Terms of Service<\/a>\u00a0on the Afterpay website state:<\/p>\n\u201cAfterpay reserves the right to report any negative activity on your Afterpay Account (including late payments, missed payments, defaults or chargebacks) to credit reporting agencies.\u201d<\/p>\n
This means that your credit score may be affected if you fail to meet repayments.<\/p>\n
And last year alone Afterpay netted $11 million in late payment penalties.<\/p>\n
<\/h3>\nAnother way to buy<\/h3>\n
Financial independence is not about racking up debt for shopping.<\/p>\n
It is about saving money for a rainy day, rewarding yourself with purchases when you hit savings targets, and protecting your borrowing capacity for appreciating assets \u2013 not depreciating items.<\/p>\n
Additionally, you never know when you will need money to pay for an emergency or capitalise on an opportunity.<\/p>\n
You or a family member may become sick, or you might want to expand your property portfolio.<\/p>\n
For all these things it helps to have extra cash on hand.<\/p>\n
So if you can\u2019t afford it, don\u2019t buy it. Sure it\u2019s hard, but short term pain is long term gain.<\/p>\n
<\/h3>\nNeed a spotter?<\/h3>\n
Enforcing good spending habits isn\u2019t something you can just start doing overnight.<\/p>\n
Often it takes a guiding hand to help you work out a plan, not to mention someone who can hold you accountable \u2013 just like a personal trainer.<\/p>\n
If you\u2019d like to know more about how you can start implementing good spending habits that will set you on a path to financial independence, get in touch. We\u2019d love to help out.<\/p>\n
Disclaimer:<\/strong>\u00a0The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and\u00a0may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.<\/p>\n","protected":false},"excerpt":{"rendered":"Numquam non iusto quod eum dolor porro quia accusamus nihil qui rerum aut nemo illo deserunt velit culpa voluptatem reiciendis non ut maxime et ab sed repellendus quod nisi qui occaecati sit omnis inventore aliquam rem est aspernatur id fugit non voluptates neque vel molestias pariatur labore quo nihil ea rerum et dolorem explicabo beatae aspernatur autem blanditiis aut alias rem earum quis consequatur enim vitae quo cumque animi.<\/p>\n
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