Hey guys! Today, I want to talk about something that’s getting really popular these days – Buy Now, Pay Later, specifically Shopee PayLater. Yep, I use it too – not just for myself, but as a business owner. And let me tell you, while it’s super convenient, there are some hidden risks you need to know about.
So why is BNPL so tempting? It makes getting what you need super easy, especially if you don’t have cash upfront. For me, running an education company, I often teach people about investments. Most of them aren’t exactly loaded, so paying for courses or tools upfront is tough. That’s where BNPL comes in handy.
Here’s an example: let’s say something costs RM500, and you split it into 12 monthly payments of RM50. Simple math? Not quite. 50 x 12 = RM600. That’s RM100 extra just because you split it. But sometimes, it’s necessary, especially for essentials or tools that generate income.
Now, here are 3 essential mindsets you MUST have if you’re going to use Buy Now, Pay Later:
1️⃣ Only Use BNPL for Necessities, Not Luxuries
Ask yourself: “Do I really need this, or do I just want it?”
If you’re buying something to generate income – like a phone for content creation or selling online – then it can make sense. But if it’s just a luxury item, think twice. Using BNPL for luxuries can trap you in debt you don’t need.
2️⃣ Discipline is EVERYTHING
You must pay on time. Late payments = high fees and damage to your credit score. This affects future loans, car financing, or even business funding. Don’t risk it – only use BNPL if you are 100% sure you can pay the installments on time.
3️⃣ Practice “Delete Gratification”
This is a game-changer. If it’s something you want but don’t need, put it in your cart and wait 7 days before purchasing. That little pause helps your impulse die down and prevents unnecessary spending. Often, by the end of the week, you might realize you don’t even want it anymore.
💡 Bottom Line:
Debt isn’t evil. The problem is when people misuse it. Used wisely, BNPL can lighten financial burdens and even help you invest in your future. The key? Knowledge, discipline, and the right mindset.
So, next time you think about hitting “Buy Now,” pause and ask yourself: Is this truly necessary? Can I pay it on time? Am I buying it for growth or just gratification?
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