The overspending trap of Buy Now, Pay Later plans | Money Talks podcast

From big-ticket items to daily expenses, Buy Now, Pay Later payment plans have gained traction among consumers for its convenience and flexibility. But do consumers fully understand the risks involved? Associate Professor Pearpilai Jutasompakorn from the Singapore Institute of Technology breaks down the pros and cons of the scheme with Andrea Heng in this week’s episode of Money Talks. 00:00 Intro 00:14 Growing BNPL trend in Singapore 03:18 Why BNPL is so popular now 04:59 The trap of paying credit with credit 07:00 How you fall into the trap of overspending 11:36 The hidden risks of missed payments 12:44 Could BNPL affect your future credit score? 15:29 When is BNPL actually a good idea? Subscribe to our channel here: https://cna.asia/youtubesub Visit our website: https://cna.asia Download our app: https://cna.asia/app Get our editors' picks of stories via chat apps: Telegram: https://cna.asia/telegram WhatsApp: https://cna.asia/whatsapp Follow us on these platforms: https://www.facebook.com/channelnewsasia https://www.instagram.com/channelnewsasia https://www.tiktok.com/@channelnewsasia