Use 'buy now, pay later' services prudently

Such schemes should never be used at the expense of long-term financial goals.

A sign advertising payments start-up hoolah. One of the positives of BNPL schemes is that they can help the “underbanked”. PHOTO: HOOLAH
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SINGAPORE - Say "buy now, pay later" and you may think of consumers buying everything from laptops to sneakers without having to pay for the items in one go. These short-term, point-of-sale "loans" are offered to customers in stores, often at the checkout point.

They are often interest-free and offer to help you break up the price of your purchase into three or four instalments.

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