a new car , television etc then it is obvious you couldnt pay the full price , in my own simple way of thinking has this free credit nothing to pay for 20 years help cause some of the financial trouble we are now in ? .
Answer1:Yes. The old "layaway" concept largely vanished as retailers and lenders offered easy "buy it now" credit.
Answer2:When I see those kinds of deals with no interest for 2 years, I get offended. Why would I want to go into debt to buy a bunch of overpriced junk that I dont need. Although layaway is better than using credit and having an interest rate, it still involves the same mentality. (Nowadays, by the time youd pay an item off--for example an HDTV--youll be getting last years model which either has fewer features or costs more than this years.) Whether it was back then or now, you can still open a bank account and save money. Otherwise its that I cant save up money mentality; I need to be making payments. Basically, I think layaway paved the way for these "free" credit deals.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment