Hi guys, Welcome to the Advanced Video Search Engine, and you are watching The dark side of Buy Now Pay Later apps. That video is uploaded by Preet Banerjee at 2021-03-25T16:05:00-07:00. We are promoting this video only for entertainment and educational purpose only. So, I hope you like & enjoy it. [fYM0eLvds1g]
| Name | The dark side of Buy Now Pay Later apps |
| Video Uploader | Video From Preet Banerjee |
| Upload Date | This Video Uploaded At 25-03-2021 23:05:00 |
| Video Discription | Think twice before using Buy Now Pay Later apps. (Timestamps below) There are no free lunches. Find out how expensive it is to offer (for a merchant), how that can increase prices, and how using other methods to pay might be better for you (and also for lower income households!) NEW: See the follow up to this video for even more downsides to BNPL https://youtu.be/8yjKYmJ6cI0 ***Correction: As pointed out by the (great) blog "Michael James on Money", I should have factored in that the BNPL company collects a riskless $25 payment upfront. So really, they lent out $69 over 6 weeks. That increases the effective APR on their loan from 55% to 76%. For a more detailed look, visit: https://www.michaeljamesonmoney.com/2021/03/buy-now-pay-later-apps.html 00:00 What are "Buy Now, Pay Later" companies? 00:46 Example of a Buy Now Pay Later transaction 01:12 How do these services make money? 03:10 How much does it cost the retailer? 05:05 How lower income households subsidize richer households 08:30 Is using a regular credit card transaction better? 10:09 What's the ideal way to pay for discretionary expenses? 11:09 Delinquency rates for credit and Buy Now Pay Later 11:35 How much revenue do missed payments generate? Resources and links mentioned in the video: How lower income households subsidize the rewards programs of wealthier households: https://www.nytimes.com/wirecutter/money/who-pays-for-rewards/ Factoring Accounts Receivable: https://corporatefinanceinstitute.com/resources/knowledge/accounting/accounts-receivable-factoring/ Credit Card Competition Tribunal in Canada: 1: https://www.cbc.ca/news/business/competition-bureau-won-t-appeal-ruling-on-credit-card-fees-1.1873730 2: https://kitchener.ctvnews.ca/competition-bureau-case-against-visa-mastercard-fees-dismissed-1.1379630 How to calculate APR on short term loans: https://consumerfed.org/pdfs/AAAPL-How-to-Calculate-Interest-Rate.pdf How to calculate the interest payable on a credit card: https://corporatefinanceinstitute.com/resources/knowledge/credit/average-daily-balance-method/ WATCH MORE OF MY MOST POPULAR VIDEOS: When does renting make more sense than buying a home?: https://www.youtube.com/watch?v=KAMeI4uHAFE How to calculate your Net Worth: https://www.youtube.com/watch?v=KhSnNtdYR9Y How to find more money to save: https://www.youtube.com/watch?v=Tl-e7tIgcl0 PODCAST: "Mostly Money" - A deeper dive on all things money: https://www.buzzsprout.com/5821 ABOUT ME: I've hosted a personal finance TV show on the Oprah Winfrey Network, used to be a stockbroker, went to school to become a racecar driver (failed), founded a fintech company that provides financial planning software to financial advisors who want to help more people who don't have lots of money, and I consult with wealth management companies on commercializing applications of behavioral economics/finance. I'm also quite fond of donuts. SUBSCRIBE FOR MORE VIDEOS LIKE THIS: http://www.youtube.com/user/preet182?sub_confirmation=1 MY BOOK TO LEARN ABOUT THE BASICS OF PERSONAL FINANCE: https://www.amazon.ca/gp/product/0143183516/ref=as_li_tf_tl?ie=UTF8&camp=15121&creative=330641&creativeASIN=0143183516&linkCode=as2&tag=whercom-20 FOLLOW ME ON TWITTER http://twitter.com/preetbanerjee WEBSITE: http://www.preetbanerjee.com #MoneySchool #PersonalFinance #LearnAboutMoney #LearnToInvest #money #stockmarket #finance #howtoinvest #budgeting #budget #savemoney #insurance #financialplanning fYM0eLvds1g |
| Category | Education |
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