afford something.
Once you start investing and understand the concept of compound interest you realise spending money frivolously on loans makes you the sucker that is keeping rich people wealthy. Girl math and you're 32🙄
You're right, it's the same but in the opposite direction and usually with much higher rates.
This!!!
I grew up with my parents being very frugal, so when I started making money I started spending it as soon as it hit my account on pay day. I think I was overcompensating for feeling like I didn’t have enough growing up when in reality I was always well provided for. I always had fresh food on the table, nice clothes and toys!
When I became unemployed during the pandemic I started to re-evaluate my spending habits. Now that I have a new job and a newfound appreciation for financial stability I’ve become ruthless when it comes to budgeting. I watch your videos to remind myself of the importance of staying on track. It’s important to protect your future!
I’m glad after pay only became a thing after my change in mindset, if it had been around beforehand I can totally see myself using it then to my hearts content, which is sad.
Symone! I love these reaction-type videos as much as your commentary ones! Could you please do more of these?
I used to use the BNPL like crazy. There was a point where I had $300 in payments every payday. I stopped cold turkey a few months and I have saved so much money. I will never use it again.
Have they not heard of not buying what they can’t afford? It’s like they want instant gratification without the means. 😭 Might as well have overdraft fees with the bank instead.
Nope! Consume consume, Buy buy, the American way.
I just have to say, it feels amazing to be 30 and out of ALL debt. I cash budget to stay on track now.
Seriously, I took my kids school shopping at Kohls and when that lady told me my total was $600 I handed it to her and that was that. I used to feel sick when I’d slide the card and have a huge balance over my head.
I don’t know why people continue to put themselves in debt pain for random things.
CASH budgeting is where it’s at.
What is cash budgeting?
@@privateaccount1998it’s when you budget what you’ll need for the next 2 weeks/month, then take all those individual categories in cash (ex: $200 for groceries, $100 for gas, etc). Then you carry that cash and only spend when you have money in that category. If youre out of money for the clothing or shopping category, you cannot buy whatever you were going to buy until the next paycheck. You cant take out from another category to cover it.
@privateaccount1998 only spending cash you have not planning to pay later
Who knows 😂 literally just "budgeting"@@privateaccount1998
@@privateaccount1998 just like what it sounds. You only pay for everything that you possibly can with cash. Check out envelope stuffing, there are literally TONS of videos on TH-cam about it. It's a good way to keep yourself out of debt and to see exactly where you are blowing money that you don't need to be.
I feel like girl math started like a silly thing like “oh if is cash is free 🤪”, but know I’m embarres by it, now it’s just a sadly excuse to be impulsive
I was at a hotel desk a few years ago and a person asked if they could pay for their room using Afterpay 😭 the way the receptionists looked at him before explaining he needed to put a card down
Ironically they wouldn't have had a problem doing that online.
I think people who have fluctuating incomes are more vulnerable to these types of things because it becomes easy to assume that maybe you’ll be able to make more money in future weeks/months than you had been making around the time of the purchase. And it’s definitely easier to budget in general when you know how much money will be coming in.
Buy now pay later is like a credit card. If you're a credit card person, you'll probably be fine. But if you struggle to pay off your entire cc, don't get into bnpl. It'll be the death of your finances.
Great educational video, thank you ❤️
As I get older and my debt dwindles, I get sad seeing stuff like this affecting young folk (I’m 28 lmao)
Same lol
@@DarneIITV fr like I’m over here debating if I should get $2 dollar snacks, meanwhile people 5 years my Junior taking out 10k credit loans with a part time job. Crazy stuff lol
Must be nice lol, I’m 28 and student loan debt is killing me.
And I’ve had a lot of people our age suggest these to me but I already have credit card debt (necessities) and I’m very hesitant to get more. I recently made a large purchase (large for me) and did split it up using my PayPal but it’s auto charged for only four months, and I have the money in my account. A lot of folks using these options are using it because they DONT have the money and act as if it will magically show up later. But it won’t cuz they keep spending.
