Buy now pay later1

The dreaded buy now pay later trap and how to avoid it

Everyone gets tempted now and again to put something on the ‘long finger’, but is it really worth it? 

Video 2 of the excellent UCC series on financial literacy takes a look at the idea of Buy Now Pay Later or BNPL. Although not like the scams covered in the last topic , it can sometimes feel like it when you see the interest rates and terms of the loan. 

Video #2 Buy Now And Pay Later

The premise is simple but all too familiar. You see something online you’ve wanted since forever but you don’t have enough money on hand to buy it now. 

‘Luckily’ you don’t need to save up because you can have the thing you want, in this case a coat for €150. That’s a lot if you’re clued into the bargains in Penney’s or, god forbid, you’ve been using Shein to get your online deals.