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Ayush Maurya

AI Pioneer ‱ 2m

Do you think BNPL - Buy Now Pay Later is damaging our habits of buying and saving ?

Mohammed Younoos Rahman M

Hey I am on Medial ‱ 2m

Buy Now, Pay Later (BNPL) services can indeed lead to some unhealthy financial habits if not managed responsibly. While they offer convenience, they can encourage overspending and the accumulation of debt without immediate consequences. The ease of deferred payments may make consumers more likely to purchase items they don’t truly need or can’t afford, which can lead to financial strain later. It's important for consumers to be aware of the potential risks and ensure they only use BNPL services when they are confident they can make the payments on time. Developing mindful spending habits and prioritizing long-term financial health is key to avoiding the pitfalls of BNPL.

0 replies1 like

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