Part 8/9:
Navigating the BNPL Landscape Responsibly
Given the evident risks associated with BNPL schemes, it is essential for consumers to approach these systems with caution:
Be Mindful of Spending: Treat BNPL as if it were cash, only purchasing what you can afford. Think critically about whether that immediate purchase will have lasting value.
Automate Payments: To combat the risk of late fees, automating payments can help ensure that consumers do not miss due dates.
Practice Delayed Gratification: Instead of immediately utilizing BNPL, saving for larger purchases in advance can ultimately promote healthier financial habits.