Alternate Links: Native Voice One |
NAC
Paying to have a sandwich delivered to your door or even replacing a broken appliance is as easy as clicking an app and worrying about the bill later.
Apps like Klarna and Afterpay allow consumers to pay installments for goods they can have in hand right away. A new report by Lending Tree finds 4 in 10 Americans now use pay later loans for groceries, an increase from the previous year fueled partly in a rise in prices.
Financial literacy experts warn of the potential for consumers to quickly lose control of spending with such apps, but even for consumers using conventional methods, keeping on top of increasing costs for food and gas means more disciplined spending, at least in the short term. Tune into Native America Calling to go over ideas for keeping a lid on personal finances.
Also, hear about the uncertain future of a federal Native financial grant and loan program that is slated for elimination with President Donald Trump’s 2027 budget proposal. The $28 million dollar program aids Native communities with homeownership, credit building, and entrepreneurship, but the administration says it’s promoting “cultural Marxism.”
