BNPL is helpful but also a trick of the mind for people to think they can afford more than they can normally.
$50 for 12 months is easier to swallow than a sudden $600 purchase. If they do buy it in one go, then people will force themselves to save for some time, when they are only down $50 that months they may take on more borrowing that adds up beyond the pain of just buying it once.
BNPL is helpful but also a trick of the mind for people to think they can afford more than they can normally.
$50 for 12 months is easier to swallow than a sudden $600 purchase. If they do buy it in one go, then people will force themselves to save for some time, when they are only down $50 that months they may take on more borrowing that adds up beyond the pain of just buying it once.