Buy now, pay later (BNPL) services are a hit among Gen Z and millennials, but they come with hidden pitfalls. Amanda Agyapong, a frequent BNPL user, found herself overspending on clothes she rarely wore. Bankrate's survey reveals that 29% of BNPL users spend more than they should, leading to financial regret. With easy credit and no interest, these services lure younger Americans into debt for items they don’t need. Ted Rossman, Bankrate's analyst, warns that focusing on installments rather than total cost can lead to financial trouble.
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