The Rise of the Buy Now, Pay Later Industry Is Redefining Personal Debt
Hilary Martin, an Australian buyer's agent, has revealed that her biggest month brought in $180,000 in earnings, despite requiring only a few weeks of training to get started. The industry is experiencing an "exciting" shift due to changes in interest rates and property prices, with buyers' agents earning commissions from each home sold. Martin's agency has seen high demand for its services, allowing it to capitalize on the growing trend of buy now, pay later models.
- This rapid growth highlights the evolving nature of personal debt in Australia, where consumers are increasingly opting for flexible payment plans that blur traditional notions of credit and savings.
- As the buy now, pay later industry continues to expand, what implications will this have for Australian consumers' financial stability and long-term economic prospects?