Afterpay lets you buy something instantly and pay for it in installments.

But is it as painless as it sounds?

Although Afterpay has improved its terms and conditions, it is concerning that the 'buy now, pay later' service normalizes debt and is a risky product for people on low or insecure incomes.

The safest way to shop remains to save and pay upfront so that you only buy what you need and don't end up spending beyond your means. If you do use Afterpay, we recommend:

  • only setting it up with a debit card, not a credit card
  • set spending limits and stick to them
  • set up payment reminders to avoid accidental late fees, though Afterpay does automatically set up multiple reminders for users
  • contact Afterpay immediately if you're having trouble making repayments.

Feel free to read more about the potential risks in using Afterpay in this article.

In the end I want you to enjoy your purchase and not getting punished for it...