A full-size mattress. Groceries. Haircuts. Eyelash extensions. Botox.

These aren’t luxuries, they’re everyday purchases now being financed at interest rates that can soar above 30%. And young Americans, are turning to Buy Now, Pay Later (“BNPL”) services like Affirm and Klarna in droves.

It starts small: $20 here, $50 there, until it snowballs into thousands of dollars owed, hundreds of dollars in monthly payments, and the stress that comes with digging yourself out of a hole you didn’t realize you were in.

This is not “financial empowerment.” It’s modern debt servitude.

BNPL companies thrive on the illusion of affordability. They take advantage of your desire for immediate gratification and your limited access to traditional credit. Their approval process is quick, easy, and largely invisible to your credit score. Soon, you’re stuck in a revolving door of payments for things that are ephemeral.

The hard truth is, if you can’t afford something outright, you probably shouldn’t buy it. Especially not with a loan charging 20%, 30%, or more.

That doesn’t mean you can never treat yourself. But it does mean you need to develop some discipline and foresight. Here are a few ways to stay out of the BNPL death spiral:

1. Ask yourself:
   • Do I need this right now?
   • Can it wait a month or two?
   • Will I even care about this in six months?
2. Save First, Buy Later
   • If something costs $200 and a BNPL plan breaks it into four payments of $50, you can do that on your own with no interest and no strings.
3. Use BNPL Strategically:
   • Only use zero-interest offers.
   • Only finance items that improve your life (a laptop for school, work tools—not concert tickets).
   • Never overlap BNPL plans. Finish one before starting another.
4. Stop Financing Fleeting Joy
   • Botox wears off. Concerts end. Clothes go out of style. And food gets pooped out. If you’re financing these things at 15–30% interest, you’re paying more for less. You’re renting satisfaction at a premium and getting poorer for it.
5. Respect Your Prime Earning Years
   • Your 20s and early 30s are when your income should be rising and your savings compounding. If you’re drowning in debt for things that bring no long-term value, you’re sabotaging your own trajectory.
6. Make Delayed Gratification Your Default
   • There’s nothing wrong with wanting nice things or having fun. But earning it first is more sustainable than borrowing it. Delayed gratification builds character, savings, and real financial freedom.

BNPL is a modern twist on an old trap. The easy checkout option might look like a solution, but it’s actually a shortcut to long-term financial stress. Practice patience, spend with purpose, and keep control of your wallet.

This post was inspired by an article in the Wall Street Journal that covered the perils of BNPL services on young workers. (Free Link)