Is Buy Now, Pay Later Often a Debt Trap?

"Buy Now, Pay Later Often a Debt Trap" by Herb Weisbaum.

Despite stretched household budgets and concerns about the economy, American shoppers are expected to spend more—and take on more debt—this holiday season. Consumer spending on gifts, food, decorations, and other seasonal items is expected to hit a record of $902 per person, $25 more than last year, according to the National Retail Federation’s annual survey.

The number of shoppers using buy now, pay later (BNPL) financing continues to grow. Adobe predicts BNPL will hit a record $9.5 billion during the month of November and it forecasts that Cyber Monday 2024 will be BNPL’s largest day ever, at $993 million.
The financial technology companies offering these point-of-sale loans (and they are loans) have a marketing message that appeals to cash-strapped families who don’t have credit or have maxed out their cards. They promote BNPL as “a smarter way” to pay than with credit cards, one that offers “flexibility” and “no surprises.” Approval is instant, and there’s no hard credit check.

When used wisely, these loans can help consumers deal with cash flow problems without turning to more expensive credit, such as payday loans or high-interest credit cards. When they aren’t used wisely, they can turn into high-cost loans with serious consequences.

More Info at: https://www.checkbook.org/boston-area/buy-now-pay-later/?

Are some Stores Return Policies justified?

"2024 Return Policy Survey: SOME RETAILERS TIGHTEN RETURNS."

Some mainstream retail chains tweaked their return policies this year by shortening the return window for regular or holiday purchases or by adding other restrictions according to Consumer World's 21st annual return policy survey. Target, Kohl's, Amazon, Walmart, Best Buy and Macy's were among the stores making some changes.

Though some are shorter this year, most stores continue to offer extended holiday return periods whereby gifts purchased as early as October first, such as in Walmart's case, can be returned until mid- to late-January, considerably beyond the normal deadline. What hasn't changed is the complexity of stores' return policies that are designed in part to reduce return fraud which amounts to over $100 billion a year according to the National Retail Federation. The combined policies of the 11 chains surveyed amount to over 35,000 words and 78 pages of fine print. Amazon's return policy alone is 6,300 words and scattered over multiple webpages. 

Read more Info at: https://www.consumerworld.org/pages/returns.htm

Which Federal Holiday is your favorite?

We all love one Holiday or more. It's great to get some time-off from work, school, or otherwise.

Select your choice from below and answer.

(A) The New Year's Day Holiday

(B) The Christmas Day Holiday

(C) The 4th of July Independence Day Holiday.

(D) The Martin Luther King, Jr Holiday

(E) The Memorial Day Holiday

(F)  The Labor Day Holiday

(G)  The Thanksgiving Holiday

(H) The Veterans Day Holiday

And see "Overview."
Federal law (5 U.S.C. 6103) establishes the public holidays listed in these pages for Federal employees. Please note that most Federal employees work on a Monday through Friday schedule. For these employees, when a holiday falls on a nonworkday -- Saturday or Sunday -- the holiday usually is observed on Monday (if the holiday falls on Sunday) or Friday (if the holiday falls on Saturday).
Information from: https://www.opm.gov/policy-data-oversight/pay-leave/federal-holidays/

So why do so many people worldwide still enjoy Christmas?

Here is some information discovered online...

" Many people enjoy Christmas for a variety of reasons, including..."

    Tradition: Christmas is steeped in traditions that vary by culture and family. These rituals create a sense of continuity and belonging.

    Family and Togetherness: The holiday often brings families together, fostering connections and creating cherished memories.

    Festive Atmosphere: The decorations, lights, and music contribute to a joyful and festive environment that many find uplifting.

    Giving and Generosity: The spirit of giving, exemplified through gift exchanges and charitable acts, encourages kindness and compassion.

    Religious Significance: For many, Christmas holds deep religious meaning, celebrating the birth of Jesus Christ and embodying themes of hope, love, and redemption.

    Time Off: The holiday season often coincides with time off work or school, allowing people to relax and enjoy leisure activities.

    Culinary Traditions: Special foods and treats associated with Christmas can evoke nostalgia and enhance the celebratory mood.

    Childhood Memories: Many adults fondly remember the magic of Christmas during their childhood, which can influence their enjoyment of the holiday as adults.

Overall, Christmas combines cultural, emotional, and social elements that resonate with many people, making it a beloved holiday.

Information from:
https://www.quora.com/Why-do-a-lot-of-people-like-Christmas-so-much