You've likely been tempted to use Buy Now, Pay Later (BNPL) on a pair of designer sneakers or during a spending flurry during the holidays. But what about to put food on the table? It turns out that tapping into payment plans and other forms of debt to pay for groceries is more common than you think.
According to a report released by the Urban Institute, many US households are tapping into payday loans, BNPL, credit card debt, and their savings to cover living essentials. Breaking it down, 60.5% of adults resorted to credit card spending, 19% had to pull from their savings and 3.5% covered their groceries with Buy Now, Pay Later.
