Affirm Buy Now and Paying Later Now too

 Just in time for the holidays AFFIRM and other Buy Now Pay Later options start to flood your inbox, ears and just everywhere. 

I have just one suggestion in regard to utilizing these services. 

Utilize what you know you can afford i.e. $200 max 

I know this because its the amount I know I can pay off with 5% of one of my paychecks. 

Now, why you utilize it and when or how long is all your choice. 

But note that most likely your percentage rate is going to be around 29% so, do the math. 

If your total amount of purchase plus tax is $200 that is an additional $58 being added and while you can with other BNPL apps spread that $258 over four payments to being just $65 now you're still paying a lot more than you would if you just waited. 

Right now, its convenient to use but what about 12 months from now. paying off even $65 can be the difference of a prescription, food, bus fare to work. So, one rule don't do it a lot and remember you can always wait a while.