90% of young people had financial troubles in 2022, and 27% used 'buy now, pay later' services
- Written by Lucas Walsh, Professor and Director of the Centre for Youth Policy and Education Practice, Monash University
ShutterstockBuy Now, Pay Later (BNPL) services have dramatically changed the landscape of personal lending, largely by being easy to access and not charging interest – thus avoiding national credit laws.
In the 2021-22 financial year, according to data from the Reserve Bank of Australia, the number of active BNPL accounts in Australia rose...
