the reason BNPL schemes are disproportionately used by fast fashion rather than luxury retailers is bc they deliberately target middle/lower income people. luxury items often cost $1000+, and many people using BNPL may not even have $250 to spare “now”.
it feels like the marketing of these pay later companies targeting women ties in with the notion of "girl math" and the careless way society has been feminizing overconsumption and overspending for literally ages. I think that because women rationalizing impulse purchases has become a silly goofy trait thats inherent of girlhood according to social media (and larger societal stereotypes spanning eons), its easier to capitalize on marketing schemes that hound in on that concept bc women themselves are now more willing than ever to buy into them
Sadly I was a victim of this overspending and working so hard just to pay it off afterwards.. The crazy part is when I get the items I buy the satisfaction isn’t there anymore and I barely use them so I had to be strict on myself on how I spend money
@@isysslepore72 i saw a tiktok that spoke about the same feeling of feeling disappointment seconds after you’ve bought something 😭😭 overconsumption is rotting our brains
I think it's a weird one. A blessing and a curse. Really I think it should only be used for larger purchases that you can afford, but don't want to take the whole financial hit in one go. I actually used one recently to buy a holiday that I knew I could afford outright, however I chose the option to pay a certain amount each month on my payday, so it feels like less of a hit to my bank account.
the issue is never really people deciding to use loans responsibly, no matter the loan. the issue imo isn't even predatory companies taking advantage of mentally ill buyers or bad economy, i think the real issue is the fact that in the west, the richest countries currently, people who have normal jobs are starting to use pay later for fast fashion or food delivery. that is absolutely insane and will lead us to dystopia so quickly.
i do agree that they’re not completely nefarious, it’s just so weird that their advertising is so fashion and female centred! they know that if they constantly push ppl to borrow for smaller purchases they’re less likely to take it seriously, less likely to therefore make payments and then they can get money😗
I don't think anything is wrong with it if it's used responsibly. It's a lot more straightforward than a credit card. But, of course, the issue is that a lot of people don't use it responsibly and it's marketed towards young people because they are more easily influenced. I watched a video on a finance channel where a couple was in debt due, in part, to klarna. One purchase they made with klarna was a huge, expensive toy pony for their kid that the kid doesn't even play with.
what a random thing for the couple to spend so much money on 😭 in principle they do make credit options more accessible, which is why i think instead of banning them the gov should encourage warnings on the advertising like betting / drinking to educate people!!
I understand how this is fuelling consumption, and agree with the points. However, we also need to think about the positives and the sustainability. For example: a lot of people complaining that sustainable fashion is very expensive and unaffordable, and that is the main excuse for people not investing in sustainable fashion. Therefore if sustainable brands adopted this - it really could be a positive thing for sustainability in my opinion. But it is true that it is mainly fast fashion that are benefiting from this at the moment.
Maybe the underlying issue is simply financial literacy is not taught - it certainly isn’t in school but surprisingly even at home. Budgeting, how money, credit, interest etc works is vital. We can’t keep slapping warning labels on everything, at some point people need to take personal responsibility otherwise the nanny state will take over and eventually will control you. Responsibility stops at the individual, if they cannot understand debt and how that affects them then they are the issue - we are at an age where information is readily available as never before. People need to take ownership and not heed a warning on a fashion fashion website about what they are signing up to.
most people in society can use these services, but they need to watch their media, ad & internet consumption and check how much they're spending every month. i use paylater to have a bit of extra spending room some months, and i pay it back the next month with no problems. i don't just do this for fun purchases like clothing either. but with clothing that you buy new it's especially good, cause you will be able to try something on and possibly return or exchange it without it ever hitting your bank account at all. of course, the number 1 thing is still: you have to understand these companies. the literal concept of how they make their money is people buying things they cannot afford. obviously that is not a good sign for society no matter how you spin it. but in practice, you can use it and it can be really convenient - it all comes down to personal responsibility. some shouldn't use these services at all, but as long as they are over 18 it is their responsibility to decide that about themselves. predatory companies can only succeed if people turn off their brains. ps sorry for the longer comment, i just enjoy having intelligent discussions while we still can
but i will say, klarna makes their scheme extremely obvious and it has become annoying how mainstream they are, cause some companies will now have klarna as the only good payment option.
