As people in the United States struggle with rising costs, they are increasingly turning to “buy now, pay later” loans for essentials such as rent and groceries.

Stacey Cowley, a business reporter for The New York Times, explains the draw and the hidden risks of the loan model.

Guest: Stacy Cowley, a business reporter at The New York Times, with a focus on consumer finance.

Background reading:

“Buy now, pay later” lenders have pitched loans for needs like electricity and rent.
They got to live a life of luxury. Then came the fine print.

Photo: Amir Hamja for The New York Times

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‘Buy Now, Pay Later’: A New Wave of Consumer Debt

The Daily

‘Buy Now, Pay Later’: A New Wave of Consumer Debt