What is wrong with the get stuff pay later philosophy?

Answer by  bluesun (96)

This idea of paying for things later or "deferred compensation" is great as long as it is guaranteed. If a person can guarantee payment and be held accountable for payment, then deferred compensation works quite well. If the person cannot pay after receiving goods, that is when the problem arises. That is why we have credit cards and debt collectors.

Answer by  beelady (334)

The problem is we tend to get more stuff than we can reasonably pay for later. As later we are also paying for the stuff we need at that time. It tends to lead to people living beyond their means, and an eternal sense of optimism, even in the face of crisis.

Answer by  souldolphindream (835)

I am the kind of person that if I can't pay cash for it,then I dont get it. I dont want to be in debt.