शैडोइंग अभ्यास: The 'Buy Now Pay Later' Trap, Explained - वीडियो के साथ अंग्रेजी बोलना सीखें

Why is paying for so addictive?

They literally once financed a bottle of body wash.

You know what?

I'm gonna after pay this.

It's gonna make me feel less guilty to pay it in four installments of $81 or whatever.

That's like having a Black American Express to me.

I can use it anywhere, anytime I get ready.

I'm using Klarna to pay for these Chris Browns.

Look at this chart right here.

This shows the total non-housing consumer debt in America over the last 10 years.

And in 2024, Americans collectively owe more than $5 trillion, which is enough to pay for every NFL,

NBA, and MLB team 10 times over.

And to make matters worse, we are constantly surrounded by psychological tricks and hidden fees to drive us further and further into debt.

The worst of these tricks, the buy now, pay later programs that have been designed to take advantage of young adults.

So when you buy a $100 pair of shoes and you only have to pay $25 that day, and then the pair of shoes show up at my apartment three days later, the shoes are $25.

Why do I care if in two months I have to pay another $25?

I don't know me two months from now.

She can deal with that.

I Now Pay Later is a short-term financing option that is offered by companies like Affirm, Klarna, or Afterpay.

You'll typically see these options pop up on e-commerce stores, offering you the ability to buy what you want today while deferring your payment over a certain number of installments.

So if you're looking to buy a new suitcase for a trip you have coming up and it's going to cost you $300, dollars instead of paying that all today you could buy the suitcase today

and then split the 300 across four equal interest-free payments

and you might think great interest-free i can just sign up for these payments

and then worry about paying it sometime later down the road

but it's not quite

that simple these buy now pay later programs aren't necessarily groundbreaking

financial technology in fact buy now pay later programs are kind

of a newer modernized version of the old school layaway programs

that you would see at stores like kmart

and sears these layaway programs allowed you to place a deposit on an item like a dishwasher, for example, and then the store would reserve

that dishwasher for you to collect once you had paid off the dishwasher through their installment plan.

But these layaway programs kind of fell off throughout much of the mid-20th century, mainly due to the introduction of credit cards and revolving lines of credit.

Instead of using a layaway program and waiting to collect their item, people could just swipe a credit card, get their item today, and then worry about paying off that over the next couple months or years.

The only The problem is that a credit card will incur interest.

People realize that if they didn't pay their credit card down on time, they would end up owing more than they initially spent on the item.

So along came the modern marvel that is buy now, pay later, which gave you the best of both worlds.

Get your product today, paid off over a longer period of time, all while doing it interest free.

And that idea began hooking people in because buy now, pay later has seen some explosive growth over the last five years,

going from $2 billion in transaction volume in 2019 to 24.2 billion in 2021.

And it's projected to reach as high as $122 billion in 2025.

But this explosion wasn't just happening in a vacuum.

It's actually part of three major cultural shifts

that we've been seeing first is the financialization of everything meaning

we've moved from a completely cash-based society to a society in

which we look at even a five dollar coffee as an

opportunity to finance the transaction second we have the rise of social media driven consumption as influencers showcase luxury lifestyle

and products buy now pay later allows the average consumer the

ability to to experience those same things without actually incurring the cost today.

And third, we have the post-pandemic spending boom, which has consumers using buy now,

pay later as a form of revenge spending or buying things they feel like they missed out on during the pandemic.

Combine all of that with the declining financial literacy among most young adults, and you have the perfect storm to make buy now, pay later explode as a new mentality.

But why is this even a problem?

If they're not charging interest, how can they actually be taking advantage of me as a consumer?

To answer that question, you first need to look at the differences between buy now, pay later programs and traditional credit cards.

Because on the outside, they're basically the same thing.

Both financial devices allow you to buy something today

that you might not necessarily be able to afford or be willing to put cash down today for.

But a credit card usually involves some sort of approval process, application, review, and a credit report hits.

Meanwhile, buy now, pay later programs offer an almost instantaneous approval for your purchase in the moment.

Additionally, as we discussed, credit cards can accrue interest if not paid off by the end of the month.

And that rate can be at crazy high rates, usually around 19 to 23%.