The woman using “girl math” as an excuse enfuriates me. By simply putting some of my income into savings each month and not buying things I don’t currently have cash for, I have zero debt, an ample savings account, growing investments, and have even been able to purchase my own small home in my 30s. And shockingly…. I’m a girl 🙄🙃
And “they don’t teach financial literacy” in school is also no longer an excuse either - we live in the information age! You can literally watch free “personal finance 101” content on TH-cam and TikTok, the same way these people watch consumerist influencer crap that makes them want to buy things they don’t need. If you’re online anyway, go watch something smart and take some accountability for your behavior.
You bring up an excellent point. My sister-in-law is one of these people who wants to blame everyone else for her financial illiteracy. "I wish dad had taught us more." It's an excuse, it's lazy and there is no reason you cannot educate yourself on finance, there are TONS of tools out there. I taught myself photography before the internet ever existed simply by reading everything I could get my hands on. I'm tired of the whining.
You make a good point about cruises. If you cannot pay in full when you book, you'll pay more if you buy now/pay later. Everyone deserves a vacation but we have to be strategic about it.
We love a good plan! 💕💕💕💕
When you book a cruise, you only have to pay the deposit up front. You have until the final payment date, which is typically 90 days before the cruise leaves, to pay off the full amount. You can set up regular payments towards your cruise. That's why using afterpay makes 0 sense to me
You can layaway your cruise and pay it off before you go. You don’t need afterpay. Pay it directly to the boat.
It might depend on the cruise line, but ours wouldn’t let us do any kind of monthly payments without using uplift.
@@gray_girlGood to know that all cruise ships don’t operate the same.
I always buy my flights, hotels, and cruises using BNPL because my credit is excellent, and my interest rate is always 0%. My daughter and I moved out of the US two years ago and it has helped us pay for travel to 7 countries interest and debt free by making payments instead of paying all at once. ❤
My husband and I use afterpay all the time for vacations/business trips. However we book our tickets months in advance. So by the time vacation is here our afterpay is already paid off. But we budget our afterpay into our travel savings. I think it’s very important that if you don’t have a good relationship with money. I will suggest you don’t use them. However if you want to use these type of payments make sure you budget it into your plan. Never have more than one payment active.
Smart Spending Guys much love.💕
Remember layaway, we need that back
The knart days 😭
@@SocialSymone 😂yep
YES!! Nowadays, it's all backwards - get it now and pay it off later. I feel like layaway was better. Is the massive popularity of BNPL because of people wanting instant gratification? My goodness, just exercise a modicum of patience. Or, just put the item into the shopping cart, and give yourself a 72 hour cooling-off period (usually it doesn't seem as exciting after 3 days). Sometimes websites will even send you a coupon if they notice you left something in your cart, so if you decide to go ahead and buy it, you'll get a bit of a discount.
Amazon has layaway 😅
Noooooo lol as a kid my mom would have my sibling and I shop. When it was time to get it she wouldn’t pick it up or we would pick like a few items from it. Now Christmas time was guaranteed layaway pickups. Kmart and marshalls 😂😅
People usually buy the things they want first then the things they need and complain that they don’t have money for things they need
THIS!! I watch Caleb Hammer and the amount of people being like “I had to put the groceries on the card because I didn’t have enough money, I need food!” Then half their checking account is just bs subscriptions and going out to eat and shopping
Bingo!!
Cuz hot tf you got $200 nails on but complaining you don't have enough for groceries....
This reminds me of a worse version of the 0% interest options I was forced to push working retail. I stressed to everyone what the interest would look like if they didn't pay it all in the time frame and I broke down the monthly payments for them. It wasn't required for me to do that, I just had some regulars and young people that I knew would have a hard time if that 29% interest kicked it. Even helped a dad set up a budget so he could buy parts of his big xmas gift for his kids over time.
Did I ever hit my credit card quota? No. But I felt better knowing people understood what they could be getting into. And I had hella loyal customers who followed me when I transferred to another location.
Great video!! I was using the afterpay, Klarna, HSN, QVC flex pay at one point. I had to stop when I realized that those monthly and biweekly payments really add up. I paid off what I owed and don't do it anymore. I set up sinking funds (savings buckets/accounts) for things I want and once I have the money saved I go and buy what I want.
$400 is a CAR PAYMENT. I cannot imagine spending that much on a piece of clothing that’s not even custom made or tailored.
Your channel is blowing up, Symone!!! WELL DESERVED! Loved this video!!
