Why you should think twice about using buy now, pay later to cover holiday expenses

If you shop online, you may have noticed an option to split purchases into multiple payments using something called buy now, pay later (BNPL). BNPL services essentially provide short-term loans, allowing you to finance purchases in four or more interest-free installments — often without fees. As the holiday shopping season ramps up, BNPL services may seem like an attractive option to break up expenses into manageable payments and ease your holiday budget. In fact, half of consumers plan to use BNPL as a f ...