Buy now, pay later – that’s the plan for many Americans for this year’s holiday season.
One out of every five Americans will to use short-term installment plans to pay for their holiday shopping, according to Adobe Analytics.
These ‘buy now, pay later’ plans are especially popular with young people – driving more than $9.3 billion in sales in the month of November.
But credit experts warn these plans can result in expensive fees if payments are missed.
What’s your policy when it comes to using credit vs. paying up front?
Photo: iStock
