Buy Now Pay Later: The Data Revealed
5/6/20261 hr 7 min
How many Americans are actually using Buy Now, Pay Later (BNPL) services? And how much is it helping or hurting them financially? Financial Advisors, Brian Preston and Bo Hanson, break down recent data on BNPL usage, and discuss their concern with the rising trend. Then stick around, we talk about what's on your mind with a Q&A segment directly from YOU! This episode features questions on when it's ok to lease a car, when to hire a financial advisor, what to expect as an employee if your company goes public, and so much more. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices
Clips
Transcript preview
First 90 secondsBrian Preston· Host0:00
[gentle music] This financial crutch can lead to devastation.
Bo Hanson· Host0:10
Brian, [laughs] I am so excited to talk about this, uh, because I think it is something that the world needs to hear right now. Because, you know, in our world, in the world of personal finance, there are all sorts of tools, and some of those tools are incredibly valuable and incredibly helpful. You know, one would be like a mortgage. A lot of people can't go pay for their house outright in cash, so they end up taking out a mortgage and borrowing money to do that. That's great. That's noble. That's a tool that can be used and can be used correctly. But there's another, and I'm gonna use tool in air quotes, there's another tool right now that a lot of people are using that I don't think is beneficial for them or for society as a whole.
Brian Preston· Host0:54
Hey, listen, when we talk about sometimes- [laughs] ... there are things that make me feel like the system is designed to try to keep you poor, it does bother me when all the innovation that's going on in banking and consumption seems to be making it easier for you to waste money on stuff.
Bo Hanson· Host1:12
Mm-hmm.
Brian Preston· Host1:12
Not, not necessarily on saving or building wealth, it's on how do we get more of your hard-earned money into consumption. And if you didn't know, we're talking about buy now, pay later. But look, a lot of you right now, you're like, "Ugh," you breathe out. You're like, "I don't struggle with that, 'cause I, I can see where the trap