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Started By
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More Americans are financing groceries with buy now, pay later loans
Posted on 4/27/25 at 3:26 pm
Posted on 4/27/25 at 3:26 pm
...and more are paying those bills late, survey says
quote:
A Lending Tree survey found 25% of buy now, pay later users are funding grocery purchases with the loans, up from 14% in 2024.
The survey said 41% of respondents said they made a late payment on a BNPL loan in the past year, up from 34% in the year prior.
The figures are the latest evidence that some consumers are having trouble affording essentials such as groceries under the pressure of high prices and interest rates.
19
Posted on 4/27/25 at 3:27 pm to stout
Is it just me or for my entire life is it the same 60ish percent of Americans who live paycheck to paycheck, or have less than $1000 in savings and so on and so on?
Posted on 4/27/25 at 3:31 pm to stout
If there’s a way to go into debt, people will do it. Not all people, but a decent number are just absolutely hooked on debt. We really should be talking about debt in terms of addiction and being a vice like drugs but we don’t because every major consumer facing business make huge profits off of it
Posted on 4/27/25 at 3:32 pm to TigersHuskers
quote:
Is it just me or for my entire life is it the same 60ish percent of Americans who live paycheck to paycheck, or have less than $1000 in savings and so on and so on?
And yet housing is sky high and only going up.
Something is way fricking wrong here.
Posted on 4/27/25 at 3:34 pm to stout
quote:98% Kamala biden voters
A Lending Tree survey found 25% of buy now, pay later users are funding grocery purchases with the loans, up from 14% in 2024.
Posted on 4/27/25 at 3:35 pm to stout
Yikes.
Posted on 4/27/25 at 3:37 pm to forkedintheroad
quote:
Something is way fricking wrong here.
The last 4 years were devastating for our economy.
Elections have consequences
Posted on 4/27/25 at 3:37 pm to Upperdecker
quote:
but a decent number are just absolutely hooked on debt.
Yup. At my job we make good money but that doesn't stop people from going deep into debt by financing everything.
Like right now most of our OT is gone and you got some guys completely freaking out because they can make their truck payments without OT. Kinda sad really. What's the point in having a ton of shite like a camper, big pickup, new SUV for the wife and a bunch of toys if you have to work 500 hours of OT per year.
Posted on 4/27/25 at 3:38 pm to stout
I spent $300 on groceries this week. Saved $150 BOGO. But have enough food for a couple of months. Retired with no children. Still working to help my niece.
Posted on 4/27/25 at 3:39 pm to stout
It's 2037.
The last tranches of collateralized Walmart and DoorDash derivatives have experienced unprecedented defaults, prompting security debtors to panic, selling their bundled grocery loans at great face value loss. Yields skyrocket. Your 401k and brokerage fall 40% in 2 quarters, due to overexposure to the once high-yielding CDOs (collateralized delivery obligations).
The water wars begin.
The last tranches of collateralized Walmart and DoorDash derivatives have experienced unprecedented defaults, prompting security debtors to panic, selling their bundled grocery loans at great face value loss. Yields skyrocket. Your 401k and brokerage fall 40% in 2 quarters, due to overexposure to the once high-yielding CDOs (collateralized delivery obligations).
The water wars begin.
Posted on 4/27/25 at 3:41 pm to stout
High prices and interest rates have nothing to do with stupid financial decisions.
Posted on 4/27/25 at 3:45 pm to Beessnax
quote:
High prices and interest rates have nothing to do with stupid financial decisions.
You do realize that some people are just simply poor right?
Posted on 4/27/25 at 3:50 pm to TaderSalad
quote:
The last 4 years were devastating for our economy.
Elections have consequences
This has been looming for far longer than that.
But yeah, keep on blaming all problems on same boogy men.
Posted on 4/27/25 at 4:00 pm to forkedintheroad
quote:
Something is way fricking wrong here.
I've been a staunch capitalist my entire life. Having a free private sector full of competition to drive innovation up and costs down...
So then, why is everything more expensive across the board?
Why are Iphones $1000 instead of $100?
Why have the cost of important drugs like insulin increased in price by 100% since 2012?
Why is baby formula $50 instead of $5?
Why is a ford 150 $50,000?
Competition and innovation aren't driving down costs. No one else willing to raise an eyebrow to this?
This post was edited on 4/27/25 at 4:02 pm
Posted on 4/27/25 at 4:01 pm to stout
I’d eat cheap arse ramen before I’d finance my groceries. That’s insane.
Posted on 4/27/25 at 4:04 pm to stout
We are a long way from hurting. $70-$90k vehicles all over the road. $15 beers at events and everyone’s got one in their hand. Kids riding $10k golf carts to the neighborhood pool. People paying someone to cut their grass. Car wash subscriptions. I can list 100 more things.
We have a long way to go before I feel sympathy for anyone.
We have a long way to go before I feel sympathy for anyone.
This post was edited on 4/27/25 at 4:05 pm
Posted on 4/27/25 at 4:07 pm to BabyTac
quote:
We have a long way to go before I feel sympathy for anyone.
Yea, but at least they are financing their purchases instead of committing return fraud on fishing poles at Academy like you
Posted on 4/27/25 at 4:08 pm to TigersHuskers
quote:
Like right now most of our OT is gone and you got some guys completely freaking out because they can make their truck payments without OT.
quote:
What's the point in having a ton of shite like a camper, big pickup, new SUV for the wife and a bunch of toys if you have to work 500 hours of OT per year.
So operators
The pickup gets used to show off. The rest is mostly for the few days a year they ain’t working
Posted on 4/27/25 at 4:18 pm to Powerman
quote:
You do realize that some people are just simply poor right?
And there are programs to help people that struggle to buy groceries simply due to financial hardships. Chances are, many of these people taking out loans make too much money for those programs and simply have a spending issue
Posted on 4/27/25 at 4:22 pm to Weekend Warrior79
quote:
And there are programs to help people that struggle to buy groceries simply due to financial hardships
I'd wager that the majority of the folks financing their groceries make too much money to qualify for much of anything. A household pulling in 80-100k in a HCOL area is probably barely squeaking by, but far surpass AGI limits for any kind of assistance.
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