Many people easily fall into the vortex of spending
Without having to pay the full amount immediately, the "buy in advance, pay later" form is becoming a familiar choice for many individuals when shopping online, from phones, clothes, cosmetics to trips or courses.
Working in the media field in Hanoi, Ms. Le Nhat Quynh (24 years old) said that she has many times chosen to pay "buy in advance, pay later" because she feels financially lighter.
At first, I only thought I would pay a few hundred thousand each month, so it was insignificant. But when there were a few applications due, plus incurred expenses, I started to feel pressure," Ms. Quynh shared.
Many people are also attracted by messages such as "0 VND prepayment", "small payment", "no financial pressure" or a series of accompanying discounts. Owning a product immediately makes it easier for many people to deposit money faster without carefully considering their actual needs.
Similarly, Mr. Nguyen Quang Cuong (26 years old, freelancer - freelancer) shared that he once encountered difficulties when his income suddenly decreased but still had to pay the deferred payments that had been registered before.
When buying, I thought paying a little each month would be enough. But when work stagnates, income is erratic, and all expenses are due, which puts a lot of pressure on me," Mr. Cuong said.
According to records, the "pay later" mentality makes many people tend to spend more comfortably, especially when platforms continuously launch promotions, discount codes and stimulus offers.
Consider carefully before choosing to buy first and pay later
Talking to Lao Dong Newspaper, Mr. Nguyen Quang Huy - CEO of the Faculty of Finance - Banking, Nguyen Trai University - said that the "buy in advance, pay later" form has become attractive to users because of the easy access feeling, less initial payment pressure and many preferential programs.
The essence of this form is still a financial obligation to be paid in the future. If not controlled well, users are very likely to fall into a situation of overspending," the expert analyzed.
According to experts, many people are often drawn into the FOMO psychology (fear of missing out), the feeling of "buying at a bargain price" or being attracted by the accompanying incentive ecosystem, from product discounts, service promotions to many other related utilities. This makes shopping decisions faster and sometimes emotional.
Users need to carefully calculate the total actual cost, incurred fees and future payment ability instead of just looking at the small amount paid in each period. In particular, if payment is delayed or overdue, users may face penalties, high interest rates or affect credit history, causing difficulties for future financial needs," Mr. Huy said.
Experts recommend that before using the "pre-order-pay" form, users should carefully consider the actual value and the necessity of the item instead of making decisions based on emotions or the psychology of chasing after incentives.
The golden rule is to build a clear financial plan annually, quarterly, monthly, or weekly to control cash flow, and to use revenue-expenditure management applications to track personal budgets. In addition, users need to allocate essential expenses, unusual arising expenses, and maintain accumulation, ideally about 30% of monthly income to hedge against risks," the expert said.
In addition, for fast fashion or fast consumption items, buyers should review their actual needs, avoid shopping according to trends or temporary offers.
A simple way is to apply the rule of waiting 30 minutes before confirming payment to re-evaluate the financial situation, the necessity of the product and the impact of the expense on the budget. If you don't buy that item, will life really be affected, that is the question users should ask themselves before spending money," Mr. Nguyen Quang Huy emphasized.
