Expert: Use Of Paylater Is Actually Interesting, But Can Also Reduce Purchasing Power Then Day

Illustration. (Photo: Doc. Antara)

JAKARTA - Economy expert at Mulawarman University (Unmul) Hairul Anwar highlighted the phenomenon of using paylater services or buying now pay later, and provide solutions so that people can use paylaters wisely.

"What needs to be realized is that when people use paylaters today and pay next month, they actually reduce their purchasing power next month," said Hairul Anwar, in Samarinda, East Kalimantan, quoted from Antara, Monday, October 14.

He explained that the paylater has an attraction because of the ease of access and the fast process. This encourages an increase in transactions of up to 50 percent. Unfortunately, this convenience often makes people ignore the consequences in the future.

Hairul Anwar analogized that the use of paylaters should be prioritized for productive needs, not consumptive.

"If you buy rice or basic necessities, it should not be postponed. But if you buy a new cellphone, you should think about it again," he also said.

Furthermore, Hairul emphasized the importance of financial governance and cash flow in utilizing paylaters. The public needs to understand well the various facilities offered by paylaters so as not to suffer losses.

He also emphasized the importance of openness and financial planning in the family.

"Discussed with family, how much income, how much should be allocated for basic needs, savings, and so on," he suggested.

Hairul explained the difference in the pattern of using paylaters between those who earn a fixed and non-permanent income. Those who earn a fixed income, according to him, tend to be more regular because they already know how much their monthly income and expenses are.

"Meanwhile, those who earn do not stay, sometimes many sometimes few, so they need to be more careful in managing finances," he said.

Hairul emphasized the importance of recording income and expenses as a first step in financial management. Recording revenue and expenditure is an important management function in planning finances.

"Cats for every expenditure, both using cash and paylaters. By noting, we can see where our money is allocated," he said.

Deputy Director of Behavior Supervision for Financial, Education, and Consumer Protection Business Actors of OJK Kaltim Yulianta explained the benefits and risks of using paylaters so that people can use them wisely.

"Paylaters are a payment mechanism that allows consumers to delay payments. Payments can be made simultaneously or in installments," he said again.

According to him, technological developments and the rise of market workshops encourage the emergence of various alternative payments, including paylaters.

"Paylaters provide alternatives for consumers who may not have cash funds or want to pay in installments," he said.

Yulianta highlighted a number of paylater benefits, one of which makes it easier for consumers to shop, especially online. In addition, paylaters can help consumers in managing cash flows, especially for those with limited funds.

"Paylaters can be an entry point to gain credit access from the financial services sector. By having a good credit history in paylaters, consumers can apply for even greater credit," he also said.