To think you shouldn’t be able to finance a Domino’s?

[JCFJW]

mobile.twitter.com/TerribleFinance/status/1454111428139528194

I’ve also seen the same company advertising finance for Asda pizzas, literally.

AIBU to think this sets a terrible precedent? I can easily see students etc quickly racking up the debt from the service. Rather than learning how to cook cheaply from scratch some will just use this.

Finance of course does have its place for many things such as cars and appliances. But for a fucking pizza? I can just about accept maybe financing for a Domino’s (for example your child’s birthday falls just before payday and they want pizza with their friends and you’re skint but don’t want them to miss out) but I find the option to finance a pizza from Asda especially tragic.

And no, it’s not me being a snob. I’m completely skint. That’s why it bothers me because I think people will end up racking up the debt quickly with it.

[quote MyDcAreMarvel]**@PivotPivotPivottt* I am on a low income paid weekly so it's easier for me to pay £10 a fortnight rather than £40 upfront.* but that’s not logical. Why not just keep £10 fir four weeks then buy a coat for £40 or less with more options available like eBay, charity shops, markets, shops that don’t accept BNPL.[/quote]
Because sometimes I see something online and I want it then I don't want to wait 4 weeks (also these places are fortnightly payments so it would actually be £5 over 8 weeks). Sometimes as a low income single parent I just want nice stuff for myself and children and I don't want to have to buy something second hand when I have the option of getting something nice and new and a bit of a luxury to me that I otherwise wouldn't buy because I can't always spend £40 on myself.

These companies are very helpful to me its nice to be able to have new stuff or treat my children for a small sum every 2 weeks. I don't have credit cards, over drafts, anything like that. I don't see anything wrong in what I'm doing.

@liveforsummer

May - august people are probably putting money away for school uniform instead. If it's interest free though there isn't really any difference between paying the £10 each week or putting it away. For me I have the money come out on a Monday when my tax credits go on then I have the item and have no choice but to manage on what's left until it's paid off. If I try to save there is always something and it never actually gets saved. I'm sure it's nice to be in a position where you can easily put away £10 pw but read some of the other threads on here about life in poverty and hopefully you might begin to understand 🙄

Also this.

@BunNcheese - I pay for everything online using a credit card. That includes online takeaways - does that mean I have poor money management too?

Of course not. As always, these things can mean that people are taken advantage of but the same goes for millions of other things out there. If people want to spread the cost of their monthly takeaway (or whatever) that should be their choice.

As PP have said, it may also be easier for students or large groups. One person "pays", the others all transfer their share, and by the time the payments are due, the payee has enough in their account to cover the costs.

YABU. If people want pizza they should be able to have it. People need food to survive and they deserve a treat now and then.

You do know that borrowing money doesn't generally result in an overall increase the amount of stuff you can afford to buy? That in fact, assuming a non-zero interest rate, the opposite is true?

If you are in favour of people maximising their lifetime pizza consumption, you should be against borrowing to buy pizza, because then money that would have gone on interest can go on pizza.

Yep I know students who could get in serious debt with this. And others.

The problem with this sort of borrowing is that it could very easily spiral into debt due to the ease and availability of credit. I don't think it's comparable to eg a holiday because that's a large purchase. Generally where you are putting relatively small amounts on pay weekly credit like this they will very quickly stack up. It won't just be once, you will likely come back for more and more.

I think it's different to putting aside the same amount each month before buying eg. A coat in winter. The difference is that with saving you always have the option of changing priorities or amounts if for example you are given a coat or find one in a charity shop. If you are in debt for something you have already used / eaten / etc then you are throwing money away after the fact. Psychologically it is much more motivating and satisfying over a longer period to save up and purchase (delayed gratification) rather than the impulse of £50 in pizzas that you are then in debt over several weeks.

It's always easier to take money off the poor and financially illiterate.

@MaskingForIt

YABU. If people want pizza they should be able to have it. People need food to survive and they deserve a treat now and then.

You are joking right? I mean seriously, you think it’s a good thing that already struggling people get into debt, for a fucking pizza!

