After pay. Is the new trend just ‘Before Broke’?

After pay. Is the new trend just ‘Before Broke’?

A new phenomenon Afterpay allows shoppers to ‘take now without payment’ and then pay over fortnightly instalments. No forms, credit checks or personal details are required and women everywhere are saying it’s a great way to get new clothes quickly.

Money saving expert Rachel Smith says it’s creating a cycle of overspending and will leave millions of us trapped in debt, at a time when 33% of Australian households are living pay-cheque to pay-cheque and many families don’t even know how much money they owe.

Smith says that nowadays, where there’s not a saving money mentality, that the solution is to a have a Spending Plan and Waiting List; allocating a certain % of each pay cheque for spending but waiting a while – perhaps a week or month – rather than ‘impulse buying’

Contact Media Stable Expert – Rachel Smith – Author of Underspent and Money saving Expert