As grocery prices soar and family budgets tighten, many Americans are turning to "buy now, pay later" (BNPL) services offered by major retailers like Amazon, Etsy, Walmart, and Wayfair. This payment option allows consumers to make purchases and pay for them in installments, which can seem like a practical solution for those who may not have credit or prefer to manage their cash flow without incurring interest. Consumer expert Kevin Brasler highlights that while BNPL can be enticing, it often comes with hidden costs, such as late fees, which can catch users off guard. Research from the Consumer Protection Bureau indicates that many people use BNPL multiple times a year, leading to potential financial pitfalls if they lose track of their payments. Brasler advises consumers to pay in full when possible, stay aware of their financial obligations, and read the fine print to avoid unexpected charges.
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