Biggerpockets Money Podcast

“Buy now, pay later” companies have been around for decades, but not in the form they take today. You may have noticed that when you check out from an online store, a little prompt asks you if you want to purchase your goods for just “four easy payments of…” It seems like a good deal, doesn’t it? You can buy the same goods, for less, today, with no interest payments! Before you add those shoes to your cart, think twice before selecting the “buy now, pay later” option. Alexi Horowitz-Ghazi, NPR reporter and host of Planet Money, was interested in how this type of interest-free internet shopping is affecting consumers. Through his research, he found numerous examples of online shoppers overspending, getting into debt, and not knowing their total purchase price. The ease of paying just a fourth of a product’s price and getting it delivered in days became too much for many consumers to resist. And now, they’re paying the price. If you don’t want to fall prey to this type of split-up pricing, you’ll want to hear w