Skip buy-now-pay-later this Christmas; use lay-by instead, or ask for hardship
Buy-now-pay-later and wage advances are costly debt spiral traps; free counselling and hardship schemes offer real relief.
With petrol near $2 a litre and Christmas weeks away, many Australians are tempted by buy-now-pay-later schemes or wage advances to bridge the gap. Buy-now-pay-later and wage advances are financial traps that cost you money and trap you in debt.
Buy-now-pay-later pushes payments into the new year, leaving you paying for this Christmas well into January. Wage advances let you borrow against future pay but charge steep fees.
Each draw erodes your future income. Instead, try the old lay-by option: put money aside now, own it outright.
For real help, contact the National Debt Helpline (1800 007 007 or ndh.org.au) for free counselling. One Stop One Story service advocates with your providers on your behalf.
Ask Izzy connects you to local support services for food, shelter, and financial help.
- 5
- Rate rises in Australia this year
- Near $2 a litre
- Petrol price
- 1800 007 007 or ndh.org.au
- National Debt Helpline
Why it mattersMany Australians don't know the true cost of buy-now-pay-later and wage advances; free help is available but underused.
AustraliaAustralian households facing cost-of-living pressure now have low-cost or free services to avoid expensive debt traps.
