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If you have to pay for a phone over 24 months then you can't really afford it.
by saberience 3y ago
If you have to pay for a phone over 24 months then you can't really afford it.
- csmiller 3y agoPaying over 24 months is mildly cheaper due to the time value of money
- saberience 3y agoThat's not really the point I am making and I think you know it. BNPL options which let someone split a 500 dollar payment over 2 years are there to encourage people to spend money who otherwise wouldn't feel OK about dropping 500 dollars right then. I.e. if you have to use the BNPL option, you can't afford it in the first place. In fact, if you have to even stop and think about whether it's worth splitting it or not it means it's not a good idea.
- helij 3y agoI can afford to pay pretty much any household item including phones in full with cash right away. I rarely do if there's 0% interest payment option available. Prefer to invest money in stocks/funds and instant access savings account at 4%+ at the moment. No-brainer.