interesting what you say here about returns - i don’t want you to feel your behaviour is specifically targeted bc i know other ppl do this, but i wonder how much this contributes to fashion’s return issue and how many returns they end up throwing straight away 😮 i do agree with your assessment that it’s people’s own responsibility to use these safely, but to me the marketing seems to contradict this - it’s almost showing these credit options as frivolous, secondnature purchases and i think it tricks ppl into a false sense of security 😩
@@katierobinson don't worry i don't feel personally targeted because of the return comment or anything! i would actually totally be interested to know if others do the same as well, and whether it leads to even more waste this way. i think my original point about personal responsibility and mainstream intelligence still stands, even if it is a bit heartless. i think you're trying to say their schemes trick people, and you think the company should take responsbility and not be predatory at all. i see the same picture, but a different approach. of course they *should* not prey on people at all, but their schemes will only become more predatory and more profitable. they are not going anywhere. in reality, those who cannot protect themselves mentally suffer the most from these schemes (underage, seniors, certain mental illness, etc.), they need to be protected from the outside. but everyone else who is a stable adult needs to show some sort of personal responsibility and also intelligent thought and we can coexist with these companies, as we are forced to do either way. we live with many things that are not totally morally correct. now that i'm hearing myself it actually could be compared to gambling in general i think - it's not banned, it's regulated and people with mental issues (addicts) get help in society. and yet, we all still know the casino owners live the best life out of all of us. this is something we can't change. i think we just see it differently, which is totally fine and why i like having discussions.
@@katierobinson klarna is bascially "you are of lower intelligence than our 50yo wealthy swedish owner and we will win" and every college student in the western world is like "yes shiny things!"
Buy now pay later schemes were around in the late 70s and early 80s. It was mostly limited to the airline industry where you could buy a ticket now and then pay it back over a period of time. It was phased out and I'm surprised to see that it is back with a bang. It was problematic then so it can't be better now.
So true bestie…(as I pay off my last payment) lol. The dopamine hit decreased once I got medicated for my ADHD. I think that because I’ve always had a high credit score and never messed a payment I never worried. In most cases it was things that I could afford but didn’t want to pay for all at once (which means these were things I didn't need)
haha it sounds like you're doing it responsibly so there's no issue with getting into debt! but interesting what you say about using BNPL for things you didn't need, wonder if there's more psychology there to unpack 🤔
don't forget if a product is sold and has a bnpl advertised for free... its already worked into the price. so even if you want to pay full price right now, the price is already inflated and your paying for these bnpl services.
It’s another symptom of late stage capitalism and overconsumption. Money is just being sucked up by wealthy and not going back to the workers. People aren’t being compensated fairly for their labor which is why many resort to the BNPL scheme. Capitalism feeds itself on overconsumption which is why advertisers are becoming more aggressive by increasing the number of ads and their length. That’s why BNPl schemes are so appealing because you can get access things without paying for the full price up front. It feeds off of people’s desperation in a lot of cases. It’s no coincidence that many companies have been reporting record profits meanwhile everyone else is getting poorer because of this.
Especially luxury brands are using these because most younger people couldn’t afford their products without it. It’s used for high cost products to be made attainable by someone with a lower income. Which in my opinion isn’t a good thing. It’s worse than a credit card because it’s so easy to buy something you don’t really want without having time to examine the financial repercussions.
agree that it's way too easy to access these lenders without fully understanding the repercussions of your purchase or your agreement with the BNPL scheme!!
IMO BNPL is very useful if you have self-control and spend responsibly as it allows you to split your payments into few months in the event you need to make emergency purchases. At the same time it can be very dangerous if you shop irresponsibly and overspend, it's a double-edged sword just like credit cards.
not 100% related, but after reading the title, I thought it was about ordering products and paying only after receiving. it's kind of a problem for me, because I know I'll have to pay this sum later, but it doesn't leave my account, and it creates a feeling of having more money to spare than you actually do. I don't think I've used the actual bnpl scheme, because I'm "old school" and I prefer save up and then by and feel free of this burden what makes you treat credit money the same as "real" money, I think, is looking at the balance of your credit card thinking "I'll have to repay it". i went away on vacations and then got fired from my workplace so I have a considerable debut (as compared to the ideal of having no debt), and every time I look at my balance or have to take money from it, I think how it'll get subtracted from my future salary. it hurts, but helps not relax too much
Totally agree about it making you feel like you have more spending money than you actually do. I grew up poor and am bad with money, and I learnt the hard way that BNPL is not good for me. I used it once to buy a necessity that I could not afford outright, then after that I used it a couple of times to make big clothing purchases (which I don't do often so it was only ro replace things that had gotten old/didnt fit anymore, but I still couldn't afford) and I fell behind in my payments each time I used it. I have not been game to use it since then, it was scary how fast it became a feasible option to enable overspending for me.
agree 100% about credit cards, i don't actually have one myself but i can see how if you're not checking the balance constantly you can get carried away and then a massive shock when it comes time to pay it off!
