Listen, it’s kinda wild out there right now. So many folks are using these buy now, pay later deals just to snag groceries. Like, what’s up with that? I heard from this Lending Tree survey that more people than ever are turning to these loans. And yeah, they’re falling behind on payments, too.
The economy’s throwing everyone for a loop with its crazy inflation and sky-high interest rates. I mean, how are people supposed to keep up with the cost of, like, everything? It’s bananas.
Matt Schulz from Lending Tree chimed in about this whole mess. He says people are just trying to stretch their budgets any way they can. Sounds about right, doesn’t it? Things aren’t looking so rosy for the near future, either.
These loans, sure, they don’t charge interest (sweet, right?), but miss a payment and bam! Those fees hit hard. Suddenly you’re juggling multiple loans and it’s like, “How’d I end up here?” Apparently, 60% of folks have multiple loans at the same time. Yikes.
People gotta watch out though. These loans might look all nice and shiny, but mismanage them and you’re in deep trouble. Schulz warns folks to tread lightly.
And get this – a bunch of people used these loans to fund their Coachella fun. Imagine that, spreading payments just to dance under the desert sun. Plus, DoorDash now lets you finance your burritos. It’s funny, but also kinda sad.
It wasn’t too horrible before, you know? Even with inflation, jobs were solid and wages kept pace for some. But, big shots like Walmart and Delta are hinting at trouble now. They’re seeing the demand dip, which isn’t exactly a good sign.
Just keep your wits about you if you’re diving into the BNPL world. Even with the chaos, it’s your wallet on the line.
