101 sats \ 7 replies \ @gmd 27 Oct 2023 \ on: Ridiculous ZIRP phenomena you've seen? meta
Has anyone ever used BNPL? I never understood how this got so huge... it must be only poor people that use it?
It's scray how many people use it.
- Scary how many people have such an low financial literacy
- What's even more shocking to me: how people feel entitled to stuff they can't afford. It doesn't even cross their mind to stay humble and save up for what they really want.
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It basically serves the layaway crowd. My dad would use it for electronics stuff.
Like most forms of credit, it's probably addictive once you start using it.
As a credit-phobe one of the most chilling takes on credit was one I heard from a friend that carries a significant credit card balance:
I feel more wealthy using credit.
He has a good job and income! He pays no housing costs! It blew my mind.
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After loan pause ended last month finally paid off $360k student loans (post tax 😢). Loathe to take on any debt...
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Wait are you saying you did it?!? No more student loan debt?
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yeah haha. was a bit anticlimactic tbh...
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DUDE! That’s so crazy awesome. You’re free!
When I paid off my debt (10x less than yours), it didn’t feel like much at first, but eventually it felt like a storm had cleared. That low grade chronic stress was gone.
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haha thanks. maybe it was anticlimactic because i had the money set aside waiting for the federal loan pause to end... just hurts to think of the total in pre-tax dollars haha
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