The Buy Now, Pay Later Holiday Trap
Whether you're on Social Security or working your very first job, retailers are making it easier for you to make immediate purchases. It's called buy now, pay later (BNPL), and it lets you purchase goods or services now and pay over time, typically in installments.
Thanks to tariffs and inflation, making purchases via BNPL has become a way of life for millions, with BNPL spending increasing nearly 21% between June 2024 and June 2025. It's no surprise that BNPL has become so popular, given how it works.
The BNPL application process is quick and easy, and you only need a 25% down payment. The remainder is typically repaid during a six-week period, with most BNPL providers charging no interest.
Source Fool.com
