[Post 1678] He Added Up His ‘Buy Now, Pay Later’ Debt & Online Loans. The Total Surprised Him | Money Mind

Summary

He avoids credit cards to prevent overspending. So how did 21-year-old Wang Zhaoxi end up owing nearly a month's salary?

In China, buy now, pay later services are built into everyday shopping and payment apps.

Wang discovers he owes about US$970 across multiple platforms, far more than he expected.

We examine how easy instalments can disguise growing debt, and what consumers should check before borrowing.