Buy Now, Pay Later Is Growing Fast—But Is It Helping or Hurting?
A Growing Trend
I just read this article from PYMNTS:
How ‘Pay Later’ Options Are Redefining Consumer Spending
and it really got me thinking.
“Buy Now, Pay Later” (BNPL) is growing like crazy—now a $175 billion market. That’s 88x more than it was six years ago.¹
At first, BNPL seemed like something only younger people or those with lower incomes used. But $100K+ earners are using it, too. They say it helps them manage cash flow or take advantage of good deals.
Still, we can’t ignore what else is happening:
51% of users are using BNPL because they have to, not because they want to.²
Many are now using it for groceries, gas, bills—even rent.³
41% of users missed at least one BNPL payment last year—up from 34% the year before.⁴
And as one expert said, “A $20 burrito can cost you $70” if you’re late.⁵
This tells us a bigger story: People are struggling, and BNPL is becoming a short-term fix for deeper financial gaps.
So What Can We Do?
I believe in being prepared. BNPL is a tool, but it shouldn’t control you.
Here are 5 simple ways to stay ahead:
1. Make a money plan.
Don’t use BNPL unless you know you can pay it off—on time, no stress.
2. Treat it like real debt.
Even if it says “0% interest,” it’s still a bill. Ask yourself: Would I borrow money for this?
3. Automate and set reminders.
Use your phone or an app so you never miss a payment.
4. Think ahead.
Ask: Will I still care about this in 3 months? If not, maybe skip it.
5. Talk about it.
Many people feel alone in their money stress. Sharing tips and being honest can help everyone get stronger.
BNPL can work if you’re in control of it—not the other way around.
Read the full article:
https://www.pymnts.com/news/payments-innovation/2025/how-pay-later-options-are-redefining-consumer-spending-an-expert-look-at-whats-next/
Let’s build money habits that create freedom, not fear.
👇 How do you stay intentional with your money?
📚 References
1. PYMNTS, “How ‘Pay Later’ Options Are Redefining Consumer Spending.”
https://www.pymnts.com/news/payments-innovation/2025/how-pay-later-options-are-redefining-consumer-spending-an-expert-look-at-whats-next/
2. “More than half of BNPL users say they use it out of necessity rather than convenience.” (PYMNTS)
3. Bloomberg News: Americans Are Using Buy Now, Pay Later for Groceries and Gas
https://www.bloomberg.com/news/articles/2023-07-06/buy-now-pay-later-use-expands-to-groceries-and-gas
4. LendingTree: More BNPL Users Are Missing Payments Than Ever Before
https://www.lendingtree.com/credit-cards/study/bnpl-user-survey/
5. CNBC: “A $20 burrito could cost you $70”
https://www.cnbc.com/2023/07/07/how-buy-now-pay-later-services-can-turn-a-20-burrito-into-70.html
