Burrito Now, Pay Later

Post by bluedino » Mon, May 12, 2025, 11:06 AM UTC

windward wrote: post #216

spicyusername wrote: post #100

One reason is that someone’s or a company’s income doesn’t always align perfectly with when they want to buy things. When we're talking about financing the construction of a new downtown office tower, a new apartment complex, or the unexpected maintenance of your business's whole auto fleet, I can absolutely see the argument that credit is a mechanism of greasing the wheels of the economy and allowing things to happe…

That's funny, because food it my primary example for credit in everyday life and is probably the first place you've used it. Whenever you go to a restaurant and pay after eating, you're using credit. Credit is more effective and more ancient as a medium of exchange than money is.

Post by bluedino » Mon, May 12, 2025, 11:11 AM UTC

DonsDiscountGas wrote: post #98

kweingar wrote: post #54

I keep hearing people express dismay that people are financing their lunch, sneakers, or concert tickets. But this has been the norm for a while, no? I can't remember the last time I didn't utilize credit at a restaurant or retail store. If you use credit cards, it doesn't make sense to reflexively admonish people for using BNPL for everyday purchases. To be sure, BNPL is in many ways a predatory innovation. But it i…

Most people pay off a credit card in full every month so it's really just about the convenience. BNPL is similar in fact, most purchases are paid off in installments over 30 days with no interest or late fees charged. As the article covers the merchant pays a slightly higher fee in exchange for slightly better terms than a CC, and customers buy slightly more then they would have otherwise.

Post by zipy124 » Mon, May 12, 2025, 11:14 AM UTC

InsideOutSanta wrote: post #223

ChadNauseam wrote: post #123

Earlier quoted context omitted.

Food is a basic human need, paying someone to make a burrito for you and then hand deliver it to your house is not. There is no shortage of food in america. In brazil, many people don’t eat meat because it’s too expensive, and get the vast majority of their calories from beans and rice. you can also do this in america, but almost no one does outside of college students because food is cheap enough relative to wages t…

> But it sounds very patronizing to say the “there’s a lot of poor people who don’t understand credit, so we need to prevent them from having access to any so they don’t get the chance to screw themselves”, so I understand why no one does. OTOH, the article literally says that "data [shows] that those with lower incomes, lower education, and worse credit (redundancies here) are more likely to use BNPL." Most consumer…

Post by mattmanser » Mon, May 12, 2025, 11:23 AM UTC

bluedino wrote: post #239

ChadNauseam wrote: post #123

Earlier quoted context omitted.

Food is a basic human need, paying someone to make a burrito for you and then hand deliver it to your house is not. There is no shortage of food in america. In brazil, many people don’t eat meat because it’s too expensive, and get the vast majority of their calories from beans and rice. you can also do this in america, but almost no one does outside of college students because food is cheap enough relative to wages t…

> In brazil, many people don’t eat meat because it’s too expensive During the 2008 recession, I remember a woman who called in to one of the financial advice radio shows (Dave Ramsey?). She was talking about how her husband has been laid off and they were eating beans, tortillas and rice, and how i simply thought, "so you're eating....mexican food?" That said, it's crazy how a burrito is $12 now and a two taco, beans…

Post by mathgeek » Mon, May 12, 2025, 11:58 AM UTC

bluedino wrote: post #239

ChadNauseam wrote: post #123

Earlier quoted context omitted.

Food is a basic human need, paying someone to make a burrito for you and then hand deliver it to your house is not. There is no shortage of food in america. In brazil, many people don’t eat meat because it’s too expensive, and get the vast majority of their calories from beans and rice. you can also do this in america, but almost no one does outside of college students because food is cheap enough relative to wages t…

> In brazil, many people don’t eat meat because it’s too expensive During the 2008 recession, I remember a woman who called in to one of the financial advice radio shows (Dave Ramsey?). She was talking about how her husband has been laid off and they were eating beans, tortillas and rice, and how i simply thought, "so you're eating....mexican food?" That said, it's crazy how a burrito is $12 now and a two taco, beans…