You may have seen ads for services that promise to get you money fast or sell you something today with “no interest to repay” for a long period of time.

These offers are best avoided because the lenders behind them tend to charge higher interest rates and fees than banks or credit unions, says First Nations Foundation CEO Phil Usher.

They also tend to be less flexible if you can’t pay the money back.

In the below video, Phil Usher explains how those extra charges can add up quickly and derail your budget.