pay-as-you-go

American  

[pey-uhz-yoo-goh] / ˈpeɪ əz yʊˈgoʊ /

noun

1. the principle or practice of paying for goods and services at the time of purchase, rather than relying on credit.

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adjective

1. of, relating to, or based on such a principle or practice.

   a pay-as-you-go budget.

pay as you go Idioms  

1. Pay for purchases immediately instead of deferring payment. For example, Ruth and Bob had no credit cards; they believed in paying as you go. [First half of 1800s]

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Etymology

Origin of pay-as-you-go

An Americanism dating back to 1830–40

Example Sentences

The main critique of the Social Security program, however, is that it operates on a pay-as-you-go basis, which makes it very vulnerable to demographic shifts.

From MarketWatch

In one of my favorite papers in behavioral economics, Stefano DellaVigna and Ulrike Malmendier looked at gym memberships and found that many people chose expensive monthly contracts rather than paying per visit, then exercised so little that the pay-as-you-go option would have been much cheaper.

From The Wall Street Journal

Half of Gen Z members thought Social Security taxes were saved for them, such as in a personal account or invested in the trust fund, and just 29% knew that what they paid in taxes was used for current retirees in the pay-as-you-go system.

From MarketWatch

The mayor said the increase would mean an off-peak pay-as-you-go Tube fare from Tottenham Court Road in Zone 1 to Edgware in Zone 5 would rise from £3.60 to £3.80.

From BBC

Pay-as-you-go fares on Tube and TfL rail services within Zone 1 only will rise from £2.90 to £3.10 in the peak, and from £2.80 to £3.00 during off-peak and weekends.

From BBC