The pros and cons of buy now, pay later

Buy Now, Pay Later is a payment method rapidly becoming a prevalent trend among shoppers. Sometimes called a “Point of Sale” installment loan, BNPL is a short-term financing option that often charges no interest or fee except for missed payments. Why is this payment option becoming so popular? And, is it a wise choice for personal shopping and financial well-being?

Read the full article in the Finances FYI section of The Seattle Times, sponsored by 1st Security Bank.