The reason their marketing doesn't directly target men is because there's no need to. Make a deal with a few tool/part shops, offer it at checkout, and the sort of bloke who would have fallen for the ad will use it. The cheap clothes market, on the other hand, is all about appearances, so they have to craft some sort of image before shoppers will take them seriously. Hence billboards and ads. If they just showed up at the checkout page, your typical fast-fashion shopper knowing precisely nothing about them will simply ignore the offer for the scam that it is. But if you've already seen/heard about them, then it's OK. After all, they wouldn't advertise if they weren't legit 😉
I used one of the BNPL schemes once to buy a nintendo switch, I managed to pay it off and I then closed the accout but I was close to not having enough money to pay tbh. I just managed to pay off a credit card, I have some more cards to get yet
Not me genuinely thinking that BNPL was just a helpful way to build my credit score (it went up but gheez this is so bad, think I was having rose tinted glasses on) would never use BNPL if I didn’t have the item or items total amount, it’s wild to think people are in debt from clothes that are made so badly 😅
Women are more inclined to spend the "pretty pennies" on something pretty, many girls are not REALLY financially educated enough and don't often associate future spending with themselves. A disassociation essentially. Its not that men don't use BNPL however, men typically got for things FAR more expensive (watches, cars...sterotypically) and these are not something you can just mentally dumb down as "oh its only £10 a month". Whereas with girls, we tend to go more for the cheaper fashion (fast fashion) which SEEMS affordable but by the time you've bought 100 items on BNPL your future self will regret it immessly, especially considering it barely lasts more than 1 season. I look at BNPL the same way I see cars (since both things and cars depreciate in value). I'm a woman, but I think with age (I'm 29) you start to prioritise important purchases over little ones. I shop on discounts, sales etc. but never fast fashion. I'd rather spend £100 on a gorgeous well crafted 100% silk top (on sale from £300+!) rather than £100 on 5 badly made polyester tops that I'll throw away next month. You're not going to buy 5 silk tops at once though, but they sure will last much longer and feel better on your skin + due to expense, you won't be throwing it away anytime soon. BNPL is okay if you A. Have the funds to be able to afford to put it in full but choose to use BNPL because of convenience B. You KNOW you will not struggle to pay and it fits within your monthly budget comfortably C. You use it for a short period and D. You have had a thought about the item so you're certain its something you really want, is worth your money/energy and you will use for a LONG time.
completely agree with all this!! esp the part about wanting to spend more on a quality top than 5 awful tops you'll throw out way sooner, i think that's been a big step up for me in how i view clothes and it's a lot more sustainable 🫶 your last points about when to use BNPL are spot on, i think everyone who's considering using such a service should ask themselves this!
i wear lolita fashion and i only use BNPL for lolita dresses because they can be quite expensive. i don’t prefer it, but it’s easier to make 4 payments of $20 than 1 payment of $80 because i’m a broke university student. doing it for cheap purchases that you make frequently can be really harmful in the long run though. edit: i don’t purchase these items very often and this is the only occasion i use BNPL for. if it’s a small purchase, it’s infinitely better to get it out of the way first.
the reason BNPL schemes are disproportionately used by fast fashion rather than luxury retailers is bc they deliberately target middle/lower income people. luxury items often cost $1000+, and many people using BNPL may not even have $250 to spare “now”.
agreed, it just seems so backwards to me and unfair of BNPL brands to do this 😭
it feels like the marketing of these pay later companies targeting women ties in with the notion of "girl math" and the careless way society has been feminizing overconsumption and overspending for literally ages. I think that because women rationalizing impulse purchases has become a silly goofy trait thats inherent of girlhood according to social media (and larger societal stereotypes spanning eons), its easier to capitalize on marketing schemes that hound in on that concept bc women themselves are now more willing than ever to buy into them
yesss!!! i literally had this phrase in my notes for this video, they know exactly how to target women with their ads!