On top of that, if you're late with your payment or you miss a payment, credit card companies can also add on late payment fees

that just end up water falling you into insane amounts of credit card debt off of fairly simple purchases to begin with.

And on the other hand, buy now pay later offers 0% interest, which sounds great, but that all depends on if you actually pay your payments on time.

If you don't, you'll be subject to late payment fees

that can range anywhere from two to $15 per payment

and going all the way up to 25% of the total value of the purchase you made initially.

And with all that said, buy now, pay later still might sound like a perfectly good alternative to credit cards, which is exactly what they want you to think because buy now,

pay later programs weren't necessarily designed to help the consumer like you or me.

They were designed for stores and brands that want to sell more through their website or in their stores.

After all, that's why brands are willing to pay two to 3% more

for their transaction fees to use a buy now pay later program versus a traditional credit card processor.

To give you an example, let's look at a $100 purchase.

If you bought a $100 item using a normal credit card on their site, the brand was typically going to incur about a $2.50 charge to process that payment.

And on the other hand, if you were to use a buy now pay later program, that transaction fee that the brand has to pay goes from $2.50 to about $5.

But the merchant fees are just the beginning when it comes to buy now pay later.

So let's look at how these companies actually make money beyond just charging the brand that hosts them on their website.

First, like we just discussed, they're gonna collect that merchant fee, which is anywhere from four to 6% of the transaction price.

Second, they profit from late fees, like we talked about earlier, which has turned out to be a pretty substantial revenue source for companies like Affirm and Klarna,

because one in every three users of these Buy Now, Pay Later programs actually ends up missing a payment at least once.

And third, every purchase that is made reveals something about you or your shopping habits.

And these companies have realized that that is very valuable information for other brands.

So they actually harvest a lot of the data from your checkout pages

and then sell it to other brands that can then use it in their marketing or in their ad target.

And finally, they benefit from the sheer volume of loans being opened up by packaging yours

and everybody else's debt together and selling it to larger financial institutions.

They can make money even when you pay on time.

In other words, they've created a system where they win no matter what happens to you financially.

So now let's look at buying an iPhone for $1,000.

When you reach the checkout page, you have three options.

Number one, pay the full $1,000 up front.

This is the simplest, cleanest, and easiest way to get out of the checkout scotch-free.

Option two, you could use a credit card with the typical 22% APR to purchase the phone.

And if you only made the minimum payments, you would end up paying about $1,480 over the course of five years, with 480 of that being the interest alone.

And option number three is you could use AfterPays for payment installment plan where you pay $250 today

and then $250 every two weeks until the plan is paid off, which sounds like the best deal to you.

You see, brands have mastered psychological manipulation throughout their website, but specifically on the last hurdle, which is the checkout page.

And they do this through four key tricks.

First, they exploit what psychologists call the pain of paying.

100

By splitting the cost over a longer period of time, your brain actually registers less financial pain than paying the full amount up front.

101

Second, they trigger what is called the temporal discounting, which is our tendency to value immediate rewards more than future benefits or otherwise known as instant gratification.

102

Pay just $25 today and it's yours sounds a lot better than waiting and saving up for it.

103

Third, they will create artificial urgency by simulating limited time offers in the checkout page.

104

And finally, they use colors and shapes to direct your eye exactly where they want you to be looking.

105

Have you ever noticed that the buy now, pay later button is often highlighted in a brighter color and it's sometimes even pre-selected when you reach the checkout page?

106

These aren't accidents.

107

These are specific design decisions to short circuit your brain to

108

making a financial decision more on an impulse than with rational thinking.

109

Instead of thinking about a $100 purchase rationally and over a longer period of time, they'd rather have you just click the pay $25 now and worry about it later on.

110

And again, this isn't necessarily a bad deal

111

because people are always looking for interest-free ways of purchasing things

112

so that their money can go and earn them more money while they're paying off the other thing that they purchased.

113

But to do so requires some financial education or experience.

114

And sadly, most Americans are completely undereducated when it comes to financial literacy.

115

So the instant gratification syndrome kicks in and they buy practically everything with buy now, pay later with no real concern that they will in fact have to pay that off at some point.

116

All they're worried about is the price that they will pay today, which is exactly how you end up with this.

