Remember lay-by?
If you're from my generation, you'll remember that when you wanted something you couldn't afford, you paid it off bit by bit...
… but you didn't get to take it home until it was fully paid off.
These days, we have "buy now, pay later".
This gives you instant gratification with the goods in hand immediately.
And while it might seem like a harmless middle ground between not having cash and not wanting to use a credit card...
The reality is far more concerning than most people realise.
Recent research shows that 43% of buy now, pay later users made late payments in the last year alone.
Even more alarming…
14% of users are now relying on these loans to pay for groceries and other necessities.
In this eye-opening episode of the Women of Wealth Podcast, I'm pulling back the curtain on the buy now, pay later trap that's ensnaring millions of consumers.
Here's what you'll discover in this episode:
Remember, these services might feel different from traditional debt, but make no mistake.
You are borrowing money that you'll have to pay back…
… often with serious consequences if you don't.
Don't let the convenience fool you into a financial trap that could impact your future borrowing capacity and financial freedom.
Ready to learn how to protect yourself and make smarter financial decisions?
Disclaimer: This podcast is intended for educational purposes only and should not be construed as investment advice or a recommendation. Any financial strategies or examples discussed are provided in the context of the theme being explored, and the views expressed are those of the presenter at the time of the recording. Please seek advice from a qualified professional before making any investment decisions.
