As the holidays approach, many consumers are worrying about how to balance their budgets and still have enough money to make season purchases. For some, this worry has led to a decision to cut back spending and tighten their budgets. For others, the worry has led to an interest in buy-now-pay-later options that allow them to purchase items now and pay for them in instalments over time.
As the economy continues to struggle and many people find themselves with less disposable income, some are taking the opportunity to use buy-now-pay-later services to help them purchase gifts that would have otherwise been unattainable. One example is Paylater, which has been around since 2016 and allows customers to purchase products from multiple merchants without taking out short-term loans. It’s easy to see why this service has been gaining in popularity among those who are worried about finances but don’t want to miss out on making season purchases.
At the same time, others are choosing to take a more conservative approach to holiday spending, drawing on savings to make purchases and cutting non-essential spending to make up for any deficits. It’s a sensible option for many people, allowing them to make purchases they would have made anyway but at a fraction of the cost. By paring down their spending and being frugal about their purchases, these shoppers are doing their best to make sure their finances stay on track during the holiday season.
When it comes to money worries during the holidays, shoppers have two main options: they can either take advantage of buy-now-pay-later services to purchase items while still managing their finances, or opt to cut back on discretionary spending and draw from savings in order to make their purchases. ultimately, it’s a personal choice that depends on the individual situation. Whichever option they choose, the important thing is that they make sure not to overspend and risk putting themselves in debt.
