Americans have long had the problem of spending money that they do not have. This has come in many different ways, shapes, and forms over time. One of the most popular nowadays is the buy now, pay later programs. In a similar way to credit cards, you get to defer payment on purchases to the future, but via a down payment and installment plan. This is just another type of debt waiting to take your cash flow! Today, we will discuss:
1. What buy now, pay later (BNPL) is
2. Why BNPL is a bad idea
3. How to avoid buy now, pay later
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(Please keep in mind that I am not a financial advisor. I create these videos for educational purposes only. You and only you are responsible for the investment decisions that you make.)