By JACKIE VELING of NerdWallet
“Buy now, pay later” payment plans are a popular financing option, especially around the holiday season. But these payment plans, which divide your total purchase into a series of smaller installments that you pay back over weeks or months, aren’t always the best choice for shoppers. If you want to use buy now, pay later to fund your gift-giving, consider whether the plan you’re offered at checkout charges interest or fees. Also ask yourself if you can pay it back on time and how likely it is that you’ll need to return the gift. Lastly, consider whether paying with cash is an option.