UK adults using 'Buy Now Pay Later' services spend £82.90 monthly, but experts warn of financial risks.

'Buy Now Pay Later' (BNPL) services like Klarna and Clearpay have become increasingly popular in the UK, with half of UK adults using them and spending an average of £82.90 monthly. However, experts warn these services can lead to overspending and financial strain, as over half of users have faced fees for late or missed payments. Paul Stringer from Norton Finance advises consumers to spend within their means and avoid non-essential purchases, offering tips for responsible BNPL usage during shopping events like Black Friday.

November 29, 2024
20 Articles