What things should not be borrowed in installments: expert advice

Alina MilsentLife
Active shopping

Life is becoming too expensive. Prices are growing steadily, unlike salaries. A typical Saturday trip to the grocery store can drain your entire bank account. The rising cost of living has increased the demand for installment purchases.

But by purchasing goods in installments, you can end up causing even more financial damage by getting caught up in a cycle of debt and constant interest charges. With this in mind, financial experts warn that you shouldn't buy certain things in installments. The details were revealed by Best Life Online.

Fitness equipment

After the New Year holidays, the annual quest to lose weight by summer traditionally begins. Many people consider purchasing fitness equipment in installments. Robert Farrington, a financial expert and founder of The College Investor, warns against such a decision. Farrington also advises buyers to consider buying used treadmills or ellipticals.


Clothes should not be taken in installments. As an exception, you can only buy expensive, high-quality shoes or a warm down jacket in this way - you will definitely wear them for more than one season. When it comes to impulse purchases, such as trendy seasonal items, it's better to think twice. Fashion changes quickly, and by the time you pay off an expensive jacket in installments, it may already be out of style.

Luxury items

An even worse idea would be to buy luxury items, such as clothing, accessories, or jewelry in installments. This can lead to unnecessary debt for items that have no long-term value or no return on investment. It's better to save and pay in full to avoid the added stress of paying in installments for possibly unnecessary items.

Inexpensive furniture

Brian Quigley, a financial expert and founder of Beacon Lending, says he doesn't encourage taking out an installment loan for inexpensive furniture. According to Quigley, this will help buyers "avoid being charged interest on non-essential purchases."

Inexpensive pieces of furniture are usually affordable enough to be bought right away, making installment plans less financially beneficial. It is better to budget for these purchases in the monthly budget and pay in full, preventing unnecessary interest costs and promoting responsible spending within your means.


You should be careful when it comes to buying expensive cars in installments. Depreciable assets, fuel and maintenance costs should be taken into account. Sherman Standberry, a certified public accountant and managing partner at My CPA Coach, said: "Anything that loses value over time should ideally not be purchased on an installment basis. The model can depreciate faster than you can pay for it."


When the newest iPhone comes out, many people want to have the latest model at all costs, even if it takes a long time to pay it off. According to Melanie Masson, a finance expert, you shouldn't chase the latest. If your phone is in good condition, you can continue to use it. And you should choose a new smartphone based on its characteristics and your own financial capabilities.


As tempting as it may be, financial experts don't recommend paying for a vacation in installments. It's better to save a little bit throughout the year. Of course, emotions are priceless, but then you'll have to figure out how to pay for your vacation when you get home.

Impulsive purchases

Impulsive purchases often lead to unnecessary debt. Payments in installments should be approached carefully and deliberately.

"Waiting to make a purchase until you can afford to pay for it in full helps to make sure that it is what you really need or want," experts say.

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