Somehow We’ll All Pay For This Later

Was out at my local shopping centre this last week, beating the hoards and getting my Xmas shopping done early.

I model my physical shopping experiences on the Commando playbook.

Get in … get the job done … and get out as quickly as possible.

(I try to keep the yelling and shouting down to a minimum, though).

But once my mission was accomplished and I was heading back to the car, i noticed something that took a few seconds to sink in.

Nearly every retailer I passed had the “buy now, pay later” sign plastered to its window.

Now look … I get it.

From a retail and business perspective, these arrangements have their place.

And in due course everyone will have a better view on whether the benefits outweigh the disadvantages.

There have been plenty of articles addressing these payment arrangements already so I can’t really add anything to the mix.

But I couldn’t help feeling the signs I saw were a euphemism for a much bigger picture.

• The situation we’re currently facing with our economy

• The situation where the BIS has warned Reserve Banks around the world to prepare for various monetary interventions

• Spending years obtaining a degree and incurring debt which may or may not pay-off

Or maybe it’s because with everything we do in life, there’s a cost to pay.

We either pay for it at the time we take a certain action or we end-up paying double down the track somewhere to fix it.

I’m sure we’ve all seen and experienced this in its various guises in our lives.

But I can’t help but think we’ll be seeing the negative impact of the “buy-now-pay-later” business/economic/social model more in future.

Want to talk about different ways to improve your business performance?

Then take a detour to www.sculptaccountants.com.au/contact/ and arrange a time for us to chat.

_______________________________________________________________________________________________________________

Want to become part of our ‘Sculpt” community and be notified of new articles and special benefits? Then join here.

Until next time.

Please Note: These articles are provided for education purposes only and should not be construed as specific advice. Always seek professional advice in relation to your personal and business circumstances.