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Source:
الوطن
Installment plans vie for wages
An article addressing the phenomenon of installment-based borrowing in society, where "Buy Now, Pay Later" services have become available for purchasing clothing, perfumes, and more, leading to the accumulation of monthly obligations payable from one's salary. Financial advisor Bushra Al-Mubarky indicates that promoting small installment plans may encourage consumers to make repeated purchases, although this is not considered true saving but rather the spreading out of obligations over future periods—especially when buying luxury items. The article clarifies that regular payments do not always guarantee that installments are within the consumer’s capacity. Reviewing the budget, organizing expenses, and reducing unnecessary spending are essential to facing the accumulation of installments and maintaining financial sustainability. It is also crucial that installment options are linked to necessity and the actual ability to pay.
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