Buy Now, Pay Later: 4 Things to Consider Before Make a Purchase

shopping gaded75f05 1920
shopping gaded75f05 1920

Should you buy now and pay later? 

It’s easier than ever, and there are now tons of companies and apps that allow you to spend money quickly without worrying about an immediate hit to your bank account. You may have heard of some of these companies: Affirm and Klarna are among the largest.

During the pandemic, many people were introduced to a new way to ‘leverage’ their spending. Though many people have been warned against using credit cards and their high interest rates, “buy now, pay later” options give you the luxury of getting something today that you technically cannot afford.

You’ve likely seen “buy now, pay later” options all over the internet. It makes it easy to get what you want, fast. But in effect, is it different from using a credit card?

As a financial literacy advocate, I find the entire concept intriguing. On one hand, kudos to marketing people for developing another enticing, yet confusing, way to make a purchase! On the other hand, shame on those people for presenting another enticing, yet confusing, financial literacy conundrum!

While buy now pay later options may be useful for some people, and under certain circumstances, I think it’s best to take a number of things into consideration before putting it to use.

Buy now, pay later: Things to consider

Before the marketing hype of free money blinds you, please do a couple of things for me:

If you have seen the warnings, confirmed the offering is legit, and still want to move forward with your purchase, just understand this tactic of delaying payments is a slippery slope to overspending. If you do not keep close track of all these deferred payments, you will wake up one month and realize that you may not have enough in your account!

Like what you see? Get more content sent directly to your inbox! Sign up for the Money Vehicle Movement Newsletter!

And check out our white paper: “Strategies for Increasing Financial Literacy Rates Among High School and College Students”

More from Money Vehicle:

1 comment

Comments are closed.


FREE Investment in YOUR Greatest Asset

Submit the form and receive a One Hour Certification Course on Credit for FREE

Want to test drive The Money Vehicle Program for yourself? Click here to get the keys to log into the Money Vehicle Platform!

Thank you for contacting our support desk, we have migrated to a new platform to better serve you. In order to properly assist you, please click the email address or send an email to Please ensure to include the following:


  1. Full Contact Information
  2. Details on the issue you are encountering
  3. Best time to contact you in the event a phone call is required.


Thank you,
YMV Support Team

Contact Us