‘Buy now, pay later’ might be driving up costs

A growing number of Americans are opting for buy now, pay later services for everyday essentials, such as groceries, which could lead to higher overall costs. This trend is raising concerns among economists and consumers, as these payment plans often come with interest fees that add up over time. While convenient, this shift may be contributing to increased financial strain, especially for lower-income households. The implications suggest a broader need for financial education to navigate these modern payment options wisely.