I can’t stop using Klarna to buy now and pay later – and I’m suffering the consequences

If you thought of buying something in instalments a decade ago, it might be to pay off a car, or a new sofa. During the pandemic, though, BNPLs became more widely used on far smaller purchases - (Getty)

You will have seen its baby pink logo, placed seductively at the bottom of the checkout window. Today it’s ubiquitous, lurking on practically every online shop, from Asos to Deliveroo and John Lewis. I avoided clicking it for a while, then eventually gave in: this is Klarna, one of the many buy now, pay later (BNPL) services that allow you to split payments for everyday items into three, zero-interest instalments, or pay within 30 days. Sounds like a perfect way to create some financial flexibility, right? That’s until you get completely hooked.

It began when I needed a dress for a special occasion, but couldn’t afford one until payday. So I opted to actually pay for it 30 days after purchase. I was amazed by how easy it was. I didn’t have to jump through any major hoops to obtain the credit from Klarna, or fill out any lengthy forms. But then I got trigger-happy.