Americans are increasingly turning to buy-now-pay-later loans for essentials like rent and groceries as costs rise. These short-term installment loans, which exploded since the pandemic, are easier to obtain than credit cards but carry hidden risks including overdraft fees, debt cycles, and lack of regulatory oversight. New York Times business reporter Stacey Cowley explains why 15-25% of Americans use them regularly and what their growth reveals about consumer financial desperation. Buy-now-pay-later loans have grown from pandemic impulse purchases to financing necessities, with Americans spending $160 billion through these loans last year, roughly double what they spent two years earlier.