Let’s talk the ‘Buy Now Pay Later’ Trap.

Video Description

Would you finance a $15 meal? || Visit http://strawberry.me/cara to start coaching with a $50 credit! 🎥 More about this video: Let’s talk about Buy Now, Pay Later (BNPL). 💳 On the surface, it sounds like a great way to afford things without paying upfront. But the reality? It’s designed to keep you spending more while making debt feel invisible. In this video, we’re breaking down how "buy now pay later" works, why it’s so tempting, and how small purchases can quietly snowball into big debt. We’ll go over the psychology behind BNPL, the hidden dangers, and how to use it without falling into a financial trap. Have you ever used BNPL? Let me know in the comments! Want more videos on money, media, and intentional living? Be sure to subscribe for more video essays! 🔍 Resources mentioned: - BNPL stats: https://www.consumerfinance.gov/about-us/newsroom/cfpb-research-reveals-heavy-buy-now-pay-later-use-among-borrowers-with-high-credit-balances-and-multiple-pay-in-four-loans/ - Paycheck to paycheck use of BNPL: https://www.pymnts.com/buy-now-pay-later/2024/paycheck-consumers-more-than-twice-likely-bnpl/ - 26 year old with $4k debt: https://nypost.com/2023/08/30/woman-says-buy-now-pay-later-schemes-left-her-thousands-in-debt/ - Average BNPL transaction size: https://capitaloneshopping.com/research/buy-now-pay-later-statistics/ - LendingTree stats on BNPL not paying back: https://www.lendingtree.com/personal/bnpl-late-survey/ - CBS News on Buy Now Pay Later: https://www.cbsnews.com/news/buy-now-pay-later-loans-interest-rate-fees-tips-what-to-know/ 💌 Want to support the channel? Here are a few ways! - ☕ Buy me a coffee: https://www.buymeacoffee.com/cara.nicole - Join my Patreon: https://patreon.com/caranicole - 📊 Budgeting spreadsheets & digital tools: https://www.etsy.com/shop/FinancialFreedomGirl - 📨 Subscribe to my newsletter: https://thepopfinancereport.substack.com/ 🎥 Check out some of my other videos! 🎥 - 'Let's talk being 'House Poor'': https://www.youtube.com/watch?v=eF1S7inuT38&t=5s - 'Let's talk being 'Car Poor'": https://www.youtube.com/watch?v=EYei1daW7Es&t=20s ⏰ Time Stamps: 00:00 the rise of BNPL 02:10 Strawberry.me 04:09 feeding impulse shopping 05:28 "feels like free money!" 07:20 the GOOD of BNPL 09:35 the BAD of BNPL 13:33 a predatory system? 14:47 BNPL the smart way! 📊 Keywords for some sweet, sweet metadata: Buy Now Pay Later, BNPL, Klarna, Afterpay, Affirm, PayPal Pay in 4, personal finance, budgeting, debt, overspending, credit cards, financial literacy, instant gratification, money traps, behavioral economics, overconsumption, consumer psychology, financial mistakes, investing, credit score, video essay, money management, TikTok shopping, Klarna debt, payment plans, shopping addiction #videoessay #buynowpaylater #personalfinance