More Americans are financing groceries with buy now, pay later loans — and more are paying those bills late, survey says
More Americans are financing groceries with buy now, pay later loans — and more are paying those bills late, survey says
I keep on wondering who the fuck has the money to be using things like grubhub. I realize its a non sequitor for this article but I really don't see how these businesses stay in business.
Credit card debt is a pathway to many abilities some would consider unnatural
My neighbor gets everything delivered, but I have no clue what he or his wife do. If my spouse made the same as I do, we could afford to do all that delivery stuff. But it still makes no sense
I have friends that talk about getting food delivered nearly daily, plus groceries and whatnot. I am so frugal it makes my asshole pucker to think about delivery fees PLUS them getting your order wrong so often PLUS the food is cold and takes way longer than simply driving there. And then in addition, we actually need the human contact. But I'm not gonna criticize my friends to their faces. Just here.
Same. If my spouse made the same as me and did not have all the medical issues I guess I could but we would not. Likely would just live in a nicer place.
People who don't really understand credit cards or have a cognitive disconnect between cost and value when fulfilling their sustenance need.
When people get hangry they don't make good choices.
Roaring 20's pt 2
I have used it a bunch over the years because I hate talking to people, but I never use delivery so I think it's only a few extra dollars over calling it in in average, plus some places do offer "discounts" and Amazon prime allows grubhub premium for no charge which removes more fees and gives you credit for pickup orders. The discounts aren't much but can bring it down to what it costs by phone and sometimes a little more. I used to throw a few bucks for tip, but i have decided not to do that anymore because I pickup and it's mostly from pizza places which I wouldn't tip if I call it in so why should I this way.
Of course, these days, I barely get takeout or go out anymore because, like the article talks about, money is too tight to reward yourself anymore...
My experience is that there's always a hidden surcharge with DD or Uber eats. Like fries are $3 if you call it in yourself, but are $3.30 or something in an app. A couple years ago I had a $10 off $40 coupon and dash pass from my credit card. Total after fees for pickup was like $55 and just calling it in myself was $45.
Not saying it's impossible to save using them, but good luck.
Yeah the place specific delivery is usually not to bad I mean in particular the internet ones like grubhub. Im sorta aware of the discounts but im fed up with that model. I do wonder if it will work for them long term as im not sure how many folks will do it without the discount whereas uber and airbnb that can sorta compete because they are a tax dodge there is no real tax advantage gurbhub and ilk can lean on to compete with folks just picking it up themselves. I think they are hoping to decimate the pizza and chinese places drivers.
I used to have lunch delivered where I worked through another local company, but the delivery was "free" because of a deal my workplace made with the company (it was actually not free, because everything was marked-up). It was more convenient than driving some place in traffic and being worried about time while out. Usually, I'd just take meals I preprepared to work though.
yeah I was at a place with that. The times I did not bring something I took the opportunity to enjoy walking to a place but it was a downtown job so no driving necessary.
The people in power will soon come to realise we are all just 3 warm meals a day away from anarchy.
What kind of psychopath has three warm meals a day? You cook three times a day? Or do you eat out three times a day? I believe the latter to be more crazy.
I do share the intended sentiment however.
Breakfast: Coffee and toast Lunch: Toasted sandwich or reheated dinner leftovers Dinner: Something home-cooked
As someone who usually prefers a hot meal over a cold one, that's my standard fare. It's not a crazy effort.
I cook 3 times a day. It's fucking exhausting and I've come to hate my kitchen. But it keeps everyone fed and happy for a fair price.
I also work from home though and mostly cook on company time.
I'm more worried that they know
I'd they do they clearly overestimate their safety.
And butter locked up
What about shaving items and deodorant?
....yup done already.
Odd to think if you can't afford food now you could afford it later plus interest.
First off, I fully agree with you. But how people are lured in is that there is no interest if you pay on time, so it's advertised as interest-free. But obviously the business model is built upon people not paying on time, and as such one should calculate that cost into it…
This works when talking about seadoos and lifted trucks. When it is food the title of "fool" goes from lendee to lender.
...and the additional food then.
I get 5% cash back for using ny credit card to buy groceries. I use the card and pay it off every payday. Free money.
Those benefits are usually your own money + the money of those who fail to make payments since merchants have to increase their prices to compensate for credit card fees.
They indirectly steal from you, launder the funds and present it back to you as a "benefit", but only if you've been a good boy.
