Buy now, regret later? Balancing shopping convenience with financial caution

Debt and overspending are prevalent challenges for those embracing Buy Now, Pay Later schemes. However, with the right financial education, these services can be used smartly. — Image by zaozaa09 on Freepik

“I felt like my finances were spiralling out of control. I was using loans to pay off other loans.”

Opting for the alias Desmond, a 26-year-old digital marketing executive recounted his first few experiences using Buy Now, Pay Later (BNPL) services, which eventually landed him in over RM15,000 worth of debt within two months.