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Yuck

April 26th, 2015 at 07:40 am

It's worse than I thought. When I ordered the bed I also ordered SG some clothes. That will get added on in Dec at 14.85 /wk. (1544.40 total )

The cot and mattress were 186 and that's due by 29/4/16 so I could get that paid off. If I don't it's 3.49 per week or 362.96 total.

So,

4517.18 including Bnpl
- 1907.36 Bnpl total

= 2609.82

Posted in Uncategorized | 5 Comments »

5 Responses to “Yuck ”

  1. VS_ozgirl Says:
    April 26th, 2015 at 12:09 pm 1430050160
    1430050160

    Is there any way to cancel an option to make any further purchases? That way you just pay off what you owe, and if you need to make a purchase in the future you are forced to choose a financially better option?

  2. creditcardfree Says:
    April 26th, 2015 at 01:12 pm 1430053973
    1430053973

    It is so good to know exactly where you stand. Great job getting clear on your financial picture. I like the idea of cancelling the ability to make future purchases. Is the interest rate you are paying disclosed on these? Paying anything 'weekly' sends up red flags to me as very high interest rates.

  3. scottish girl Says:
    April 26th, 2015 at 01:28 pm 1430054885
    1430054885

    I'm not sure if I can. I just checked: 39.9%

  4. snafu Says:
    April 26th, 2015 at 04:05 pm 1430064342
    1430064342

    Thanks for updating your sidebar. I'm shocked that these entities can charge 39% interest when savings rates are under 1%. I hope you and DH can work together to rid yourselves of these vultures. Paying # 363 for a bed priced at # 186 is ghastly. These buy now, pay later schemes only work when you rigidly divide the original sum borrowed by the number of pays to original completion date and make every single payment as soon as pays hit your account.

    Do you know your Credit Score? That number is important because interest rates are mostly based on those. The lower the score, the higher the rates but b n p l charges everyone ridiiculously high rates. It also affects things like insurance, and employment opportunities now that employers are checking credit scores. This is likely a good time to also ask the interest rate you're being charged on CCs.

  5. Kiki Says:
    April 26th, 2015 at 04:47 pm 1430066831
    1430066831

    Do you have a list of which bnpl item is due to be paid off, or added on, and when?

    Knowing all this information now, what is your plan to pay it off?
    (Not goal as these often aren't met, I know, but plan now that you are back working and to full pay?)

    We will support your plan and you!

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