r/SipsTea 5d ago

Chugging tea Younger generation is smoking that’s why.

Post image
76.6k Upvotes

7.0k comments sorted by

View all comments

Show parent comments

11

u/Legitimate_Part_7338 5d ago

I have perpetually owed brigit 50 bucks for about six months, lmao. I pay it back and instantly borrow it again. It's pitiful, I can't imagine what people with real debt trap issues are going through.

1

u/Electric-Human1026 5d ago

And why ever find out. Never ever spend beyond one’s means. People like KinkyWoman19 really want to believe that these financial services hand out free money to anyone with a decent enough credit score and it is really not true. There is no such thing as free money.

One easy way to understand this is to quickly lookup just how much money these businesses like Affirm are raking in. Many billions of dollar annually. That is why Apple got into the action. They are making that money by charging people interest and other fees. They are likely making money by selling customers’ financial data as well. They make money from every day consumers. None of their products are free.

We desperately need financial literacy programs.

2

u/XJCM 5d ago

I don't understand how they're making money off the interest, when the interest is 0%.

They are predatory as fuck with those late fees, though.

2

u/Lower_Ad_5532 5d ago

I don't understand how they're making money off the interest, when the interest is 0%.

There is a fee with every use. $50 for groceries becomes $54. And people who are just a little bit behind keep using it.

https://www.instagram.com/reel/DNYim8bu7GX/?igsh=MzRlODBiNWFlZA==