This NPR Life Kit podcast episode explores Buy Now Pay Later (BNPL) loans, discussing their appeal and risks. The interview covers reasons for BNPL popularity (easy access to credit, convenience, interest-free options), how BNPL companies profit (retailer commissions and targeted in-app shopping), and potential downsides (missed payments, debt spirals, lack of credit history building). The podcast advises listeners to read the fine print, consider using only one provider, and be mindful of the psychological aspects of small payments that can lead to overspending. Ultimately, the episode aims to help listeners make informed decisions about using BNPL services, emphasizing the importance of responsible financial behavior.
