It’s close to impossible to find a store now that continuously offers affordable products in all its racks. With the economy growing weary of the constant change in the Peso-Dollar exchange rate, some stores are forced to raise the bar on its general price rates. Some shops however stick to the only way they know how, which is increasing its prices as well but at the same time, ensuring its customers and clients that paying still becomes manageable. If you can’t afford it now, maybe you’ll be able to pay in monthly installments instead. The time will come when the customer will be paid in full making it a win-win for both parties. This method won’t make it close to impossible for the stores to sell.
Monthly installments are very popular in many stores or shops that carry credit card payments. Normally, banks in partnership with selected stores allow installments to help out not just the stores to sell but also the customers to afford what they both need and want. Banco De Oro or most popularly regarded as BDO offers installment on a monthly basis in partnership with Lazada Philippines. Lazada is an online shopping mall that offers more than just one type of payment method, BDO installments being one of it. Lazada consistently offers affordable products on its item selections. They have regular sales and very frequent promos on top of its already flexible payment options.
The installment works in many ways. The customer can choose from 5 different modes of monthly payments. They can pay in 3, 6, 12, 18 or 24 months time depending on what they prefer most. This means that the equal payments per month will highly depend on the N months of installment they choose. But to make it not disadvantageous to the side of the online shopping mall, certain requirements must be observed. Firstly, the customer must be a BDO cardholder. And second, the customer must have a purchase no lower than P3,000 to be able to avail of said payment method. This means customers can pay for as low as P125 each month for an item worth P3000.
There are other monthly installments available in other stores, both online and offline. For Bank of the Philippines Islands, they have offered a ‘Buy Now, Pay Later’ promo where customers can buy whatever they like and only have to pay 3 months from day of purchase. This can help customers who have their eyes on limited products offered in just a short amount of time get what they like and not have to worry about it until the bills start coming in a few months.
Filipinos are very inventive when it comes to getting by or surviving in the middle of the poor becoming poorer and rich becoming richer era. But at the end of the day, it’s all about correctly managing expenses and knowing how to allot money. If you can properly do that, then you’re safe for the rest of your life.