Sadly I was a victim of this overspending and working so hard just to pay it off afterwards.. The crazy part is when I get the items I buy the satisfaction isn’t there anymore and I barely use them so I had to be strict on myself on how I spend money
@@isysslepore72 i saw a tiktok that spoke about the same feeling of feeling disappointment seconds after you’ve bought something 😭😭 overconsumption is rotting our brains
!!
I think it's a weird one. A blessing and a curse.
Really I think it should only be used for larger purchases that you can afford, but don't want to take the whole financial hit in one go.
I actually used one recently to buy a holiday that I knew I could afford outright, however I chose the option to pay a certain amount each month on my payday, so it feels like less of a hit to my bank account.
the issue is never really people deciding to use loans responsibly, no matter the loan. the issue imo isn't even predatory companies taking advantage of mentally ill buyers or bad economy, i think the real issue is the fact that in the west, the richest countries currently, people who have normal jobs are starting to use pay later for fast fashion or food delivery. that is absolutely insane and will lead us to dystopia so quickly.
i do agree that they’re not completely nefarious, it’s just so weird that their advertising is so fashion and female centred! they know that if they constantly push ppl to borrow for smaller purchases they’re less likely to take it seriously, less likely to therefore make payments and then they can get money😗
@@stonersirenagreed 100%!
I don't think anything is wrong with it if it's used responsibly. It's a lot more straightforward than a credit card. But, of course, the issue is that a lot of people don't use it responsibly and it's marketed towards young people because they are more easily influenced. I watched a video on a finance channel where a couple was in debt due, in part, to klarna. One purchase they made with klarna was a huge, expensive toy pony for their kid that the kid doesn't even play with.
what a random thing for the couple to spend so much money on 😭 in principle they do make credit options more accessible, which is why i think instead of banning them the gov should encourage warnings on the advertising like betting / drinking to educate people!!
I understand how this is fuelling consumption, and agree with the points. However, we also need to think about the positives and the sustainability. For example: a lot of people complaining that sustainable fashion is very expensive and unaffordable, and that is the main excuse for people not investing in sustainable fashion. Therefore if sustainable brands adopted this - it really could be a positive thing for sustainability in my opinion. But it is true that it is mainly fast fashion that are benefiting from this at the moment.
Maybe the underlying issue is simply financial literacy is not taught - it certainly isn’t in school but surprisingly even at home. Budgeting, how money, credit, interest etc works is vital. We can’t keep slapping warning labels on everything, at some point people need to take personal responsibility otherwise the nanny state will take over and eventually will control you. Responsibility stops at the individual, if they cannot understand debt and how that affects them then they are the issue - we are at an age where information is readily available as never before. People need to take ownership and not heed a warning on a fashion fashion website about what they are signing up to.
most people in society can use these services, but they need to watch their media, ad & internet consumption and check how much they're spending every month.
i use paylater to have a bit of extra spending room some months, and i pay it back the next month with no problems. i don't just do this for fun purchases like clothing either. but with clothing that you buy new it's especially good, cause you will be able to try something on and possibly return or exchange it without it ever hitting your bank account at all.
of course, the number 1 thing is still: you have to understand these companies. the literal concept of how they make their money is people buying things they cannot afford. obviously that is not a good sign for society no matter how you spin it.
but in practice, you can use it and it can be really convenient - it all comes down to personal responsibility.
some shouldn't use these services at all, but as long as they are over 18 it is their responsibility to decide that about themselves. predatory companies can only succeed if people turn off their brains.
ps sorry for the longer comment, i just enjoy having intelligent discussions while we still can
but i will say, klarna makes their scheme extremely obvious and it has become annoying how mainstream they are, cause some companies will now have klarna as the only good payment option.
interesting what you say here about returns - i don’t want you to feel your behaviour is specifically targeted bc i know other ppl do this, but i wonder how much this contributes to fashion’s return issue and how many returns they end up throwing straight away 😮
i do agree with your assessment that it’s people’s own responsibility to use these safely, but to me the marketing seems to contradict this - it’s almost showing these credit options as frivolous, secondnature purchases and i think it tricks ppl into a false sense of security 😩
@@stonersirenagreed, Klarna is the main BNPL that i have an issue with bc their ads and marketing are really transparent!