Thank you!!! I appreciate it so much! 💕💕💕
I mourn for our generation. So many unhappy young people drowning themselves in consumerism and debt for NOTHING. I at least have some sympathy for traveling or experiences 🤦♀️ but in debt for makeup? Smh
I like using makeup but I’m not going into dept to buy it.
Hell yeah you mentioned Ross..my favorite place. I go inside expensive shops, snap pics of the nice clothes and then go on eBay and Ross and find the equivalent for a fraction of the cost
I use one credit card for things like a new phone after 5 years, dentistry and car repairs. All paid before the interest free period ends. A life saver
When the ps5 came out i had a friend who got one pretty early and told me he bought it with a "rent to own" plan. I told him that was dumb and by the time the console was officially his he probably payed out 1100-1200 bucks for the damn thing. Worst part is i cant even say with certainty that he learned his lesson. I wouldn't be surprised if he's in a similar position as a lot of these other people.
This is so odd to me, cause any business or economic class you take uses the rule: "if you can't buy it twice, don't buy it once", and this makes me realize at least one class for managing money should be required in school
It's like this by design. Capitalism doesn't want you to learn.
Idk where u received your education. But im in the US and never had any such classes nor did i learn any from my parents. For some people this isn't known information especially young people.
our current system benefits from monetary ignorance...
Exactly I always go by that rule
My high school (in TN if that matters) required personal finance but most people just zoned out
I know they don’t teach financial literacy in schools but where are the parents?
They likely don't have it either unfortunately 😕
Bold of you to assume the parents are more financially literate than their kids. 😢
A country of financial literate citizens isn’t helpful to those who make their money off the debt of others.
Because young adults listen to their parents... since when... this isnt Brady bunch
I’m so happy you made this video. Penny Lee CEO of Financial Technology Association an organization that represents these BNPL companies went on CBS/CNPC and said LOUD AND WRONG that people aren’t in debt using BNPL! The issue is it those companies aren’t required to reported to the credit agencies like credit cards are so it’s a massive black hole regarding consumer debt. Either they don’t report or they don’t report their money to the feds I can’t remember which. They are fighting against it because they KNOW the consumer debt for BNPL is insanely high. It’s like as bad as a payday loan.
I thought Girl Math was obviously a joke until I heard my students were talking about it… glad there’s content like this around
In 2018 I had my first manic episode and let me tell you...the next 5 years I spent a lot of money I didn't/don't have.
In the beginning of last year I realized what I've done and I'm dealing with a lot of anxiety thanks to my debt.
Like credit cards, BNPL loans can be used responsible BUT adding another debt to your monthly budget will reduce your flexibility in the case of emergencies. Paying the full amount is always the best option.
It worse then credit card cause there are no comsumer protections, you cannot negotiate to lessen you debt with those. And the interest rate are insane. Buy now pay later is for people that dont used the credit card or have max out their credit card .
@@khanhnguyen-tt3ff good points.
I buy most of my large purchases on credit cards but I always pay it in full each month. There are a lot of benefits when you use credit cards responsibly.
Yeah, I’ve heard it said that you should use your credit card like a debit card
@@thetillerwiller4696 Yes! Never use more than what you have in your bank account. Never ever.
And with the right card you get cash back!
My card will let me split up larger purchases at 0% interest but I won't get the cash back perk on it.
So I save, shop, pay my card. In full. Every month. Interest will eat away at any progress you try to make otherwise.
I might get some heat for this but a 0% credit card for 12-22 months would be better for some. After the 12 -22 months you get charged that interest. Just pay the card off before the 0% interest period ends.
You say “just pay it off” like that’s it but you’re missing the most important step - you have to be saving that money along the way. If you put 10 grand on a 0% interest card and you don’t have 10 grand sitting in the bank by the end of it, you’re F’d. That’s why the vast majority of the general public should stay away, they can’t handle it
It saved my skin in grad school when I needed a new computer. $110 every month for close to a year is a lot more manageable than $1200 up front! Closed the card right after.
But why are we putting it on a credit card in the first place? Why are we buying things we have to make payments on, making that thing a bill?
If you use it responsibly , and you commit to the payments so that it is paid off at the end of the loan.
