Is Buy Now, Pay Later another lifestyle subsidy? Getty Images
Is Buy Now, Pay Later another lifestyle subsidy?
Getty ImagesBuy Now, Pay Later (BNPL) loans have become one of the go-to ways to get access to credit fast. Companies like Klarna, Affirm, and Afterpay make buying big purchases relatively easy by allowing people to pay in installments over time. But some Americans have taken to using this method for everyday items like groceries, and when BNPL service providers like Klarna partners with DoorDash so customers can “eat now, pay later”… it feels like a debt trap waiting to happen. And that’s just scratching the surface.
This… is Money Troubles.
And for the past few weeks we’ve been looking into the ways everyday people are trying to make ends meet… and what it says about how our culture views labor, basic needs, or even our favorite pastimes.
In this final episode, NPR Life Kit’s Andee Tagle and author Malcolm Harris join Brittany to get into why Buy Now, Pay Later has become so popular and how ‘cheap credit’ may be another lifestyle subsidy for a new generation.
This episode was produced by Alexis Williams. It was edited by Neena Pathak. Our Supervising Producer is Barton Girdwood. Our Executive Producer is Veralyn Williams. Our VP of Programming is Yolanda Sangweni.