I read an article in the New York Times Magazine Oct 7. The comments below describe my thoughts about the Buy Now Pay Later phenomena. Image above screen grab from the NYT article.
BNPL
A far smaller eco footprint lifestyle is a must at all levels of society, from personal to national, if our civilization is to reach sustainability and shift from born to shop to born to live up to our healthy potentials.
Our growth based economic system has to become smaller. As mentioned elsewhere in the Primer, paradigm shift includes the movement towards a smaller pie divided more sensibly. But then, capitalism and its consumer culture is not based on common sense, its based on excess, vanity and in the interests of those who control it. The inertia of growth is an enormous problem to contain much less reverse, especially when the consumer culture is so able to seduce on its own behalf.
Our familiar level of comfort and affluence depends on a way of life that is not sustainable.
I read an article in the New York Times with the title “They Got To Live a Life of Luxury. Then Came the Fine Print.” My life's financial position is on the periphery of the consumer culture. I was not aware of this more recent tactic to facilitate overspending and not surprisingly, it fits perfectly into the broader narrative of over-consumption and the American Cargo Cult.
The subtitle for this article, dated Oct. 7, 2025 is “Buy Now, Pay Later has built a delirious new culture of consumption – and trapped users in a vortex of debt.”
The article follows the experience of a woman who, over ten odd years, was drawn into the BNPL [Buy Now, Pay Later] “vortex.” The woman's coming to realize she was $50,000 in debt is a cautionary tale to explain this latest tool for luring people into buying stuff she and untold thousands of other hatchlings of the consumer culture would not be able to with more conventional means such as prudent credit card skills, or, of all things, using cash or even less likely, not buying all that stuff to begin with.
But first, a short look at how buying non essential products has become easier and more acceptable over the past hundred years. The his/herstory of a social phenomena helps put the present in perspective. Keep in mind, other writings in the Primer such as social engineering, prioritizing time and money, the Cargo cult and then a paradigm shift look at the financial meltdown of 2008, external costs and other aspects of capitalism and its consumer culture.
The basic idea of credit predates money itself and has evolved through the Crusades, the Renaissance up to the early days of the US. A farmer might take goods from a local merchant and make the pay back after the harvest. These arrangements were local, personal and for basic needs. People might borrow from family and there were even pawn shops hundreds of years ago and early forms of loan sharks, too.
Improvements in transportation, communications and commerce brought many accelerating changes into the 20th century. Mass production presented many more products to want. The work week was shortening as more people lived and worked in town instead of the farm. Car ownership rose steeply in the teens and 20's thanks to innovations like the General Motors Acceptance Corporation. The GMAC required a down payment with the balance due over time, plus some interest. Paying over time meant having the item could be bought and used before all the money was in hand. Still, this arrangement payment was single party, it was limited to the buyer and a particular product like a car or a sewing machine.
Recall in the Primer, the writing about Edward Bernays and social engineering. The idea, to keep the great majority of people distracted and entertained while the “chosen few” run society. The result - positive human potential is degraded and so is the natural world, we have climate change and many other mostly avoidable problems in favor of economic growth, excess, vanity and a concentration of economic and political power in fewer and fewer hands.
HERE is more about Bernays and social engineering.
In 1949, The Diner's Club introduced the two party approach to credit. A growing number of businesses signed on to the Diner's Club network. Buyers could use the card instead of up front money but still had to pay off the purchases. Participating business paid a fee to Diner's Club and Club members paid a $5 yearly fee. At first, well heeled members were personally invited. Before long, the reach of Diner's club expanded past New York City and the personally invited. But it didn't take much time for many competitors to join the credit card fray including by the late 1960's, what would become known as Visa, Master Card and Discover.
Credit cards have become ubiquitous. They are, essentially, a loan mechanism. Responsible use of a credit card can avoid service charges, late fees and high interest rates on deferred pay backs. Meanwhile, for many many people, credit cards encourage overspending. Not keeping up with payments can lead to financial problems. Irresponsible use of a credit card increases the expense of using one and also becoming heavily in debt. A growing number of consumers are left with fewer options to buy.
So the New York Times article described the experience or ordeal, shared by a woman who was drawn into the use of a new scheme for people to buy beyond their means, some might say, in a predatory way.
In general, most BNPL companies do not perform a hard credit check to use it services. Most do not charge interest. A BNPL requires an upfront payment, usually 25% and then three more payments to the BNPL firm every two weeks. Other fees may be charged for late payments or longer term repayments.
Some might say this is totally wholesome. A closer look reveals a yellow flag. BNPL appeals to people who have fewer credit card options and its users are more likely to have had checkered histories for debt repayments. Some might say the buy now pay later plans create the appearance of a good deal with a need to pay only 25% up front. Something like inviting a sugar addict into a candy store. If managed responsibly, a BNPL account can avoid the debt vortex but many people do not appreciate the potential problems using this approach.
The woman in the NYT article can only blame herself but the upshot is, she lost control of her own spending for in the moment, impulse driven, non essential items. She described the buzz of buying and making an impression to those with more money with clothes and accessories she admits, she could not really afford.
Edward Bernays may or may not have anticipated the modern credit card but would probably not be surprised.
The woman in the article finally came to terms with her debt. She paid off the debt pilferring her retirement plans, she even sold much of what she bought by way of BMPL. It took her years but now, she is far more careful about her spending.
Not having any experience with a credit card, I do have a debit card, much less BNPL, I can only assume. There are already millions of people strung out on credit cards. People use one card to pay off another. From the article, the BNPL approach is casting a wider net to draw more, less solvent people into spending more than they can afford. BNPL just elevates the predatory nature of the economic System a bit more.
