As people in the United States struggle with rising costs, they are increasingly turning to “buy now, pay later” loans for essentials such as rent and groceries.Stacey Cowley, a business reporter for The New York Times, explains the draw and the hidden risks of the loan model.Guest: Stacy Cowley, a business reporter at The New York Times, with a focus on consumer finance.Background reading:&nbsp;<ul><li><a href="https://www.nytimes.com/2026/08/17/business/buy-now-pay-later.html" target="_blank" rel="noopener noreferrer">“Buy now, pay later”</a> lenders have pitched loans for needs like electricity and rent.</li><li>They got to live a life of luxury. <a href="https://www.nytimes.com/2025/10/07/magazine/buy-now-pay-later-klarna-affirm-shopping.html" target="_blank" rel="noopener noreferrer">Then came the fine print</a>.</li></ul>Photo: Amir Hamja for The New York Times
For more information on today’s episode, visit <a href="http://nytimes.com/thedaily?smid=pc-thedaily">nytimes.com/thedaily</a>. Transcripts of each episode will be made available by the next workday. Subscribe today at <a href="http://nytimes.com/podcasts">nytimes.com/podcasts</a> or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here <a href="https://www.nytimes.com/activate-access/audio?source=podcatcher">https://www.nytimes.com/activate-access/audio?source=podcatcher</a>. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for advertising.

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