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  1. #1
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    Default Afterpay/zip pay/zip money...do you?

    Like the title says, do you use afterpay, or a similar system to make purchases?

    Would you recommend it?

    Pros/cons?

    I feel like I'm behind in the times not using them but I'm not sure about it?

    Although, I have my eye on something (I have had for about 2 months), and am looking at using zip... but I'm just not sure.

    It's the last of a now discontinued lounge suite I love, and was planning to use dfs tax return to purchase it.. was hoping to have it done by now. But we are still waiting on payg summaries 🤬 and I don't want to miss it.

    It's so comfy....

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    Default Afterpay/zip pay/zip money...do you?

    Nope. I don’t have a credit card, car loan, personal loan or interest free loan. I’ve always lived by the view that if you can’t afford to pay cash for something then you can’t afford it and shouldn’t buy it. (A house being the exception).

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    Personally I wouldn’t use them. I figure if you can’t afford something now then you should wait and save for it until you can. My BIL was recently refused a refinance deal for his home loan due to too many zip pay debts so I’m assuming it all affects your credit rating.
    I have no idea but if they have additional fees it certainly wouldn’t be worth it for me why pay extra when you could just wait and save.

    I do use a credit card, but I’ve never once paid a cent in interest. I just use it to get points ect and pay it off each month. I also like that it is there just incase too.

  4. #4
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    hakuna matata is online now The artist formerly know as babyhopeful
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    Quote Originally Posted by babyno1onboard View Post
    Nope. I don’t have a credit card, car loan, personal loan or interest free loan. I’ve always lived by the view that if you can’t afford to pay cash for something then you can’t afford it and shouldn’t buy it. (A house being the exception).
    Ditto to this. Although we did have a car loan. I just don’t like the idea of afterpay etc. I’ve heard so many people racking up major debt on it.
    I would use a credit card if I knew how to use it to advance with points etc but I don’t.

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    I have a zip pay going for my thermomix. It’s a 24 month interest free offer. The direct debit I have set up will pay it off sooner than that though. While I had the cash at the time to pay it outright, it would have completely killed our savings buffer. I am generally agreeable to the consensus above though that if you can’t afford to pay for it then and there, then you probably can’t afford to buy it full stop. I think there is a difference to using Afterpay etc for a big ticket item as opposed to general/everyday items. I mean, $2000 is a big amount of money to part with in one hit, for example. And you can pay off a lot of big lump sums in instalments from holidays to dental treatment, so I don’t see how using zip/afterpay is any different in that situation.

    We have a credit card, but I rarely use it. DH uses it and I could not tell you the last time the balance was paid off. Annoys me to no end because that costs us way more in interest than the monthly Zip fee for my TMX.

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    Never have never will use it. I had a car loan from 2001 to 2005. Paid it off 2 years early. Only other loan I’ve have is my house which will be paid off in 7.5 years with no interest being paid on it. Offset account thanks to an inheritance. I do have a credit card. I use it every month and I pay it off every month. I also have my qantas points linked to it. I’ll have enough points to take myself and the kids to see my sister within 18 months

    The young girl that lives in my granny flat has so many of these transactions going she has wracked up so much debt. She’s always bringing home bags of clothes and shoes that she doesn’t need.

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    Thanks for the replies.

    We have a "credit card", but have never paid interest and it's currently paid off in full, and in credit.... 4 months before the last purchases interest free period was due to expire. Actually it's a card we use at Harvey Norman and take advantage of the 6, 12 month interest free purchases. We don't have a physical card. We didn't activate it, nor is replacement. And just use the account number in store so aren't tempted for stupid things.

    There would be a $6/ month fee. Possibly a $25 establishment fee. Interest free period of 6-24 months depending on the promotion being offered.
    It would be paid off in full before it accrued interest, even if only 6 months, as we would still use the tax return to pay it off as soon as it's through.

    But as I said, we are currently still waiting on a payg summary/group certificate. 🤬🤬

    Normally I'd wait or save, but as I mentioned, they're discontinuing it, it's only current stock at the store. (1 of) and they can't order out in, and won't hold it.
    Last edited by shadowangel0205; 19-07-2019 at 22:26.

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    i use afterpay. i only buy things i can afford to pay for with cash upfront but it’s an interest free loan and financially, it makes sense to keep the money in your pocket for as long as possible with no penalty. i can see how those without discipline could easily get into trouble though. if you’re smart and disciplined then i don’t see any issue with using it.

  9. The Following 5 Users Say Thank You to turquoisecoast For This Useful Post:

    Bluebirdgirl (20-07-2019),Calstar (19-07-2019),LoveMyWay (19-07-2019),MissMooMumma (20-07-2019),MLadyEm (20-07-2019)

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    Default Afterpay/zip pay/zip money...do you?

    Quote Originally Posted by turquoisecoast View Post
    i use afterpay. i only buy things i can afford to pay for with cash upfront but it’s an interest free loan and financially, it makes sense to keep the money in your pocket for as long as possible with no penalty. i can see how those without discipline could easily get into trouble though. if you’re smart and disciplined then i don’t see any issue with using it.
    Are there establishment fees or monthly fees with zip or afterpay? If so it would seem more expensive to use these services than upfront cash payment as interest rates are so low at the moment. Money in the bank earning interest or offsetting a loan isn’t doing much nowadays.

  11. #10
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    Quote Originally Posted by shadowangel0205 View Post
    Like the title says, do you use afterpay, or a similar system to make purchases?

    Would you recommend it?

    Pros/cons?

    I feel like I'm behind in the times not using them but I'm not sure about it?

    Although, I have my eye on something (I have had for about 2 months), and am looking at using zip... but I'm just not sure.

    It's the last of a now discontinued lounge suite I love, and was planning to use dfs tax return to purchase it.. was hoping to have it done by now. But we are still waiting on payg summaries 🤬 and I don't want to miss it.

    It's so comfy....
    Yes I use Afterpay only - love it! Mostly I use it for smaller online purchases.. it’s just like a layby but you get it straight away!

    The only fees are if you don’t have money in your account when a payment is due you will get a late fee (I think it’s $10 but not sure - however they do give you another chance to have the money in your account).

    If you are disciplined and organised and ensure money is in your account on the due date - there are no problems.



 

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