I use zilch. No interest, splits payments and you get rewards if you pay it all at once which is mostly why I use it!
So yes I use it for takeaways for the 5% back but I don't split the payments
It's good for bigger purchases, if something breaks a week before pay day, if you use it carefully

The problem with this sort of borrowing is that it could very easily spiral into debt due to the ease and availability of credit. I don't think it's comparable to eg a holiday because that's a large purchase. Generally where you are putting relatively small amounts on pay weekly credit like this they will very quickly stack up. It won't just be once, you will likely come back for more and more.

Its really no different. Going into debt for non-essentials is always unwise, whether its holidays or consumer electronics or Xmas shopping. Pizza takes a biscuit.

It is basically credit cards and when you get into debt it’s very hard to get out of. It’s too easy and too available.

@Clementineapples

It is basically credit cards and when you get into debt it’s very hard to get out of. It’s too easy and too available.

No interest though or late fees

I agree, credit/finance should be there for essentials, not luxuries. Takeaways are a luxury, especially Domino's pizzas as they are one of the most expensive takeaways you can get.

Takeaways are a luxury

Domino's a luxury? Expensive indulgence - yes. But very far away from luxury.

Credit is for those who don’t earn enough to live within their means. 😜

This is how I use it. I don't split payments (except the one where I hadn't pressed pay in one!)
Forgot my purse at the chemist so paid with it (I have Apple Pay enabled with it)
I can use it to get the 5% rewards and also go via Quidco so that's why I do it

Except there is no interest, no late payment fees and you can only have 3 outstanding purchases at one time. Credit balance starts off at £80 and gradually increases once you have paid off an order. My current limit is £140 I can't spend any more than that and once I have 3 purchases on the go I can't take out any more. Even if the 3 separate purchases only came to say £50 you still can't make any more until you've paid one off.

It's funny people saying it's the younger generation and people in the olden days only had what they could afford.

How many of your grandparents in the 60s/70's had a telly? How many of those people got the telly through radio rentals or similar? People paid weekly rental for their TV because they we so expensive to buy, the only difference being they paid and paid and paid (and actually ended up pay far more than the TV was actually worth) This was seen as totally normal

@nancy75

It's funny people saying it's the younger generation and people in the olden days only had what they could afford.

How many of your grandparents in the 60s/70's had a telly? How many of those people got the telly through radio rentals or similar? People paid weekly rental for their TV because they we so expensive to buy, the only difference being they paid and paid and paid (and actually ended up pay far more than the TV was actually worth) This was seen as totally normal

My grandparents did - but one of the reasons was that if it broke, it would be repaired/replaced straight away at no extra cost.

My parents owned their television - if it malfunctioned (something that happened more often in those days than now) it could take weeks for it to be repaired!

Yes TV repairs were very expensive and unlike modern TVs were far less reliable. Its easy to criticise when you don't understand the context.

Our student son makes his own: we invested in a bread maker for him. They’re fantastic, so much better than take out.

Yes my grandparents had TVs , VCRs and stereos on rental too. They were very frugal and thrifty otherwise. I think it was the novelty of being able to get a brand new one regularly, it was probably their only indulgence.

@CatsArePeople

Takeaways are a luxury

Domino's a luxury? Expensive indulgence - yes. But very far away from luxury.

Cambridge dictionary definition of luxury: great comfort, especially as provided by expensive and beautiful things; something expensive that is pleasant to have but is not necessary; something that gives you a lot of pleasure but cannot be done often

@julieca

Yes TV repairs were very expensive and unlike modern TVs were far less reliable. Its easy to criticise when you don't understand the context.

I wasn't being critical, I was pointing out that it's not just the instagram generation that use/used credit.

I know TVs were unreliable and expensive, however most people that rented their TV did end up paying far more than it would have cost them to buy and replace in the same time period - my own grandparent being one of those people

Domino's a luxury? confused Expensive indulgence - yes. But very far away from luxury.

Cambridge dictionary definition of luxury: great comfort, especially as provided by expensive and beautiful things; something expensive that is pleasant to have but is not necessary; something that gives you a lot of pleasure but cannot be done often

Yes - what is a luxury if it's not an 'expensive indulgence'?