Summary
Gen Z is increasingly relying on “buy now, pay later” (BNPL) services for holiday shopping, with spending projected to rise 11.4% this year, totaling $18.5 billion.
These services appeal to younger consumers with limited credit histories but can lead to overextension, as they lack centralized reporting and encourage overspending.
Experts warn of accumulating fees, particularly when BNPL plans are tied to credit cards.
With inflation and rising credit card debt already burdening Gen Z, consumer advocates caution that these services may worsen financial instability despite their convenience.
The label on the on the guy being explode talks about paying your staff a living wage. Basically, it’s a dunk on arguments that raising the minimum wage would loose jobs.
And it had absolutely nothing to do with what I was talking about besides the term “financial literacy.”
If you don’t think it’s sensible to teach young people to avoid predatory lenders before it’s too late, just say so. Otherwise this is irrelevant.