Friday Flight - Important Investing Deadlines, Appliance Shortages, and Privacy Labels #294

Online Shopping

The shift towards online shopping for big-ticket items like furniture has become more prevalent. Joel Larsgaard and Matt Altmix discuss how consumers are now more comfortable purchasing items like mattresses and sofas online, thanks to generous return policies and competitive pricing 1. Consumer Reports highlights top online furniture retailers such as Room and Board, Costco, and Amazon, emphasizing the importance of reading reviews and understanding return policies before making a purchase 1.

Pay close attention to the return policy, too, because getting stuck with an uncomfortable or not good-looking sofa, because returns are a nightmare, is just not a good place to be.

--- Joel Larsgaard

Additionally, buying online often results in better prices and the convenience of avoiding in-store commitments 1.

   

Payment Plans

Buy-now-pay-later (BNPL) payment schemes are increasingly popular but come with significant risks. Joel Larsgaard and Matt Altmix caution against using installment plans for purchases, noting that they often lead to overspending and potential penalties for missed payments 2. Companies like Afterpay and Affirm make it tempting to split payments, but this can result in a debt hangover and turn consumers into "payment buyers" who don't consider the total cost 2.

Many people are actually spending more because they can put off payments until further down the road.

--- Joel Larsgaard

They advise sticking to traditional payment methods to avoid these pitfalls and maintain better financial health 2.