Kristie was looking at some fairly expensive art online last night and starting adding things to her cart when she noticed a little logo for “AfterPay”

“No payment today!!”

We’ve all heard about the buy now, pay later schemes and how they can lead you down a really dark hole.

So should we be weary about the growing trend of AfterPay?

Nicky Breen from joined us on the show to explain how it works and what we should be worrying about.

AfterPay divides your total cost into 4 payments made every 2 weeks with no upfront interest.

So what’s the catch?

They’re banking on people who DON’T make repayments on time, because that’s when the fees start.

Nicky warns that it’s really easy to loose track of what you’re spending with AfterPay because you’re locking yourself into an 8 week payment plan with every purchase.

Her tip: If you’re going to sign up for any of these services, read the fine print, make sure you set a realistic budget, know what the fees are and make sure the money is in the right account!

Hear our full chat with Nicky here: