Finding ourselves tempted by flexible repayment options is understandable because we receive constant messages from advertisers that we need the latest clothing, makeup, or possessions to make ourselves worthy and lovable. Marketers use psychology to make us spend our money. Even though they are only a small portion of overall spending, buy now and pay later (BNPL) arrangements are on the rise. By 2025, experts believe they will top $1 trillion in annual gross merchandise volume in the United States.
