Loads of Aussie retailers are offering discounts to online shoppers who use Afterpay today – but financial experts say it might not be the bargain we think is is.
AfterYAY Day offers huge discounts to shoppers who spend up large online and pay using AfterPay's buy now, pay later service.
Retailers involved include The Iconic, Peter Alexander, Tony Bianco, Novo Shows, Mac Cosmetics, Seafolly, Glassons, Bonds and Lee.
But the Barefoot Investor’s Scott Pape reckons we should be mindful before loading up our shopping carts:
“Afterpay is just another way to spend money that you don’t have. Australian households have some of the highest household debts in the world – so my advice is: don’t buy crap you don’t need.”
But while Afterpay can lead us to spend more than we need – it’s still safer than credit cards.
Listen to what Scott has to say on Afterpay here: