Definition
A service that lets you split a purchase into smaller payments over time, often interest-free. Be mindful of fees if you miss a payment.
What to consider
- Think long-term and avoid reacting to daily market noise.
- Focus on quality investments with sustainable growth.
- Stick with your strategy even during short-term fluctuations.
Real world scenarios
- Carlos uses BNPL for a new laptop, choosing four interest-free payments over the next two months.
- Amy checks several BNPL apps to find the most favorable terms before making a large furniture purchase.
- Marcus sets reminders for each BNPL installment to avoid late fees and maintain a good credit record.
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