I’ve almost finished paying off a mattress I got two years ago and since it’ll be paid within the required timeframe, I won’t have paid anything extra vs buying it outright. If something happened though and I couldn’t pay it quick enough, suddenly the total owing starts growing faster than the monthly payments. You could end up in a situation where you’re paying more on interest than the original cost of the thing.
Yup, it’s very expensive to be poor.
I’ve almost finished paying off a mattress I got two years ago and since it’ll be paid within the required timeframe, I won’t have paid anything extra vs buying it outright. If something happened though and I couldn’t pay it quick enough, suddenly the total owing starts growing faster than the monthly payments. You could end up in a situation where you’re paying more on interest than the original cost of the thing.