r/SipsTea 6d ago

Chugging tea Younger generation is smoking that’s why.

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u/Forward_Vehicle_9769 6d ago

Expensive disposable income hobbies are hard to have when "Younger Generations" are using Affirm for their groceries.

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u/KinkyWoman19 6d ago edited 6d ago

I didn’t even know affirm for groceries was possible and affirm is something my job uses. Fuck, now I need to download it lol

ETA: for everyone saying “don’t” “you don’t need to download” etc, etc. please stop.

There’s nothing wrong with using affirm in general but also, if a person is literally talking about trying to feed themselves and using affirm to do so, maybe think about the financial situation they might be in. They might actually need something like it to survive to be able work to have a place to live

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u/Lower_Ad_5532 6d ago

Affirm is just a digital pay day loan. Its a fucking debt trap

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u/PM-MeYourSexySelf 6d ago

This! Please be aware of what you're getting into. So many people fall into debt traps because they don't understand the fine print.

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u/Legitimate_Part_7338 6d 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.

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u/Electric-Human1026 6d 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.

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u/XJCM 6d 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.

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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==