Wise To Use Paylater, Can Be More Efficient Tablets! – ClueWorks

Originally Posted by ClueWorks – Remote Worker International

Using Paylater wisely

Using paylater is already part of the millennial lifestyle. There are many interesting promos that we can get by using PayLater. However, this convenience also brings problems if not used wisely.

Actually, how the hell is the wise way to use PayLater? Is it true that using PayLater actually makes us more economical and can save from wasteful attitudes?

Well, before answering the question, you need to first understand the concept of PayLater itself. Basically, the PayLater feature allows you to buy the items you want, but pay for them at a later date.

Like the credit card payment concept, the PayLater feature provides a varied payment tenor, ranging from 30 days even up to 12 months.

The PayLater payment system is excellent because the submission is somewhat easier when compared to credit card submission. For consumers who do not qualify for credit card applications, PayLater can be a solution.

Typically, consumers are only required to apply online by sending a photo of their ID card and filling out a form. For the rest, the application will send approval verification in a short time, about one to three business days.

PayLater payments are usually available on their respective e-commerce platforms or marketplaces, so their use is not integrated between platforms.

Well, with all these conveniences, many millennials are interested in using PayLater. Not to mention special promos for Paylater users, which are of course interesting, ranging from cashback, to zero percent installments!

Read also : PayLater payment system facts, know the advantages and risks

PayLater can help you more easily manage your expenses, but it can also be a source of your financial problems.

For that, check out the following tips yuk! In order to be wiser in using PayLater, it can even be more efficient.

Know Your Ability To Pay

Let’s start with this step first. You must firmly set the payment limit that you can make. You can take a maximum of 5% of your monthly income. For example, the maximum limit for paying Paylater installments is 500 thousand rupiah.

By setting the ability limit, you can be wiser in shopping using Paylater. PayLater provider app will inform the payment scheme.

In each month, you can see how many installments and interest you have to pay. Remember, do not exceed the limits of your ability to pay.

Actually, the PayLater feature has its own algorithm, where the amount of credit limit for each person is different. This is influenced by various factors, such as the amount of the user’s income, to the timeliness of paying from the user.

The greater the income, the greater the limit obtained. The more timely you pay the installments, the more confident Paylater provider to add your limit.

If you manage to get an additional installment limit because you always pay on time, remember this point again. No matter how much the limit increases, you should stick to your ability to pay.

Because the amount of limit increases, not necessarily followed by the amount of income increases. This can be a trap if you are complacent with the increase in the limit.

Take advantage of Cashback Promo and 0 installments%

Often PayLater payment system providers hold promos, such as cashback or 0% installments. You can really take advantage of this promo, especially to meet urgent needs.

For example, you need a plane ticket to visit a sick family outside the city. Incidentally there is a cashback promo if paying with PayLater. You can use this opportunity, so the price of the plane ticket you buy can be cheaper because there is cashback.

Or you can also take advantage of the 0% installment promo, meaning you don’t need to pay interest at all. What you pay is really the price of what you buy.

For example, the refrigerator in your house is broken, so you have to buy a new refrigerator. Incidentally in a marketplace there is a 0% installment refrigerator promo with PayLater. You can use the promo to buy your needs.

What you need to pay attention to is the length of the tenor. Typically, 0% installments are only valid for short tenors, for example 30 days to six months.

So you calculate again, whether your ability to pay is in accordance with the price of the goods if divided by the number of tenor months.

Pay Off Immediately, Do Not Delay

If you have decided to use PayLater, do not delay to pay it or pay it off.

Delaying payments will be dangerous, especially if the PayLater payment you use applies installment interest. The more you delay, the more interest you will have to pay.

Generally, the PayLater service provider platform has a reminder feature, which you can receive either via application, email, or phone number. So you don’t forget to pay when it’s due.

Can we Paylater pay off at once so as not to be affected by installment interest? The answer depends on the PayLater feature provider.

Some Paylater feature providers open the option for a lump sum repayment. So if you get windfall sustenance, you can immediately pay it off.

But, there is also a PayLater feature that cannot be repaid at once. If you have agreed to use it, you will only be able to pay according to the due date. So look again at how the payment system PayLater you use.

Using PayLater can bring ease to your transactions. But remember not to get too far, you can be in debt PayLater. Come on, wisely use PayLater!

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