The Hidden Cost of Buy Now, pay later

BNPL sounds like a great deal... until it isn't.

Many people see it as an easy way to afford things without paying upfront. But what they don't realize is how quickly it can turn into a debt trap.

Let's break it down!

🛒 BUY NOW, PAY LATER... BUT AT WHAT COST?

Splitting payments into smaller installments feels manageable. But here's the truth:

BNPL isn't free money. It's still a debt, just packaged differently.

Let's take a closer look at the hidden risks

The Illusion of Affordability

💵 Only $30 a month? Can lah!

This is why BNPL feels harmless at first:

👟 New sneakers? $20/month

📱Latest phone? $50/month

🎧Wireless earbuds? $30/month

Separately, the amounts look small. But when BNPL is used again and again, the total monthly commitment quietly snowballs.

And that's where problems start

The Real Cost of BNPL

🛑It's not just 'small payments' it's debt.

BNPL makes people feel like they're spending less when they're actually

spending more.

✦  It encourages buying things that aren't urgent.

✦ Many forget they have multiple BNPL payments running at the same time.

✦ If a payment is late, fees and penalties start kicking in.

It might seem like just another payment option, but it works just like a loan.

When BNPL Becomes a Trap

💸It starts small, but here's how people get stuck:

✦  More BNPL purchases are made over time.

✦  The total monthly BNPL payments become harder to track.

✦  When one payment is missed, late fees start accumulating.

Next thing you know, half of your salary is going

to BNPL bills.

And just like that, BNPL feels less like a convenience

and more like a financial burden.

Financial Freedom > Instant Gratification

A better approach to spending:

✦  If it's not affordable now, reconsider the purchase.

✦  Track all BNPL payments and set reminders for due dates.

✦  Avoid using BNPL for non-essential items.

BNPL is not the problem it's how it's used. Use it wisely, not impulsively.

Think Before You BNPL

Before tapping "Pay Later," ask yourself:

✦  Is this something truly necessary?

✦  Will this affect my budget for important expenses like rent, bills, and savings?

✦  Am I using BNPL because I need it or just because it's available?

What do you think about BNPL? Share your thoughts below!