I highly doubt these people have the option to get a 0% credit card. They seem to be financially irresponsible and I doubt they would even pay the credit card off in the time allotted.
I believe there are no more "pay later" options through Apple pay because they were losing money.
I think that for some who grew up always being told "no" or "we can't afford that", we feel like we really need the stuff we want. So we end up buying a bunch of unnecessary stuff to fill that void we had as children. Unless we wake up and realize that the stuff doesn't actually make us happy and the financial stress is way worse than not having stuff, we just stay in the cycle.
I’m watching this because it showed up on my feed, and the fact i’ve never heard of Klarna or any of these accounts before this video makes me feel so much better about my finances (esp post grad school) 😅
Every time I want to make a frivolous purchase I click on one of your videos. You’ve saved me from so many impulse buys!
1:19 The guy paying his loctician using klarna will need several reties / retwists before he has even finished paying for the first service 🤣😭
😂He’s lying Klarna don’t do all that
He was kidding
Never knew this was a thing. Some folks just have to learn the hard way when comes to controlling your finances.
About 2-3 years ago. People joked about financing their groceries and gas.
Here we are today 😂😂😂
People actually doing it. I’m scared for all impulsive buyers.
I had to stop buying things through those payment options. It can trick you into thinking that you can afford it.
Escape while you can! Buy your needs and not wants
I’m a new subscriber and been watching a lot of your content lately. I like your sense of humor, the fact that you’re not overly loud, and logical but respectful. Just thought I’d leave a comment! 😊
But also, it’s not like you pay the exact price of the product. There’s interest attached as well. So something worth 100$ becomes 125$ and more the longer it takes you to pay it off
OH YES!!!
Not for Klarna or Afterpay though
@@Rastaferrari829 how are they making the $ if there's no interest? Are there fees?
Watching this made me anxious and went and paid off full balance on my credit card
I have used it when my tv broke and got a great deal. We paid it off on payday. I have used it on furniture too but I pay more than what is due. I have used it irresponsibly before. No lie. It’s nice to listen to someone speaking facts. Sent your videos to my children. If they won’t listen to me maybe they will listen to you lol!
I think it’s ok for furniture and household appliances when you have a plan to pay it off. I kind of need a lamp because it’s too dark in my living room to read and I’m thinking of using Afterpay to get it.
Walmart has lamps for $14@@audreyandrea460
1) There is nothing wrong with using after pay for high ticket NECESSITIES like furniture ASSUMING YOU ARE A FISCALLY RESPONSIBLE PERSON. Therefore, you shouldn't be buying clothes, make up or take out with afterpay - that's stupid. And anything you buy with afterpay you should already know if you will have the monthly payment amount in your budget to make the payments and it shouldn't be for more than a year. If that's not the case DON'T DO IT!
2. If you use afterpay etc, you don't owe walmart or whatever retailer - afterpay, pay them right away on your behalf. You now owe afterpay etc.
3. Girl math is just an excuse to use your gender as the reason you're fiscally irresponsible. Let's stop that, it's not cute.
I use buy now, pay later but in a controlled way. I definitely don't let myself go crazy with it. I mainly use it on things I or my daughter needs that can't wait.
I see credit cards as system or tool
I don’t see them as shopping spree or dating tool
I truly only use mines for emergencies. I paid off two and have one more to go. Once I paid them off I leave them in a safe box and uninstall them from my Apple wallet because in my twenties, that credit card debt had me in a chokehold. 😂
I feel you but please elaborate on what you mean by a dating tool. 😅 I was just very curious
@@SocialSymone he prolly meant like tricking off with the credit lol
I just treat it as a more secure debit card. It's much easier to dispute transactions if your card is stolen. So I pay most of everything with it but I also don't frivolously buy things, usually it's food (grocery and eating out), gas, essentials, and the occasional hobby like reading or games
@@xenonsan3110some credit cards off great cash back programs. The Apple Card with the Apple savings as a great cash back program as well as an APY of 4.5%. That’s the only one I use and have paid off 80% of.
I just got a credit card @21 not to spend irresponsibly but to learn to spend responsibly! I was so scared to get one just because of all the horror stories that come with them but I trust myself not to be dumb and have been very strict on myself this year! I hope everything I work for come back and not in after pay installments 😂
First of all I love your hair. It's so good seeing someone not pack so much gel and spray into their hair to make it look "presentable". It's so refreshing to see someone just let their hair be. Your hair looks AMAZING in every single one of your videos.
