Is BNPL always ideal?

There is a big shift in how young consumers spend and access credit these days, which has led to a boom in the BNPL space.  In fact, the BNPL model is fast evolving as consumers increasingly seek greater choice and flexibility in the way they make payments when shopping online or in-store. The rapidly growing BNPL marketplace is benefiting major players like $Affirm Holdings(AFRM.US)$, $Afterpay Ltd.(AFTPF.US)$,  $PayPal(PYPL.US)$ and those making a foray into the BNPL market such as $Apple(AAPL.US)$, $MasterCard(MA.US)$,  $Shopify(SHOP.US)$, $Block(SQ.US)$, $Visa(V.US)$.  While BNPL offers are normally interest free, consumers may not always be getting a good deal. Borrowing money does not come without consequences. BNPL plans would normally be used for wants rather than needs. It becomes more challenging for consumers to monitor their spending carefully or to stick closely to their monthly budget to remain on track with their goals. BNPL options tend to promote impulsive spending which could entice consumers to take on more debts. There could even be penalty fee or interest should they default on their payments. While BNPL appears very tempting for consumers, the risks involved are very real.  For the sake of their financial health, it may be wiser for consumers to save up first than to buy what they want first without saving for it. This applies to investment as well. On the surface, using leverage may seem appealing with huge returns. It is never a good idea to overdo it with borrowing money. The greater the leverage, the larger the returns may be, but the losses can be higher as well. The use of leverage tends to make the returns more volatile and thus harder for average investors to stomach the risks involved. Using leverage could lead to a higher chance of success for those who are knowledgeable about the stocks they invest in and have a higher risk tolerance.