S7 M1 Buy Now Pay Later Apps - What's the Catch?

Buy Now Pay Later programs, also known as Point of Sale Loans, are increasing in their availability. In some ways, they are similar to traditional layaway with one huge twist, and many more possible financial consequences. Join Jess to learn more about how Buy Now Pay Later programs work, as well as some of the contractual consequences and psychological pitfalls that can make this appealing payment method cost more than you might expect. MoneyTalks 50+ is brought to you by ElderWatch: a 20+ year collaboration between AARP and the Colorado Attorney General's Office. Our goal is to educate and protect older Coloradans through fraud and financial literacy education. If you or someone you know has experienced fraud or a scam, or is looking for a local financial literacy resource, give us a call! Our phone number is 800-222-4444, select option 2. Our music was created by OfShane. For more information about ElderWatch, check us out online: https://www.aarp.org/money/scams-fraud/elderwatch/