This is a similar principle to modern loyalty programs. In exchange for your personal information and your eyes (advertising), you get to pay slightly above the regular price and accumulate ✨points✨ while other schmos get a jacked up price that pays for your points (or the value of your points is built into the price of the items you purchase).
Not exactly. Card benefits come directly from fees charged to merchants, which is why processing fees vary wildly from card to card and the merchant has no clue what their fees are going to be per transaction (though this is starting to change with services like Stripe charging a flat percentage+ transaction fee). Interest and the like are pure profit for CC companies. You as the cardholder receive the benefits even if you carry a balance.
The people who subsidize rewards are customers paying cash/debit.
The prices are higher to cover the Visa Infinite or whatever premium card merchant fees.
Right after I got my house I had to basically live on bread and water for the first couple years as the tax situation devolved and resolved. Not above doing it again to keep my home
This is how I feel. Growing up ramen was too expansive. I have no problem going back there.
I worry about my kids but thankfully my sons favorite meals are my home cooked rice and beans and my homemade veggie stromboli that I can get down to ~$2 for a giant Stromboli if I make my own cheese sauce for it.
I love rice and beans too. Also spaghetti
Putting food on layaway?
So much winning /s
And people have an issue with dumpster diving. Fools
The only time I've used these was on Black Friday, and ultimately, it was worth it.
But they are 100% predatory.
I grow a lot of my food in a fairly small space, and it's quite easy. There's also a community garden a few blocks away. Everything else is avoiding corporate supermarkets as they seem to have the worst quality at the highest price for meats, baked goods, etc. So I'm rarely doing a grocery shop and notice my money goes much slower.
If you're struggling to get groceries, assess your receipt and look for alternatives. Reducing spend while increasing quality is definitely a thing with staples.
Steve Carrell: HEY... THERES A BUBBLE!
As a person of developing countries who have prefer in cash, i still don't get the idea yet.
Is it like credit card? Credit card existed in my country but only rich pop in offfice use it.
More Americans get stupid with desperation
never understood this. If you can't buy it now will you be able to.pay later?! You need groceries every month
If you're living paycheck to paycheck, it takes one unexpected expense and suddenly you're hustling to get food on the table. The cycle then repeats itself.
I've been there. It's expensive to be poor with little to no way out.
You need a car to work. Cars are expensive. You get a old clunker.
You work and live check to check. Maybe $50 or $100 left over after taxes and expenses. Not really possible to have an emergency fund.
A single injury or car breaking down and you need to borrow money. From family, friends or some shitty company.
Oh and then your yearly raise comes around at $1/hr that barely covers your rent increasing let alone inflation.
I understand the need but you just push the snowball hoping for a miracle.
Cost of living is too high, put it on credit.
Your alternative is starve now.
Either way, this is about to get a lot more bonkers in roughly the next 30 to 60 days as Just In Time delivery... kinda just, stops working, and grocery stores will have to both raise prices and ration items per customer per week to deal with shortages and try to minimize in-store injuries and deaths.
Go look up a compilations of black friday shopping stampedes.
Imagine that, but for groceries, every time a grocery store restocks.... for the forseeable future.
That's probably part of why the capital class want fascism. Because if that happens in a democracy, they would have their capital expropriated.
Can you elaborate on this? Just In Time delivery? Is this a US thing?
Edit: okay, I looked it up and I understand it now. The ripple effect already happened though when big box stores told Trump to fuck off with the tariffs, because their shelves are empty.
If you are at the point where you are buying grocoeries in installments, who cares about paying it back. What good is a good credit score if you cant afford to buy anything anyways. Just survive any way you can at that point
Some people don't have the option, and end up relying on these services. It's similar to the payday loan trap. Being poor is expensive.
Then you've never been poor and living paycheck to paycheck.
There are times when it's either find a loan from someone or not eat for two weeks because something in your house broke and that's unfortunately a reality for many Americans including myself at one time.
I understnd financing. The problem is financing groceries. So you cover the unexpected and finance groceries. what about next month?! Unless you get a way to make more money to cover the difference you going ro have to finance again plus interests
edit: I'm sorry, I'm not american and I was trying to understand some decision. I get it
Capitalism isn't paying enough for workers to live off of and they system is papering over it with debt. Problem is debt isn't a sustainable way to do it since it has to get paid back. We've been seeing sketchier and sketchier things happening in finance and when these loans don't get repaid (and this article is a sign we're getting close) the whole house or cards comes tumbling down
The idea is that if you are throwing a party or buying something big, then this will be useful for those purchases.
It isn't a good idea, though.
Probably should not be throwing parties when they are poor