The Dangers of “Buy Now, Pay Later”: Instant Gratification & Normalization of Debt

INTERNET ANALYSIS. let’s discuss services like Afterpay that let you buy now & pay later. // Signup for your FREE trial to The Great Courses Plus here: http://ow.ly/t9o530qpmBb

(urban outfitters illustration in the thumbnail by Jasmy Liu, from this article: https://orangemag.co/orangeblog/2019/10/15/what-the-urban-outlet-sale-says-about-the-search-for-affordable-quality-clothing)

TIME STAMPS BELOW:
0:00 – intro
0:38 – Afterpay, Klarna, & Quadpay allow you to split your purchases into 4 installments
2:15 – why not just use credit cards?
3:40 – the psychology of “buy now pay later” – why is it so appealing?
4:21 – consumerism in fashion & beauty… instant gratification
5:57 – you have to BUDGET! track your spending!
7:20 – sponsor moment!
8:56 – installment plan VS credit card.. which is better?
12:14 – living above your means
13:16 – 72 month (six year) car loans?? excuse me?
14:56 – installment plans & frequent upgrades for iPhones & other smartphones
15:47 – history of American consumerism (1930s vs 1950s spending habits)
17:53 – how do other countries compare? do y’all spend or save? LMK!

WATCH MORE:
Opening Up About My Student Loans and Credit Card Debt – https://youtu.be/tku2C-DgA6s
How I Paid Off $10,000 in Credit Card Debt in 6 Months – https://youtu.be/f8JjqrVcv6s

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Hello my dudes! My name is Tiffany Ferguson. I’m a 24 year old sharing my thoughts and life experiences. Here on Tiffanyferg, recently I’ve been working on my Internet Analysis series, where I research and discuss topics related to social issues and media. I also occasionally talk about my experiences with college, traveling, study abroad, veganism, and more.

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