This week's blogpost - https://bahnsen.co/4AXYRyJ

Trevor Cummings hosts the Thought Someday podcast with Brett Bonecutter and Blaine Carver to discuss his blog post, “The Cost of Paying Later,” focusing on the cultural shift toward “buy now, pay later” financing from firms like Affirm and Klarna for everything from small purchases to luxury items. They argue people fixate on monthly payments rather than total cost, making commitments easier and leading to “death by a thousand cuts” as multiple payments and subscriptions accumulate, especially with frictionless tools like Apple Pay. They note interest rates can range from 0% to 30% and question disclosure, delinquency, and why consumers choose these services over credit cards. Trevor emphasizes the importance of counting the full cost and trade-offs, balancing cash flow versus balance sheet, and recognizing how financing and easy credit can distort behavior and reduce flexibility over time.

00:00 Welcome and Setup

00:17 Buy Now Pay Later Boom

02:56 Monthly Payment Mindset

06:07 Keeping Up and Comfort Creep

09:02 Rates and Disclosure Questions

10:36 Layaway Versus Instant Credit

12:19 Is It Dangerous Socially

16:50 Why Not Use Credit Cards

19:38 Frictionless Spending Traps

20:53 Textbook Math Versus Behavior

24:49 Should Versus Could Afford

30:15 Balance Sheet Versus Cash Flow

37:32 Opportunity Cost and Compounding

39:58 Practical Takeaways and Wrap

41:44 Final Thoughts and Sign Off

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com