Buy Now Pay Later putting Americans in a Debt Trap

‘Buy Now, Pay Later’ has gained significant traction among young Americans, especially millennials and Generation Z. Its user-friendly interfaces, quick approval processes, and promise of easy, interest-free spending make it particularly appealing to this demographic.

The Student Debt Burden

Young Americans are already grappling with the weight of student loans. With the rising cost of education, many are burdened by substantial debt, affecting their ability to save, invest, and build financial stability. ‘Buy Now, Pay Later’ can exacerbate this issue by introducing additional financial commitments.

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