Contact me Donate to the Primer
BNPL
A far smaller eco footprint lifestyle is a must at all levels of society, from personal to national, if our civilization is to reach sustainability and shift from born to shop to born to live up to our healthy potentials.
Our growth based economic system has to become smaller. As mentioned elsewhere in the Primer, paradigm shift includes the movement towards a smaller pie divided more sensibly. But then, capitalism and its consumer culture is not based on common sense, its based on excess, vanity and in the interests of those who control it. The inertia of growth is an enormous problem to contain much less reverse, especially when the consumer culture is so able to seduce on its own behalf.
Our familiar level of comfort and affluence depends on a way of life that is not sustainable.
I read an article in the New York Times with the title “They Got To Live a Life of Luxury. Then Came the Fine Print.” My life's financial position is on the periphery of the consumer culture. I was not aware of this more recent tactic to facilitate overspending and not surprisingly, it fits perfectly into the broader narrative of over-consumption and the American Cargo Cult.
The subtitle for this article, dated Oct. 7, 2025 is “Buy Now, Pay Later has built a delirious new culture of consumption – and trapped users in a vortex of debt.”
The article follows the experience of a woman who, over ten odd years, was drawn into the BNPL [Buy Now, Pay Later] “vortex.” The woman's coming to realize she was $50,000 in debt is a cautionary tale to explain this latest tool for luring people into buying stuff she and untold thousands of other hatchlings of the consumer culture would not be able to with more conventional means such as prudent credit card skills, or, of all things, using cash or even less likely, not buying all that stuff to begin with.
But first, a short look at how buying non essential products has become easier and more acceptable over the past hundred years. The his/herstory of a social phenomena helps put the present in perspective. Keep in mind, other writings in the Primer such as social engineering, prioritizing time and money, the Cargo cult and then a paradigm shift look at the financial meltdown of 2008, external costs and other aspects of capitalism and its consumer culture.
The basic idea of credit predates money itself and has evolved through the Crusades, the Renaissance up to the early days of the US. A farmer might take goods from a local merchant and make the pay back after the harvest. These arrangements were local, personal and for basic needs. People might borrow from family and there were even pawn shops hundreds of years ago and early forms of loan sharks, too.
Improvements in transportation, communications and commerce brought many accelerating changes into the 20th century. Mass production presented many more products to want. The work week was shortening as more people lived and worked in town instead of the farm. Car ownership rose steeply in the teens and 20's thanks to innovations like the General Motors Acceptance Corporation. The GMAC required a down payment with the balance due over time, plus some interest. Paying over time meant having the item could be bought and used before all the money was in hand. Still, this arrangement payment was single party, it was limited to the buyer and a particular product like a car or a sewing machine.
Recall in the Primer, the writing about Edward Bernays and social engineering. The idea, to keep the great majority of people distracted and entertained while the “chosen few” run society. The result - positive human potential is degraded and so is the natural world, we have climate change and many other mostly avoidable problems in favor of economic growth, excess, vanity and a concentration of economic and political power in fewer and fewer hands.
HERE is more about Bernays and social engineering.
In 1949, The Diner's Club introduced the two party approach to credit. A growing number of businesses signed on to the Diner's Club network. Buyers could use the card instead of up front money but still had to pay off the purchases. Participating business paid a fee to Diner's Club and Club members paid a $5 yearly fee. At first, well heeled members were personally invited. Before long, the reach of Diner's club expanded past New York City and the personally invited. But it didn't take much time for many competitors to join the credit card fray including by the late 1960's, what would become known as Visa, Master Card and Discover.
Credit cards have become ubiquitous. They are, essentially, a loan mechanism. Responsible use of a credit card can avoid service charges, late fees and high interest rates on deferred pay backs. Meanwhile, for many many people, credit cards encourage overspending. Not keeping up with payments can lead to financial problems. Irresponsible use of a credit card increases the expense of using one and also becoming heavily in debt. A growing number of consumers are left with fewer options to buy.
So the New York Times article described the experience or ordeal, shared by a woman who was drawn into the use of a new scheme for people to buy beyond their means, some might say, in a predatory way.
In general, most BNPL companies do not perform a hard credit check to use it services. Most do not charge interest. A BNPL requires an upfront payment, usually 25% and then three more payments to the BNPL firm every two weeks. Other fees may be charged for late payments or longer term repayments.
Some might say this is totally wholesome. A closer look reveals a yellow flag. BNPL appeals to people who have fewer credit card options and its users are more likely to have had checkered histories for debt repayments. Some might say the buy now pay later plans create the appearance of a good deal with a need to pay only 25% up front. Something like inviting a sugar addict into a candy store. If managed responsibly, a BNPL account can avoid the debt vortex but many people do not appreciate the potential problems using this approach.
The woman in the NYT article can only blame herself but the upshot is, she lost control of her own spending for in the moment, impulse driven, non essential items. She described the buzz of buying and making an impression to those with more money with clothes and accessories she admits, she could not really afford.
Edward Bernays may or may not have anticipated the modern credit card but would probably not be surprised.
The woman in the article finally came to terms with her debt. She paid off the debt pilferring her retirement plans, she even sold much of what she bought by way of BMPL. It took her years but now, she is far more careful about her spending.
Not having any experience with a credit card, I do have a debit card, much less BNPL, I can only assume. There are already millions of people strung out on credit cards. People use one card to pay off another. From the article, the BNPL approach is casting a wider net to draw more, less solvent people into spending more than they can afford. BNPL just elevates the predatory nature of the economic System a bit more.
Contact me Donate to the Primer