Are you overspending with Klarna, Affirm and Afterpay? A BNPL reality check

Buy now, pay later (BNPL) apps are surging in popularity—especially among younger shoppers. Services like Klarna, Affirm, and Afterpay let users split purchases into smaller, manageable payments, making it easier than ever to buy everything from burritos and eyelash extensions to leather jackets and concert tickets.

But some financial experts say these convenient apps are cause for concern. With Americans now carrying a staggering $1.18 trillion in credit card debt, ‘buy now, pay later’ might feed into our tendency to overspend. 

On this episode of Studio 2, the rise of BNPL, the traps hidden in our consumer culture, and what you can do to avoid impulse purchases and buyer’s remorse in an uncertain economy.

Guests:

Wendy De La Rosa, assistant professor of marketing at The Wharton School

Michele Singletary – personal finance columnist for The Washington Post