Buy Now Pay Later

Опубликовано: 28 Май 2025
на канале: Mullooly Asset Management

127

In Episode 378, Tom discusses the growing balances and real potential for problems with "Buy Now, Pay Later" schemes.

Key Takeaways from "Buy Now Pay Later" Episode

1. *Lack of Reporting to Credit Agencies:* Companies like Affirm, Klarna, and AfterPay do not report consumer debts from "buy now pay later" schemes to major credit reporting agencies like Equifax, TransUnion, and Experian. This creates a "financial blind spot" where banks and credit agencies cannot accurately assess a consumer's financial health.

2. *Impact on Financial Transparency:* The absence of debt reporting masks the true financial picture of consumers, potentially misleading banks, government agencies, and other financial institutions about the economic stability of households.

3. *Growing Popularity and Debt Concerns:* The "buy now pay later" market is rapidly growing, expected to increase from $300 billion to $700 billion by 2028. Simultaneously, significant portions of consumers are falling behind on these payments, with 43% reporting they are already behind, adding to the already high levels of credit card debt.

4. *Consumer Financial Strain:* A significant number of consumers are using "buy now pay later" options out of necessity rather than convenience, with many turning to these services after maxing out credit cards or to manage essential expenses like groceries. This indicates a broader issue of financial distress among consumers.

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Mullooly Asset Management is a fee-only investment advisory firm located in Monmouth County, NJ. We work to educate our clients regarding managing the risk in their investments. We act in a fiduciary capacity with our clients at all times.

Our family of investments advisors (Tom, and his three sons - Brendan, Tim and Casey) are all CFP® Professionals.

To our knowledge, WE ARE THE ONLY FAMILY firm - in the nation - with four fiduciary, fee-only investment advisors who all have earned CERTIFIED FINANCIAL PLANNER™ certification.

Tom Mullooly is an investment industry veteran of over 35+ years. The "Mullooly Asset Show," has over 350 episodes and over 450 unique podcasts, which can be found on the site https://www.mullooly.net.

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This video is not a recommendation to buy or sell any of the investments mentioned. None of the securities mentioned in this video represent past specific recommendations of Mullooly Asset Management.

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