©AP Photo/Julia Nikhinson, File
Pre-reading Questions:
I will read each question. Then, please answer them.
- Have you ever heard of buy now, pay later services? If so, where did you first hear about them? If not, what kind of payment methods are you more familiar with?
- Have you ever bought something by paying in several smaller payments? If so, was it easier or harder than paying the full price at once? If not, would you like to try this kind of payment in the future?
Vocabulary:
I will read the words, meanings, and sample sentences. Then, repeat after me.
- consequence /KON-si-kwens,/
[noun] – a result of a particular action or situation
The consequence of staying up late was feeling tired at school. - judgment /JUHJ-muhnt/
[noun] – the ability to make good decisions
Good judgment is important when choosing safe food to eat. - sensible /SEN-suh-buhl/
[adjective] – based on or acting on good judgment and practical ideas
Wearing a coat in winter is a sensible idea. - harmful /HAHRM-fuhl/
[adjective] – causing damage or injury
Too much screen time can be harmful to sleep. - transformation /trans-fer-MEY-shuhn/
[noun] – a complete change in the appearance or character of something
The park’s transformation included new trees and bright flowers.
Article Reading:
Please read the whole article. Then, I will check your pronunciation and intonation.
Buy now, pay later loans became more common in the past few years, especially during the pandemic when many families struggled with money problems. These loans allow shoppers to divide the cost into four or more payments, often with no interest. A national survey showed that around four in ten Americans under 45 used this system for food, entertainment, or medical needs. The growth is linked to higher prices and slow job creation, which pushed demand for easier payment choices. Well-known companies such as Klarna, PayPal, Affirm, and Afterpay became more visible in this sector. Reports from the government confirmed that these loans will soon be part of credit scores, making repayment history very important. Analysts said this could bring both positive results and serious consequences for future borrowing.
Experts explained that buy now, pay later loans can be useful if handled with care, but overuse may cause debt. Specialists warned that missing payments may lead to fees, account bans, or negative credit history. Advisers suggested that these loans should be limited to necessary purchases, like a refrigerator or computer. The judgment of consumers will decide if this trend stays a sensible option or becomes a harmful risk. Observers said the system shows a major transformation in how households manage money.
Experts explained that buy now, pay later loans can be useful if handled with care, but overuse may cause debt. Specialists warned that missing payments may lead to fees, account bans, or negative credit history. Advisers suggested that these loans should be limited to necessary purchases, like a refrigerator or computer. The judgment of consumers will decide if this trend stays a sensible option or becomes a harmful risk. Observers said the system shows a major transformation in how households manage money.
Comprehension Questions:
I will read each question. Then, please answer them based on the article.
- What type of loan became common during the pandemic?
- How do these loans allow shoppers to pay?
- According to the survey, who mostly used this system?
- What reasons caused the growth of these loans?
- Which companies became more visible in this sector?
Discussion Questions:
I will read each question. Then, please answer them.
- Have you ever saved money to buy something important? If so, what did you buy? If not, what would you like to save for?
- Have you ever borrowed money from someone? If so, who did you borrow from? If not, who would you ask for help?
- Do you agree that buy now, pay later loans are only good for necessary items?
- What other methods can help families manage money better than loans?
- If these loans become part of credit scores, how should people prepare?