117

I've done groceries.

118

I've done all kinds of crap on a firm in Klarna, but it adds up and then you are in a chokehold.

119

And in some ways it is worse than having credit card payments.

120

It's crazy.

121

Because buy now pay later is so easy to do.

122

People are starting to use it on more and more occasions where it's really not meant to be used.

123

Instead of just using it on a big purchase like a new fridge or a TV,

124

they're starting to use it on smaller things and truly financing items that have no business being financed.

125

A crazy story that we recently saw is that Klarna is now on DoorDash,

126

which allows you to finance your $15 burrito over four payments of $3.75 instead of paying the full $15 upfront.

127

Again, not a necessarily terrible thing when looked at in a vacuum,

128

but when you expand this to consider that someone who's financing a burrito is also probably financing a lot of other things, that's when the real problem starts to arise.

129

Bad spending habits like this lead to what we call loan stacking, pretty much what it sounds like, taking out loan after loan after loan and stacking them on top of each other.

130

And because Buy Now Pay Later programs make it so easy to do so, most consumers don't even realize how much debt they're actually accruing.

131

In fact, in 2022, 63% of buy now, pay later borrowers had more than one loan going at one time.

132

And this is where it gets really scary.

133

Because these programs are designed to offer credit with little to no approval process, it's almost like they're targeting people that don't know how to manage their money.

134

All they see is, oh, I can buy this $1,000 thing for $250 today, and they just click buy.

135

When in reality, over 69% of buy now, pay later users are already in debt on another credit card.

136

And 28% of buy now pay later borrowers are between the ages of 18 and 24 years old.

137

Most of these people don't even understand the concept of how a credit card works, and by giving them this buy now pay later option, it's almost like they have this unlimited stream of money that never needs to actually be paid off.

138

Again, don't get me wrong, there are definitely some advantages to the system if you know how to play it, but the vast majority of people using the system are not taking advantage of it,

139

they are just getting taken advantage of.

140

So what do you do?

141

As a consumer, should I completely stay away from buy now pay later, or are there some circumstances where it makes sense?

142

And to answer that question, the most important piece of advice I can give you is to never spend more than you currently have,

143

whether that be through a credit card or a buy now, pay later option.

144

If you don't have the cash in your bank, don't spend it.

145

And that is by far the easiest way that you can keep yourself out of credit card debt.

146

And if you feel confident in your financial abilities, feel free to use a credit card or buy now, pay later option to earn more interest on your cash while sitting in your account versus just spending it immediately.

147

But if you don't feel confident about this, treat your credit cards in a buy now pay later program as

148

if it's hooked directly up to your checking account

149

if you spend 100 that's 100 coming directly out of your

150

account another tip i have is to avoid stacking these loans

151

because that is where things can get very messy very quickly

152

if you start financing weekly expenses like gas groceries or

153

that friday night chipotle bowl it becomes a slippery slope

154

because it is 100 times easier to get into debt than it is to get out of debt

155

but there you have it the truth about buy now pay

156

later these companies spend millions of dollars in psychological research to get you to spend more than you can actually afford.

157

But now you know a little bit more about how to protect yourself.

158

And if you like this video, make sure to check out this video that covers the business of Formula One

159

and how billionaires use debt to fund their crazy hobby of racing.

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✨ अनुशंसित वीडियो

323 वाक्य

संदर्भ एवं पृष्ठभूमि

इस वीडियो में, वक्ता ने 'खरीदें अब, बाद में भुगतान करें' योजना पर चर्चा की है, जो विशेषकर युवा वयस्कों के लिए बेहद लोकप्रिय हो गई है। यह एक वित्तीय विकल्प है जो उपभोक्ताओं को आज उत्पाद खरीदने और बाद में किस्तों में भुगतान करने की सुविधा देता है। इस सुविधा ने लोगों को आसानी से ऋण में गिरने का अवसर दिया है, जिससे उनके वित्तीय निर्णय प्रभावित हुए हैं। इसके अलावा, वक्ता ने इस योजना के बढ़ते प्रभाव और इसके पीछे की मनोवैज्ञानिक चालों पर भी चर्चा की है।

