Summary
Debt organizations report an increase in the use of 'buy now, pay later' plans for buying household essentials like food. These plans let people pay for items in installments rather than upfront.
Key Facts
- Leading debt organizations have noted more people using 'buy now, pay later' schemes.
- These schemes are being used for everyday items such as household essentials and food.
- 'Buy now, pay later' allows consumers to pay for purchases over time rather than all at once.
- Such payment plans can lead to increased debt if not managed carefully.
- The rise in these schemes indicates changes in consumer spending habits, especially for necessary items.
