Buy now, pay later plans have skyrocketed in popularity in recent years, adding yet another variable to consider when making spending decisions. Abigail Sussman, PhD, discusses the psychological biases that influence how we spend, budget and borrow, including why splitting payments can make purchases feel more affordable, why we underestimate irregular expenses, and why many people carry debt even when they have savings. She also shares research-based strategies to help you make more deliberate choices and better manage your money. Learn more about your ad choices. Visit megaphone.fm/adchoices