दैनिक संचार के लिए शीर्ष 5 वाक्यांश

"मैं इसे किस्तों में भुगतान करूंगा।" - यह वाक्यांश बताता है कि आप एक खरीदारी को किस्तों में चुकाने का इरादा रखते हैं।
"यह तुरंत उपलब्ध है।" - इसका अर्थ है कि आपको उत्पाद तुरंत मिल जाएगा, जो अक्सर 'खरीदें अब' योजनाओं का आकर्षण होता है।
"मुझे इस पर बाद में विचार करना है।" - यह संकेत करता है कि आप किसी निर्णय को टाल रहे हैं, जो अक्सर वित्तीय मामलों में होता है।
"क्या यह योजना फायदेमंद है?" - यह प्रश्न आपको योजना के लाभ और हानि पर विचार करने के लिए प्रेरित करता है।
"मैंने पहले से ही भुगतान कर दिया है।" - इसका अर्थ है कि आपने पहले से किसी चीज़ के लिए भुगतान कर दिया है, जो वित्तीय प्रबंधन के लिए जरूरी है।

चरण-दर-चरण शैडोइंग गाइड

इस वीडियो को समझने और अपने अंग्रेजी बोलने के कौशल को सुधारने के लिए, आप निम्नलिखित चरणों का पालन कर सकते हैं:

वीडियो को ध्यान से सुनें और समझें कि वक्ता क्या कह रहा है।
मुख्य वाक्यांशों पर ध्यान दें और उन्हें लिख लें, जैसे कि "मैं इसे किस्तों में भुगतान करूंगा।"
अब, वीडियो को फिर से चलाएं और हर वाक्य को धीरे-धीरे दोहराएं। इस प्रक्रिया को शैडोस्पीक कहा जाता है, जो आपकी उच्चारण और प्रवाह को सुधारने में मदद करता है।
प्रत्येक वाक्य को विभिन्न तरीकों से बोलने की कोशिश करें, इससे आप अपनी शैडो स्पीच में विविधता ला सकेंगे।
अंत में, अपने बोलने के कौशल को सुधारने के लिए नियमित रूप से इस प्रक्रिया को दोहराएं।

इस प्रकार, अंग्रेजी बोलने का अभ्यास करने के लिए इस वीडियो का उपयोग करें। नियमित रूप से शैडोइंग साइट पर जाकर आप अपने कौशल को और भी बेहतर बना सकते हैं।

इस वीडियो का व्याकरण

वक्ता जिन संरचनाओं का सबसे अधिक प्रयोग करता है, वीडियो के असली शब्दों के साथ:

संरचना	वीडियो में
शर्त वाले वाक्य if + उपवाक्य, will/would + क्रिया — शर्त और उसका नतीजा	If you don't, you'll be
Passive voice be + past participle — ज़ोर इस पर कि क्या होता है, न कि कौन करता है	have been designed · is offered · were designed
Present perfect have/has + past participle — बीता हुआ काम जिसका असर अभी भी है	have been designed · has seen · we've moved
Relative clauses who / which + उपवाक्य — व्यक्ति या वस्तु के बारे में अतिरिक्त जानकारी	trillion, which is · boom, which has · cards, which is

शैडोइंग तकनीक क्या है?

शैडोइंग (Shadowing) एक विज्ञान-समर्थित भाषा सीखने की तकनीक है जो मूल रूप से पेशेवर दुभाषिया प्रशिक्षण के लिए विकसित की गई थी। विधि सरल लेकिन शक्तिशाली है: आप मूल अंग्रेज़ी ऑडियो सुनते हैं और तुरंत इसे ज़ोर से दोहराते हैं — जैसे वक्ता की छाया 1-2 सेकंड की देरी से। शोध से पता चलता है कि यह उच्चारण सटीकता, स्वर, लय, जुड़ी हुई ध्वनियाँ, सुनने की समझ और बोलने की प्रवाहशीलता में काफ़ी सुधार करता है।

शैडोइंग तकनीक: पूरी चरण-दर-चरण गाइड पढ़ें →

शैडोइंग अभ्यास: The 'Buy Now Pay Later' Trap, Explained - वीडियो के साथ अंग्रेजी बोलना सीखें

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इस वीडियो का व्याकरण

शैडोइंग तकनीक क्या है?