With inflation biting into budgets, consumers are increasingly using buy now, pay later (BNPL) services to manage grocery and takeout bills. Last year, 15 million Americans, including those from low and high-income households, turned to BNPL for food expenses. While this offers a temporary financial reprieve, the trend reflects the broader challenges faced by consumers in an economy with steep food prices. Even those earning above $100,000 a year have felt the pinch, cutting back on nonessentials. With food costs up 22.3% since 2020, BNPL has become a necessary strategy for some families to spread out their payments and cope with the cost-of-living crisis, despite the potential risks and financial implications of deferred payment services.
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