Buy now, pay later is one of the latest financing trends, often considered a way of making purchases easier for customers. Here, using a third-party provider, one can make payments on those purchases later. While this may seem quite convenient, the offer comes with its own risks that can result in an unnecessary debt burden. To avoid this, it helps to be wary of the following common buy now, pay later mistakes: 1. Ignoring the fine print This is one of the most common buy now, pay later people tend to make. Here, they may be tempted to skip reviewing the jargon-heavy and complex terms and conditions. However, this can cause more harm than one expects, as the fine print contains all the important guidelines, such as late payment fees, number of installments, payment methods, and other crucial buying information. Checking the terms thoroughly can help one avoid a lot of trouble while using the buy now, pay later (BNPL) payment method. 2. Making too many purchases It is common to develop a false sense of security when accessing the buy now, pay later offer for a purchase. One can end up assuming that they will always have enough funds to pay off dues later.

Online shopping has made getting what you want quite easy. Additionally, with perks like doorstep delivery, extensive inventory, quick delivery dates, and flexible payment options, shopping through online retailers has become quite indispensable for many people. Yet, it is not without its risks. However, most issues with online shopping can be easily avoided if one learns to avoid the mistakes most people make. Here are some of the errors one should know: 1. Choosing unknown sellers One may want to support local or lesser-known retailers. While this is done with good intentions, it’s quite a risky undertaking. If one does not practice caution, they might end up falling for a scam. This will not only cost them a lot of money but also expose them to identity theft. The best thing to do is completely avoid buying from unknown retailers. However, if one really wants to shop through retailers that are not yet popular, it is crucial to do some research. For starters, one should check whether the retailer has a legitimate address, phone number, and customer service. Then, one should check online for reviews and consumer complaints. This will help to verify the authenticity of the retailer. 2. Shopping via unknown email links People often receive a lot of emails with irresistible deals and attractive offers.

Some people, like immediate family and friends, can be challenging to shop for because one wants to ensure one has the perfect gift. But a few people are impossible to shop for since they have extremely discerning tastes. While it may be tempting to get a gift card in such cases, even this solution has its issues. Gift cards may seem straightforward, but people often make mistakes when shopping for one.  Confuse the different kinds of gift cards Broadly, gift cards are two types: open-loop and closed-loop. Open-loop gift cards are not tied to a specific retailer or brand.  They are mostly backed by a credit card issuer or a big bank, and they can be used anywhere. However, they come with an activation fee. Typically, this fee ranges from $3 to $7, depending on the issuing partner and other attributes. On the contrary, closed-loop cards work only on specific websites or stores. But the good thing is they do not have any fees associated with them.  So, which card should you opt for? Closed-loop gift cards are recommended over open-loop gift cards. One of the top gift card mistakes to avoid is going with the ones that are associated with a payment service brand. These cards are not as good as cash because they attract a fee, which usually decreases the balance over time.