“Thrifty or Spendthrift? Money Woes Spur Saving vs. Splurging

Money worries are nothing new, but lately, many shoppers are feeling the pinch of a slowing economy and it’s causing some to change up their spending habits. With cash-strapped shoppers trying to stretch every dollar, some are making more frugal choices and opting for cheaper products. At the same time, others are taking advantage of buy now, pay later payment options. Increasingly, businesses are offering innovative payment plans to customers who may feel strapped for funds. These are becoming ever-more popular as people worry about their finances and need more flexible payment options. This is particularly popular for larger purchases, such as furniture, appliances, automobiles, etc. The “buy now, pay later” trend has gained lots of steam in recent years and it’s expected to continue to grow. It’s an ideal solution for customers who need to make a large purchase with little money or access to financing. By providing shoppers with the ability to pay in installments, purchase prices become much more manageable. However, this trend isn’t for everyone. Consumers need to be mindful of added interest and fees that come along with those payment plans. They should also make sure that they can handle the additional debt, on top of all their other expenses and bills. These payment plans can quickly add up if the customer is unable to settle their bill in the agreed-upon timeframe. Overall, the trend of “buy now, pay later” is becoming more popular as money worries loom over shoppers. Faced with cash-strapped shoppers, businesses are responding with innovative payment plans that provide flexibility for those in need. For those in a pinch, it may be a good option to look into, but it’s important to do the math and make sure you’ll be able to pay it off in a timely manner.