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Millennials are financing everything from bed sheets to concert tickets

Millennials want luxury sheets, Peloton exercise bikes and music festival tickets, but they don’t always have enough cash or a desire to put them on a credit card. So they are turning to an even more expensive method of payment: financing. In recent years, payment companies including PayPal PYPL, +1.01% Affirm and Bread have created installment plans for retailers that give consumers the option to finance the weirdest purchases over time.

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These payment methods have taken hold at a time when millennials have been more reluctant than their parents to use credit cards.

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