Cost of buying now, paying later

The growing popularity of Buy Now, Pay Later (BNPL) services has transformed the way people shop, especially among young consumers. While these platforms offer convenience and instant gratification, their darker side is becoming harder to ignore.

BNPL schemes often encourage overspending by making purchases feel more affordable, but the delayed payment structure can lead to debt accumulation and financial stress.

Unlike traditional credit cards, many BNPL services lack thorough credit checks or clear terms, making it easy for users to fall into a cycle of missed payments and late fees.

Many consumers, especially students and low-income earners, are unaware of the long-term consequences. What seems like a small, manageable payment can quickly spiral into a burden that affects credit scores and savings.

There must be stronger regulation, transparency in terms, and financial education to protect users. Convenience should not come at the cost of financial well-being. Responsible usage and awareness are key to avoiding regret in the age of instant spending.

Rahim Hossain, Student

Bachelor of Business Administration

North South University

rahim.hossain01@northsouth.edu