The “Buy Now, Pay Later” option offered by companies like Affirm, Afterpay, and Karma pop up everywhere. Although a tempting option that seemingly offers more flexibility and allows you to spread out your payments, you may want to think carefully the next time you opt in.⁠ ⁠ Here are 3 things to keep in mind: ⁠ ⁠ 1. Experts are sounding the alarm over BNPLs and the dangers that come with them, including credit hits from missed payments, late fees, and more.⁠ 2. The late fees tend to be much higher than what credit cards charge, so there is more at stake. ⁠ 3. They make it easy to impulse buy items that you can’t actually afford. The BNPL option gives a perception that something is more affordable to you, but that is not the reality.⁠ ⁠ If you do choose to use this payment option, make sure that you’ve reviewed your budget, have a payment strategy in place, and are absolutely sure you can make all of the payments on time. ⁠ ⁠ To read more about the pitfalls of Buy Now, Pay Later and what financial experts are saying about it, head to the link in our bio.⁠ ⁠ ⁠ #financialindependence #fire #moneymoves #nextadvisor #investing #personalfinance #stockmarket #cryptocurrency #savings #savingsfund #buynowpaylater #personalsavings #sidehustle #sidehustler #financialliteracy #stocks #studentloans #firemovement #sidehustletips #money #invest #investingtips #business #workfromhome #personalfinancetips #sidehustleideas #moneyideas #trading #investor #stockcrash ⁠