48: Why AfterPay Is Financially Toxic

<p>🎙 Bought it on AfterPay? You’re at risk of totally ruining your finances! AfterPay and other buy now, pay later services may seem like the answer to your money problems. But are they really that great, or are they financially toxic and predatory schemes leading you down the road to financial ruin? 🤔</p> <p><strong>This episode discusses topics like:</strong></p> <p>🌟 The real reason why your favourite retailers are offering AfterPay and other buy now, pay later services;</p> <p>🌟 Why shopping with AfterPay is like a kid throwing a tantrum; and</p> <p>🌟 Why AfterPay and other buy now, pay later services are a gateway drug to total financial ruin.</p> <p><strong>Links from this episode:</strong></p> <p>Episode transcript and show notes: <a href= "https://www.papermoneyco.com/gof48">https://www.papermoneyco.com/gof48</a></p> <p>Ready to finally take control of your money and build the life of your dreams? Join Camp FIRE! Camp FIRE is the premier membership community helping you get your money under control and reach your goals for a happy and fulfilling life. With tons of masterclasses, bonus content, spreadsheets, accountability and fun, get ready to say YES to a life you love. Become a Camper now for just $4.99 a month (or get 2 months of membership for free when you pay yearly): <a href= "https://www.papermoneyco.com/campfire">https://www.papermoneyco.com/campfire</a></p> <p>What is AfterPay?: <a href= "https://www.choice.com.au/shopping/online-shopping/buying-online/articles/what-is-afterpay"> https://www.choice.com.au/shopping/online-shopping/buying-online/articles/what-is-afterpay</a></p> <p>ASIC Study — Buy Now, Pay Later: An Industry Update: <a href= "https://asic.gov.au/media/5852803/rep672-published-16-november-2020-2.pdf"> https://asic.gov.au/media/5852803/rep672-published-16-november-2020-2.pdf</a></p> <p><strong>Credits:</strong></p> <p>Producer: Gonzalo Araya</p> <p>Editor: Gonzalo Araya</p> <p><strong>Time codes:</strong></p> <p>00:00 Hello and Welcome!</p> <p>04:27 What Is AfterPay?</p> <p>07:01 A