327 –  Buy Now Pay Later Apps – Is it Debt?

327 – Buy Now Pay Later Apps – Is it Debt?

Author: Doug Hoyes December 5, 2020 Duration: 30:01

Fintech has come up with a new way for making purchases online with Buy Now Pay Later apps. But is 'buy now, pay later' just another form of debt? Do these new apps actually help your budget or fast track financial problems? On today's podcast, we have first-time guest and Hoyes Michalos LIT Jennifer Kwon who walks us through how these apps work, how they benefit from people using them, and she simplifies the terms and conditions so you know what you're signing up for. And Doug Hoyes does the math to show much you'd really pay in interest if you fall behind on payments. Jennifer and Doug also share practical advice for how to use these apps safely to avoid financial trouble. Tune in to this episode for lots of great insight.

 

Resources Mentioned in the Show:

Leon's Financing: https://www.leons.ca/pages/visa-desjardins-financing

Coupon Follow's Millennial Shopping Report: https://couponfollow.com/research/millennial-shopping-report

Afterpay App: https://www.afterpay.com/en-ca/index

Afterpay's Annual Report: https://www.afterpay.com/attachment/315/show

Afterpay & Debit Card Usage: https://www.afterpay.com/attachment/67/show

Afterpay Instalment Agreement: https://www.afterpay.com/en-CA/instalment-agreement

Sezzle App: https://sezzle.com/

Sezzle & Credit Score Impact: https://shopper-help.sezzle.com/hc/en-us/articles/360046383071-How-does-Sezzle-impact-my-credit-score-

Sezzle Late Fees: https://shopper-help.sezzle.com/hc/en-us/articles/360046781511-Why-was-I-charged-a-fee-

Sezzle Info on Purchasers Spending More in App: https://sezzle.com/merchants

Paybright: https://paybright.com/en/break-up-the-cost-7


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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