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Planet Money

Buy now, pay dearly?

Planet Money

NPR

Business, News

4.629.8K Ratings

🗓️ 14 May 2022

⏱️ 21 minutes

🧾️ Download transcript

Summary

A wave of companies that allow customers to pay for items from their favorite stores in four interest-free installments has taken over the country. But is "buy now, pay later" lending too good to be true? | Subscribe to our weekly newsletter here.

Transcript

Click on a timestamp to play from that location

0:00.0

This is Planet Money from NPR.

0:06.7

This is the story of how Amelia Schmarzo fell into a kind of rabbit hole, one that involved

0:11.8

a lot of online shopping.

0:14.4

But the story isn't about the stuff she bought as much as the new way she found to pay

0:18.6

for that stuff.

0:20.4

It starts a couple of years ago in the spring of 2020 when Amelia found herself, like

0:24.5

so many of us, locked down at home, bored, scared, going a little stir crazy.

0:29.9

I was like, who am I?

0:31.8

Like, what is going on?

0:33.0

Like, oh my gosh, I hit a midlife crisis at the age of 20.

0:36.5

I was like, I need to find new passions that I can new hobbies to keep myself busy.

0:41.0

So Amelia's a junior in college.

0:42.7

She's living in an apartment in San Diego and she started doing these at home exercise

0:46.8

videos that were made by influencers she saw on social media.

0:50.0

Good morning, everyone and welcome back to my channel.

0:53.5

Today, I have a video.

0:54.5

Three pound, ten pound and twenty pound.

0:57.0

I live swear, either what, make sure, but grow.

1:01.0

And then I found influencers who follow these influencers.

1:04.6

And so that is how I kind of gone.

1:06.6

So the realm of getting influenced by influencers.

1:09.9

That's how you fell under the influence.

...

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