Money Minute - Buy Now, Pay Later – Friend or Foe?

What do you really know about buy now, pay later – friend or foe?

In this Money Minute, we’re diving into buy now, pay later – friend or foe?—a big topic made simple. Let’s break it down in five fast facts.

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What do you really know about buy now, pay later.

In this Money Minute, we’re diving into buy now, pay later—a big topic made simple. Let’s break it down in five fast facts.

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Multiple BNPL accounts increase the risk of overspending because repayments are staggered.

BNPL is debt: missed payments can incur fees and affect your ability to get credit.

Only use if the purchase is in your budget today and you could pay it in full now.

Turn off ‘automatic approvals’ and spending limits; set alerts before each instalment.

Prioritise clearing BNPL before taking on new credit; seek help if repayments are rolling over.

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Money Minute – Buy Now, Pay Later – Friend or Foe?

What do you really know about buy now, pay later – friend or foe?

In this Money Minute, we’re diving into buy now, pay later – friend or foe?—a big topic made simple. Let’s break it down in five fast facts.