'Buy Now, Pay Later' Services Can Actually Lead To More Debt

The video explores the evolution of installment payments, focusing on the rise of 'buy now, pay later' services like Afterpay and Klarna. It highlights the lack of regulation in this sector, the demographic trends of its users, and the psychological appeal of these services. Concerns about financial risks and the need for regulation are discussed, along with potential future changes. The video advises consumers to be cautious and aware of their spending habits.

What are some of the consumer protections that are lacking in buy now, pay later services?

What impact does the instant gratification of buy now, pay later services have on consumer behavior?

What steps are being taken to regulate buy now, pay later services?