Secondly(well lastly😂) your videos always crack me up likeeeeee. I can't even with you. You just speak your mind and it's amazing. Please keep uploading like you do❤
"girl math" is one of the most misogynistic things i've ever seen- it's really them saying "haha women aren't financially responsible, delusional, and stupid!!" like i don't know abt yall but NOT ME and never will be me ... shouldn't be ANY woman and has nothing to do with our sex
WOMEN CAME UP WITH THE SAYING !!! 😂😂
But it's women saying it 💀
@@JB-tz8fuso???? That doesn't mean it's not misogynistic... women can be super misogynistic too. Sounds like you get defensive and sensitive when you hear the word "misogyny".
@@chikipichi5280 It's internalized misogyny, one of the greatest defenses of a system of oppression is to have the repressed believe the myths of their subjugation
I think monthly payments for big items like a washer and dryer are smart, but small stuff is not the best
Been there done that (unfortunately) I had so many affirm bnpl loans back in 2017. I paid them all off and never opened another one. No credit card debt, no car payments!
I love Klarna as a way of protecting bank card info when buying online. Also gives me the option to pay after receiving my goods so I can check everything is fine and as it should be before paying. Way easier to start a dispute with seller that way. No way in hell I'm splitting payments up for monthly or letting it pass the 30 days... I only spend what i actually have at the moment and can afford. In my language debt is called "skuld" which is the same word for guilt. It's best to avoid debt as the plague, don't make yourself guilty.
I dont mind the buy now pay later method as I used it a few times and its been helpful! I can afford to buy it full price but the payments allow me to double and triple up my money while i pay it off! Also in a weird way it allows me to keep within my budget so its helpful for me!
Before anyone says anything, I do automatic payments as I use Shop Pay and i have no debt from it so i am reasonable when it comes to buy now, pay later!
I thought afterpay and such was only supposed to be used occasionally… you still have to pay it BACK PEOPLE it’s literally in the saying “buy now pay later”
Actually, the pay later option is useful if you buy clothes and/or shoes online - let's say you want to buy a specific article (I'm talking about a necessary purchase), but you are not sure which size or colour will look good / be right for you. AND you have limited budget and time. Even if there's a return and refund policy, you still have to fork over a lot of money before you eventually get a refund for anything you return. So, you take all of the available options from a shop with free return policy, select the pay later option and wait for the delivery. You will have sufficient time to try everything after arrival and decide which one you really want. Keep only the one thing that fits, and return the rest. The postponed payment is cancelled automatically then. This is how people in my country use it and it really makes sense, I've done it myself many times and it helps me to make better decisions with my purchases. After you return the unwanted things, there is usually an option to pay for the stuff you keep right away.
I really work hard to engage myself in someway of earning more income. My family are happy once again and can now afford anything for my family even with my Retirement.$67k weekly returns has been life changing, after so much struggles.
Hello how do you make such weekly??
I'm a born Christian and sometimes I feel so down of myself because of low finance but I still believe in God.
@@babytruca02Maria Angelina Alexander I really appreciate her efforts and transparency.
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
I heard a CNBC news host spoke highly big about this name and her strategies, how she has been helpful to many people. Been trying to reach her since.
I've been hearing lots of good things, and her trading strategies and programs are great!❤
my mum set into me deep as a kid that if i can’t afford anything i.n FULL 3 times over without it hurting what i usually buy then it’s a bad choice to buy it right now. it’s what’s kept me from ever using these pay later stuff or paying what i can barely afford.
This just showed me how proud of myself I am. I use these buy now pay later options pretty often but only if it’s it’s something I REALLY want (been thinking about it for months or keep noticing its absence in my life), or need.
Like you said in the beginning, but responsible and know your finances! Debt doesn’t have to always be bad, especially if you’re not pulling from high yield savings accounts in HUGE chunks.
Let it be an investment you’re ready to circulate your money on though!
Sharing this with all my friends because a lot of us fell into the trap! I wasted soooooooo much money on the apps and I’m fixing it now ❤please don’t buy something you don’t need on it