Expert: 3 finance mistakes women are more likely to make in their lifetime
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
5 days ago
- Fox News
Financial influencer shares keys to improving your credit score
Financial influencer and entrepreneur Haley Sacks discusses Gen Z's money habits and ways to improve your credit health on 'Fox & Friends.'
New York Post
09-08-2025
- New York Post
Financial expert warns young Americans against ‘buy now, pay later' plans as shopping tactic growing in popularity
'Buy now, pay later' plans are rapidly growing in popularity among young Americans, but not everyone is convinced they're a smart financial choice. Haley Sacks, a personal finance influencer with over a million followers online, issued a chilling warning about BNPL plans on 'Fox & Friends' Tuesday, calling the practice 'predatory.' Advertisement 'My take is that you should not use 'buy now, pay later' at all,' Sacks said. 'If you need to finance something, use a credit card and a lot of credit card companies have 'pay over time' options with 0% interest.' Sacks argued credit cards offer important benefits BNPL plans don't, such as consumer protection and the opportunity to build credit. 'Buy now, pay later' services let buyers split purchases into multiple installments instead of paying the full price upfront. However, if users aren't careful to make payments on time, they may face late fees. Advertisement 3 'Buy now, pay later' plans are rapidly growing in popularity among young Americans, where buyers pay with multiple installments instead of the full price upfront. Bloomberg via Getty Images 3 Haley Sacks, a personal finance influencer with over a million followers online, warns against the practice, calling it 'predatory,' and saying that it doesn't offer benefits like consumer protection that credit cards do. fizkes – They're expected to hit record transaction volumes this year after initially being marketed as lower-risk alternatives to credit cards. But financial experts warn that reliance on these payment plans can lead to overspending and a rapid accumulation of debt if consumers aren't on top of them. A LendingTree survey from April found that more Americans are using BNPL services for everyday essentials like groceries, and that 40% of users admitted to missing a payment on at least one loan in the past year. Advertisement 3 Experts say the plans can lead to overspending and debt if consumers aren't on time with payments. Bloomberg via Getty Images Factors that could be leading to the shift are elevated prices, high interest rates, and student loan payments, which resumed less than two years ago after a stop during the COVID-19 pandemic. Sacks says these factors are part of why these types of deferred payment plans have resonated with a struggling generation of young people. Advertisement 'Gen Z is facing so much inflation, wages have not kept up, and this is a way to actually be able to get things that you want,' she said. 'But of course, then you're paying the price.' According to the LendingTree survey of 2,000 consumers aged 18 to 79, nearly half of American adults have used a BNPL service such as Klarna or Affirm. Millennials made up the largest share, but Gen Z and Gen X weren't far behind.
Fox News
05-08-2025
- Fox News
Financial influencer warns young Americans about ‘Buy Now, Pay Later' trap
Financial influencer and entrepreneur Haley Sacks joins 'Fox & Friends' to explain why young people should avoid 'Buy Now, Pay Later' options and shares other financial tips.
