Flight Club

Based on the title alone, you already know where I stand when it comes to this topic, but nonetheless, let me proceed. Just in case you didn’t hear the latest sneaker related news over the weekend, Flight Club is now giving us the “opportunity” to finance sneakers. We’re not talking about financing a house, a car or even new furniture for your new apartment. We’re talking about financing a pair of sneakers!

Flight Club
Flight Club

Let me tell you how this whole financing thing with Flight Club works. Let’s say you want to buy a brand new pair of the adidas Yeezy Boost 750 Boost for their price of $2,250. You “need” these shoes bad, and I mean really bad! But your money ain’t right or your money’s kind of tight and you don’t have the sufficient funds to drop 2 and a quarter stacks on a pair of Yeezy 750s. What do you do now? Well, with Flight Club’s new financing program you will be able to finance (borrowing money from a credit company and paying them back the money with interest) these shoes by paying a portion of the total cost on a monthly basis until you finish paying off the entirety of the shoe, with 10% to 30% interest included, of course. A quick use of my calculator tells me that 30% of 2,250 is $675. So now those overpriced Yeezy 750s that you desperately needed aren’t going to cost you $2,250, after financing the sneakers you’re looking at around $2,925 for the pair of sneakers, and that’s not even including the taxes of the sneakers which easily puts it well over $3,000.

Sure, it may sound pretty sweet at first: “I can get the sneaker I’ve always wanted and I don’t have to pay for all of it right away if I finance it”. But when all is said and done you’re going to be paying a whole lot more that what you had initially thought you were going to pay. Who do you think is going to be the target audience that is going to use this financing options? Does paying interest on a pair of already overpriced sneakers really sound like such a good idea to the common grown adult (don’t answer that!).

Are you really going to put your credit in jeopardy for a pair of Yeezys? If the answer is yes, I suggest that you reevaluate your priorities in life.

It’s obvious that this financing strategy is marketed towards the younger crowd. I’m talking about the ones that are fresh out of high school, age group 17-21. These are the primary candidates that they’re looking at. Why? Because this is the group that usually doesn’t have a house or family to take care of. What I failed to mention is that this is also the age group that makes a lot of mistakes in life. Instinct/unnecessary purchases are some of those mistakes and lessons learned that we all went through at a young age. I see a lot of young adults messing their credit up simply because they want to obtain something that will depreciate in value the moment you put them on your feet. To put it in simple terms,

If you have to finance a pair of sneakers in order to be able to buy them, you really shouldn’t be buying those sneakers to begin with.

We live in a generation where people really don’t like to wait or work for what they want. If they want something that’s out of their realm, they will find a way to get it, even if it means taking a short cut. Financing a pair of sneakers that you can’t afford is definitely considered a short cut, not the good kind either. With that same amount of money that you’re using to pay off your sneakers each month, you could be using it towards leasing or buying a new car! A car! I know we all love sneakers, that why I work for Kicks on Fire and that’s why you’re reading it, but it still baffles me how a lot of people are willing to pay a large sum of money (with interest) for a pair of shoes, but yet have a hard time utilizing that money for other expenses in their life that are far more important or beneficial to them.

The point of this feature is not for me to tell you what to do. You are the only person who decides what to do with your money (or lack of) and what you spend it on (or finance it on), but in all seriousness, you should really think long and hard before you even consider financing your sneakers. Sneakers are dope, there’s no doubt about that, but we have to draw the line somewhere, right? Think it out, thoroughly. Ask yourself, is this really worth it? Should I really consider financing a pair of $3,000 dollar sneakers and pay them off for $350 a month for 12 months!? Ugh, simply reading that makes me feel sick in my stomach.  I’m sure you will do the right thing.

the atlantic
the atlantic