MANAGING YOUR FINANCES

BUY NOW PAY LATER DEALS:

Be very careful with deals like this, if you can't afford the item now, will you be able to pay for it when the interest free period ends?
Remember after the free period the interest could go to around 30%. You will never get out of debt that way.

ALTERNATIVE IS GET THE DEAL BUT MAKE SURE YOU DO THE FOLLOWING:

-work out the term - minus one month, then divide by the purchase price include fees.
-pay that amount each month.
-don't take any notice of the account that comes in with a far less payment.If you do the sums on that amount you will never be able to pay it off in the time.
-when you pay the amount you worked out, to your surprise the next account will come in --- in credit. IGNORE THAT. continue to pay the amount you have worked out.
-then and only then will you have your purchase paid off in the free term period.
Buyer be aware.