In an era of rapidly advancing technology and a burgeoning online marketplace, the way we shop and manage our finances has undergone a significant transformation. Among these changes, Buy Now Pay Later apps have emerged as a popular option, promising convenience, and flexibility to consumers. Platforms like Afterpay, Klarna, Zip, Sezzle, and others offer the tantalizing allure of instant gratification by allowing users to purchase products immediately and pay for them in smaller installments over time. While these apps may seem like a dream come true for those who want to indulge without the immediate financial burden, they come with some hidden dangers. that consumers should be aware of.

The Illusion of Affordability: The primary appeal of Buy Now Pay Now apps is the perception of affordability. By breaking down payments into smaller chunks, these platforms make it easier to purchase items that might be otherwise out of reach. However, this illusion of affordability can lead to impulsive spending and a lack of financial discipline. Consumers might find themselves accumulating debt without fully realizing the extent of their financial commitments.

Increased Spending: Buy Now Pay Now apps encourage consumers to spend more by creating a psychological disconnect between the purchase and its cost. When payments are delayed and broken into smaller amounts, the overall price of an item can become less apparent. This can lead to individuals overspending, as they focus on the immediate satisfaction of the purchase rather than the long-term financial implications.

High Interest Rates and Fees: While Buy Now Pay Now apps often market themselves as interest-free, this is not always the case. Late payments, missed deadlines, or extensions can result in substantial fees and interest charges. In fact, some users may end up paying more in fees than they would have if they had purchased the item upfront with a traditional payment method. These hidden costs can quickly escalate and lead to financial stress.

Impact on Credit Scores: Using Buy Now Pay Now apps may impact your credit score, though not always in the way you’d expect. Some providers conduct credit checks before approving users, and repeated use of these apps can increase your debt-to-income ratio, potentially making it harder to secure loans or credit in the future. Additionally, late payments or defaults can have a negative impact on your credit history, affecting your financial standing for years to come.

Debt Accumulation: Buy Now Pay Now apps can unwittingly push users into a cycle of debt. The ease of signing up and making purchases without an immediate monetary exchange can mask the true extent of financial obligations. Users may accumulate multiple outstanding balances across different apps, leading to a tangled web of debt that can be difficult to untangle.

Financial Overextension: One of the biggest dangers of Buy Now Pay Now apps is the potential for financial overextension. The convenience and ease of making purchases can lead to a lack of awareness regarding one’s overall financial health. Consumers might find themselves juggling various installment payments along with their regular expenses, creating a precarious situation where they struggle to meet all their financial commitments.

Privacy Concerns: Most Buy Now Pay Now apps require users to link their bank accounts or credit cards, raising potential privacy and security concerns. While reputable platforms implement security measures, no system is entirely immune to cyber threats. The risk of personal and financial information being compromised could have far-reaching consequences beyond just the immediate use of these apps.

Normalization of Debt: Perhaps the most insidious danger lies in the normalization of debt. Buy Now Pay Now apps can subtly shift societal attitudes toward accumulating debt for consumables. This can foster a culture of living beyond one’s means, undermining the importance of financial responsibility and long-term planning.

While the allure of instant gratification offered by Buy Now Pay Later apps is undeniable, consumers must be aware of the hidden dangers lurking beneath the surface. The potential for overspending, high fees, credit score damage, and long-term debt accumulation are all serious risks that should not be underestimated. Instead of succumbing to the lure of instant purchases, individuals should consider cultivating healthy financial habits, embracing delayed gratification, and making purchases based on a realistic assessment of their financial well-being.  In the digital age, convenience must not come at the cost of financial security. By understanding the potential pitfalls of Buy Now Pay Now apps, consumers can make informed decisions

I have decided to take four classes this summer.  It’s crazy because I am now registered at three different community colleges in order for me to graduate this year or at least complete my courses. With COVID-19, classes are not as plentiful (in my opinion) and the classes they do have, fill up quickly. At this point, I am over community college and really want to transfer to a four-year university. I am ready to work on my core classes only. The general ed classes have taken my stress level to 10 and it’s just not healthy.  I know it’ll be worth it in the end but right now, it’s messing with my spirit.  On top of not being able to get the classes I need from one college, the schools are conducting virtual classrooms using Zoom.

My Geography class started Monday, June 1.  To date, I have attended two virtual classes.  The hours for the classes are 9:00 a.m. to 10:00 a.m., 11:00 a.m. to 12:00 p.m. and meeting with the professor from 12:15 p.m. to 12:45 p.m.  For two days straight, we have had class from 9:00 a.m. to 1:30 p.m.  The three meetings overlap and the instructor has so much information on the canvas portal that navigating it is very overwhelming.  My counselor recommended him and his classes fill up easily. He has the best reviews so I know I am in good hands as far as learning.  The problem is he is not an online instructor.  He’s definitely not a “Zoom” instructor.  He’s a lecturer and likes to engage with his students.  For this reason, he is struggling to keep the class times within the designated time frames.  Is it his fault, absolutely not.  However, it’s hard.  I have so  much homework to complete by the end of the week that I’m already overwhelmed.

My other three classes start on June 8 and June 22 so at least it will give me time to focus on my Geography class.  I am also taking Social Problems, Statistics and Abnormal Psychology.  I’m not even sure if I will be able to keep up with the course load.  I may have to withdraw and add one to my fall schedule.  I am going to push through at not let it get the best of me.  I don’t think that virtual classrooms are very productive to learning. I feel it’s either all online or classroom setting. Even a hybrid class would be better. Right now I know this is the new normal (at least until the end of 2020).  Good luck to all the students and teachers who are feeling the pressures of virtual classrooms.

