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Ah yeah we first reported on how buy now pay later works right as it was exploding in popularity back in 2021. But now we're back gathering all the data it's just in and we have *** report card on who's using it. And some of the problems let me run you through them with easy ways to avoid making *** huge mistake that could land you in *** major financial bind. Buy now pay later loans are growing to more than $24.2 billion. And that means the risks are growing to risk number one. It can hurt your credit. Okay? Here's what they don't necessarily tell you when you're signing up for this. When you make an on time payment and everything is good. They don't necessarily report it to the credit agencies like your credit card does right? When you do that it helps your credit but not necessarily with this. But when you make *** late payment. Yeah. In some cases they will report that to the credit agencies and your Fico score drops. In fact one recent study shows already 42% of us, 42% nearly half have already made *** late payment. So that means credits being hurt across the country. How do you stop this? Put your bills for buy now pay later on auto pay. So you don't forget you don't miss it by *** day and hurt your credit score risk number to buy now. Pay later encourages overspending 70% of people admit to spending more than they would if they had to pay up front. Okay So how can you avoid overspending? Well, here's the deal. I know this seems obvious, but I have to say it if you can't afford it, don't buy it. Let me say that again. If you can't afford it, don't buy it. Buy now Pay later is merely *** tool that you can use to keep cash flow going in your house. Right? The same way you take *** loan on anything, but you can still afford it when you buy *** house, you can still afford it. You're just borrowing *** little money. So don't buy anything you can't afford. And experts say you should only have one or two of these loans open at any single time, no more than that. So you can keep track risk. Number three, you could get charged for deferred interest. You think you're making payments interest free, but it could only be for *** certain period of time. So if you don't pay off the balance by the deadline, you get an interest charge, how do you avoid it? Look for language like no interest if paid in full within six months and mark your calendar when the loan should be paid in full. Finally, risk number four. Buy now pay later. Doesn't have the same protections as your credit card. If you really want to do Buy now pay later before you go to *** third party agency. Look at your own credit card, *** lot of the credit cards are now offering the same kind of plan. For example, Amex has Planet Citibank has flex pay and if you're *** chase customer and you have *** chase credit card, they have the my chase plan. So before you go out and do that, stay inside your ecosystem with your credit card, they may be able to give you more protection and give you the buy now pay later. I'll put all these tips on my website, Rawson Reports dot com back to you.