Aug 29, 2021

Question of the Day: What percent of 18-24 year olds have used a Buy Now Pay Later (BNPL) service in 2021?

Answer: 61%


  • Have you ever seen/used a Buy Now Pay Later (BNPL) service?
  • What do you think are the pros/cons of a service like this?
  • Want to learn more about BNPL? Check out this FinCap Friday which includes a quiz and an explainer video on the topic. 

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (The Ascent):

In July 2020, only 37.71% of consumers aged 18 to 24 had used a buy now, pay later service, but that figure jumped to 61.16% in 2021, showing 62% growth in less than a year...These findings align with recent research from PYMNTS, which shows that younger consumers are looking for flexible yet responsible ways to pay for purchases.


Wondering what's new when it comes to credit products? Here's an August 2021 update

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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