@@katierobinson don't worry i don't feel personally targeted because of the return comment or anything!
i would actually totally be interested to know if others do the same as well, and whether it leads to even more waste this way.
i think my original point about personal responsibility and mainstream intelligence still stands, even if it is a bit heartless.
i think you're trying to say their schemes trick people, and you think the company should take responsbility and not be predatory at all.
i see the same picture, but a different approach.
of course they *should* not prey on people at all, but their schemes will only become more predatory and more profitable. they are not going anywhere.
in reality, those who cannot protect themselves mentally suffer the most from these schemes (underage, seniors, certain mental illness, etc.), they need to be protected from the outside.
but everyone else who is a stable adult needs to show some sort of personal responsibility and also intelligent thought and we can coexist with these companies, as we are forced to do either way. we live with many things that are not totally morally correct.
now that i'm hearing myself it actually could be compared to gambling in general i think - it's not banned, it's regulated and people with mental issues (addicts) get help in society. and yet, we all still know the casino owners live the best life out of all of us. this is something we can't change.
i think we just see it differently, which is totally fine and why i like having discussions.
@@katierobinson klarna is bascially "you are of lower intelligence than our 50yo wealthy swedish owner and we will win" and every college student in the western world is like "yes shiny things!"
Buy now pay later schemes were around in the late 70s and early 80s. It was mostly limited to the airline industry where you could buy a ticket now and then pay it back over a period of time. It was phased out and I'm surprised to see that it is back with a bang. It was problematic then so it can't be better now.
So true bestie…(as I pay off my last payment) lol. The dopamine hit decreased once I got medicated for my ADHD. I think that because I’ve always had a high credit score and never messed a payment I never worried. In most cases it was things that I could afford but didn’t want to pay for all at once (which means these were things I didn't need)
haha it sounds like you're doing it responsibly so there's no issue with getting into debt! but interesting what you say about using BNPL for things you didn't need, wonder if there's more psychology there to unpack 🤔
I would never use BNPL for fashion. It is mindblowing to me that people do
i also think i wouldn't, it just seems like a very serious thing for clothes imo 😭
don't forget if a product is sold and has a bnpl advertised for free... its already worked into the price. so even if you want to pay full price right now, the price is already inflated and your paying for these bnpl services.
i didn't mention this but makes complete sense, thanks for adding!!
It’s another symptom of late stage capitalism and overconsumption. Money is just being sucked up by wealthy and not going back to the workers. People aren’t being compensated fairly for their labor which is why many resort to the BNPL scheme. Capitalism feeds itself on overconsumption which is why advertisers are becoming more aggressive by increasing the number of ads and their length. That’s why BNPl schemes are so appealing because you can get access things without paying for the full price up front. It feeds off of people’s desperation in a lot of cases. It’s no coincidence that many companies have been reporting record profits meanwhile everyone else is getting poorer because of this.
agree 100%
Especially luxury brands are using these because most younger people couldn’t afford their products without it. It’s used for high cost products to be made attainable by someone with a lower income. Which in my opinion isn’t a good thing. It’s worse than a credit card because it’s so easy to buy something you don’t really want without having time to examine the financial repercussions.
agree that it's way too easy to access these lenders without fully understanding the repercussions of your purchase or your agreement with the BNPL scheme!!
IMO BNPL is very useful if you have self-control and spend responsibly as it allows you to split your payments into few months in the event you need to make emergency purchases. At the same time it can be very dangerous if you shop irresponsibly and overspend, it's a double-edged sword just like credit cards.
your channel is amazingggg ever since i found it, it's made me think differently about a lot of things so thank you !
awww im so glad you found it and are enjoying the videos! thanks for watching 🫶
not 100% related, but after reading the title, I thought it was about ordering products and paying only after receiving. it's kind of a problem for me, because I know I'll have to pay this sum later, but it doesn't leave my account, and it creates a feeling of having more money to spare than you actually do.
I don't think I've used the actual bnpl scheme, because I'm "old school" and I prefer save up and then by and feel free of this burden
what makes you treat credit money the same as "real" money, I think, is looking at the balance of your credit card thinking "I'll have to repay it". i went away on vacations and then got fired from my workplace so I have a considerable debut (as compared to the ideal of having no debt), and every time I look at my balance or have to take money from it, I think how it'll get subtracted from my future salary. it hurts, but helps not relax too much
Totally agree about it making you feel like you have more spending money than you actually do. I grew up poor and am bad with money, and I learnt the hard way that BNPL is not good for me. I used it once to buy a necessity that I could not afford outright, then after that I used it a couple of times to make big clothing purchases (which I don't do often so it was only ro replace things that had gotten old/didnt fit anymore, but I still couldn't afford) and I fell behind in my payments each time I used it. I have not been game to use it since then, it was scary how fast it became a feasible option to enable overspending for me.
agree 100% about credit cards, i don't actually have one myself but i can see how if you're not checking the balance constantly you can get carried away and then a massive shock when it comes time to pay it off!
