Buy Now, Pay Later (BNPL) is becoming an increasingly adopted payment option in Singapore, especially with millennials and Gen Zs. As the name suggests, BNPL means you can purchase what you want now and pay for them later, often in installments. This modern approach to consumer financing has gained traction, promising convenience and flexibility in the way we shop. However, as the allure of deferred payments beckons, it also raises a critical question: Is Buy Now, Pay Later a good thing for you, or does it conceal potential financial pitfalls? How does BNPL work? As mentioned, when you choose to use BNPL, you can make a purchase and select this payment option at the checkout. Instead of paying the full amount up front, you can choose to split the payment into smaller installments. The number of instalments and the frequency of payments may vary depending on the BNPL provider. Some providers offer weekly or bi-weekly payments,...