Buy now pay later3

Free Money - With Sleepless Nights at No Extra Cost

It’s like ‘free money,’ the guy says before the bargain-hunting couple high-five each other and then go on a spending spree, buying things with no money down. 

Pretty soon, the BNPL payment reminders are dinging her phone, followed by late payment fees and, ultimately, debt collectors. 

It’s a scary thought if you’ve ever been in the situation, and the middle-of-the-night anxiety depicted is very real and very unpleasant. 

Staying Out of Debt is Easy

The fix for this one is as simple as it gets: Think before you buy now, pay later. 

Do you really need it? Can you even afford it? The answer is clear: if you don’t have the money to buy it now, you shouldn’t be buying it at all. 

It can happen to the best of us, though, so if you’re currently in financial difficulty and struggling to make payments, make sure to get in contact with Mabs.ie for free, confidential financial advice. 

Next - the problem of 'money muling' and how to spot it.