Really enjoying your channel! Love more analytical approach to fashion and fashion industry.
aww thank you sm for watching, im so glad you enjoy! 🫶
Thank you, I needed to see it
im glad it reached you in this case!! 🫶
The reason their marketing doesn't directly target men is because there's no need to. Make a deal with a few tool/part shops, offer it at checkout, and the sort of bloke who would have fallen for the ad will use it.
The cheap clothes market, on the other hand, is all about appearances, so they have to craft some sort of image before shoppers will take them seriously. Hence billboards and ads. If they just showed up at the checkout page, your typical fast-fashion shopper knowing precisely nothing about them will simply ignore the offer for the scam that it is. But if you've already seen/heard about them, then it's OK. After all, they wouldn't advertise if they weren't legit 😉
I used one of the BNPL schemes once to buy a nintendo switch, I managed to pay it off and I then closed the accout but I was close to not having enough money to pay tbh. I just managed to pay off a credit card, I have some more cards to get yet
glad you managed to pay it off!! they can definitely be helpful for big purchases if you're careful with them but too often ppl aren't 😭
Well done on the 3000+, please continue with the great content Katie, take care.
ah thanks so much for being here from almost the beginning! 🫶
I found these very much helpful during inflation… but I’m very mindful with how I use it so I don’t drown in “payments”.
Not me genuinely thinking that BNPL was just a helpful way to build my credit score (it went up but gheez this is so bad, think I was having rose tinted glasses on) would never use BNPL if I didn’t have the item or items total amount, it’s wild to think people are in debt from clothes that are made so badly 😅
i don't blame you for being duped by them, their advertising is so friendly and disarming that many ppl don't understand how serious it is!!
@@katierobinson honestly it’s quite shocking how they’re being marketed and especially my demographic too as a student I feel like everyone uses it
Fashion in general is a scam. "Fast fashion" doubly so.
Buy nice clothes you enjoy wearing and *actually wear them* . More than once.
Women are more inclined to spend the "pretty pennies" on something pretty, many girls are not REALLY financially educated enough and don't often associate future spending with themselves. A disassociation essentially. Its not that men don't use BNPL however, men typically got for things FAR more expensive (watches, cars...sterotypically) and these are not something you can just mentally dumb down as "oh its only £10 a month". Whereas with girls, we tend to go more for the cheaper fashion (fast fashion) which SEEMS affordable but by the time you've bought 100 items on BNPL your future self will regret it immessly, especially considering it barely lasts more than 1 season.
I look at BNPL the same way I see cars (since both things and cars depreciate in value). I'm a woman, but I think with age (I'm 29) you start to prioritise important purchases over little ones. I shop on discounts, sales etc. but never fast fashion. I'd rather spend £100 on a gorgeous well crafted 100% silk top (on sale from £300+!) rather than £100 on 5 badly made polyester tops that I'll throw away next month. You're not going to buy 5 silk tops at once though, but they sure will last much longer and feel better on your skin + due to expense, you won't be throwing it away anytime soon.
BNPL is okay if you A. Have the funds to be able to afford to put it in full but choose to use BNPL because of convenience B. You KNOW you will not struggle to pay and it fits within your monthly budget comfortably C. You use it for a short period and D. You have had a thought about the item so you're certain its something you really want, is worth your money/energy and you will use for a LONG time.
completely agree with all this!! esp the part about wanting to spend more on a quality top than 5 awful tops you'll throw out way sooner, i think that's been a big step up for me in how i view clothes and it's a lot more sustainable 🫶 your last points about when to use BNPL are spot on, i think everyone who's considering using such a service should ask themselves this!
Commenting so your channel grows 🎉
aww thank u sm!!
Fincancial literacy needs to be a class taught in school
i wear lolita fashion and i only use BNPL for lolita dresses because they can be quite expensive. i don’t prefer it, but it’s easier to make 4 payments of $20 than 1 payment of $80 because i’m a broke university student. doing it for cheap purchases that you make frequently can be really harmful in the long run though.
edit: i don’t purchase these items very often and this is the only occasion i use BNPL for. if it’s a small purchase, it’s infinitely better to get it out of the way first.