The fall semester is almost over.  Only two more weeks before it’s time for finals.  Only six more classes to go and then I’ll have my Associates in Psychology and Sociology and my Certification in Behavioral Science.  I should be jumping for joy.  Don’t get me wrong, I’m happy.  I see a light at the end of the tunnel but at what cost?  I’m physically and mentally drained.  School is fricken hard!  I knew it would be challenging but I had no clue that I would sometimes feel like I was going to have a nervous breakdown.  Seriously! School takes a toll on your mental health.

It can really wear you out and have you doubting so many things.  Should I finish?  Is it worth it?  How many more hours should I study?  Am I going to ace this test?  What am I doing wrong?  It creates so much confusion that you literally find yourself battling with yourself everyday. The amount of pressure the professors put on their students. The amount of pressure parents put on their children is insane.  Don’t get me wrong, a part of me gets it but I’m not sure this is something I could have handled in my early 20’s.  I think by now I would be bat sh$t crazy.

There is a lot to remember. It seems like every teacher has the same deadline.  Why is everything done at the same time? Midterms, finals, assignments, etc.  It is very overwhelming, challenging but rewarding at the same time. I know I’ll get through it and I’ll live.  I’m glad I’ll have a four-week break.  Not sure what classes I really want to take or how many at this point.  I really need to be strategic and make sure I have a good mix of not too hard but also interesting.  Until then, I’m going to do my best and stay in prayer. That’s all I can do!

 
A couple of weeks ago, I attended a workshop for one of my classes.  The workshop was called “Mindset.”  Before attending the workshop, I was very aware of what the word mindset meant but didn’t realize the depths of how this simple word can really change your mood and attitude of how I live my life.  The dictionary defines mindset as “the established set of attitudes held by someone.”  Pretty simple right?  Actually it is so much more to mindset than just this simple definition.  There are two types of mindset; fixed and growth.

Fixed.  “In a fixed mindset, people believe their basic qualities, like their intelligence or talent, are simply fixed traits. They spend their time documenting their intelligence or talent instead of developing them. They also believe that talent alone creates success—without effort. They’re wrong.”

Growth.  “In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work—brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment. Virtually all great people have had these qualities.”

I feel like I have been stuck in a fixed mindset for such a long time.  I’ve always seen myself as an intelligent person.  I am familiar with a lot of “things.” I can engage in most conversations and what I don’t know, I will definitely research.  However, that is as far as I’ve ever taken my mindset.  I give great advice but I’m not sure I always follow it.  A couple of years ago, I made the conscience decision to go back to school and while I was doing pretty good in my classes, I still had a fixed mindset. I say this because I didn’t put as much effort into studying. In my mind, I knew the answers or I could search for them quickly and therefore, I wasn’t putting much effort into my studies. As a student, I was just going through the motions of school and while I was learning, I wasn’t growing as a student.

When I changed my mindset, I not only learned the materials and understood them better, I didn’t regret the process. School is a lot of work and it’s a process. It is more than just doing the assignments and physically showing up in class. You have to mentally sign up as well. I learned that if I am not mentally prepared for this journey, then what’s the point. This is growth for me. I show up and I show out. I no longer sit in the back and hope for the teacher never call on me. I am always raising my hand and asking questions, answering questions and engaging in healthy communication and definitely taking notes.

I’m a bad ass now and I’m a loving it!

It’s been a few months since I’ve written a post.  While I am not into excuses, life got in the way.  One of the reasons I started blogging, I really felt it would help me to release a lot of feelings that I may not always be comfortable with sharing with close friends and/or family.  However, I am not sure why I am comfortable with sharing it with the world.  Maybe it’s because people you don’t know seem to be a little more honest than that ones we do.  People close to you always seem to want everyone to think everything is great when in reality, we are all living in this dog-eat-dog world and doing our best to put on a brave face and survive each and every day.  With so many school shooting, massing shootings, etc, it can be difficult at times.

My son has been home from school for the  summer and he will be going back in a couple of weeks.  While I love having my son home, it can be trying at times.  I can definitely see the change in what type of young man he is developing into.  He is definitely still trying to figure it all out and he believes he’s “grown.”  Until he can’t figure it out, then he calls.  LOL. At any rate, I am very proud of him and the man he is becoming.

I did finish my summer class with a B-. I really should have gotten an “A” but I did procrastinate and because of that, I fell behind.  Once you get behind, it’s hard to catch up.  I did manage to complete the course so I am thankful for that and now fall semester is right around the corner.  I’ve decided to take 3 classes this semester but I would like to add a 4th.  I’m so close to finishing and I really want to move on to university life.  Honestly, I just want to be done with school so I can move on to the next phase of my life.

I had been seriously looking into volunteer work.  I really wanted something that I would be able to use in the future and also gain some experience in the field I am studying.  I am happy to announce, I have been accepted into the CASA training program.  Upon successful completion of the training, passing background check, etc, I will be sworn in and assigned a child to begin working with.  I am excited about this opportunity.  I am seriously considering working with at risk children.  Talk to me again in 4 years, LOL it may change.

Right now, this is where I am in life and I must say I am again finding my inner peace.  I will make sure to blog at least once a week as I feel it does help me to relax.  I love writing and inner peace is about doing things that you love and what makes you happy.

Until we meet again!

This is a really big deal for me. I have never been to the symphony. I am taking Music Appreciation this Winter semester. My instructor sent us an email today giving us a head’s up on what we will be doing for this class. Well, we need to see a symphonic concert by February 11. I am on it. I have decided to go see Scheherazade at the Pacific Symphony in Orange County.

I will definitely keep you posted on the concert. I am ecstatic that I made the choice to go back to school to pursue my Psychology degree. It has been so rewarding and I’m looking forward to you guys following my educational journey.