An Australian bloke has slammed the state of the country after seeing a young consumer put his new pair of shoes on a payment plan.
The Sydney man said he saw someone using payments platform Afterpay for the purchase.
Services like Afterpay allow consumers to pay for products in installments with little to know interest repayments, until a payment is made late.
‘I just saw someone using Afterpay to buy a pair of shoes that were about $200,’ he said.
‘Like, if you need to use Afterpay to buy a pair of shoes, you really need to reassess your life.’
The video copped immediate backlash, as consumers said paying for expensive items in four installments helped ease their financial stresses.
‘Are you for real? We are all out here trying to survive,’ one wrote.
‘I have like $30,000 in savings and I’ll still use Afterpay to buy shoes,’ another said.
‘Nice, let’s all use credit cards at 17 per cent interest,’ a third wrote sarcastically.
But the Australian defended his stance, saying he only made the video because he ‘felt sorry’ for the customer.
He suggested others ‘just don’t buy them if you don’t need them,’ and wondered ‘don’t people have a savings account?’.
He then clarified his stance in a later video.
‘Look, about my last video, I’m sorry, the delivery was a little bit wrong, but at the same time, I’m not sorry because it highlights a bigger issue,’ he said.
‘Did you go to university to not be able to afford a pair of shoes? Did you go to university to end up struggling?
‘Heaps of educated people that I know are competing with thousands of others per job.’
At the time he said he was also critical of the economy’s strategy to fill skills shortages.
A Sydney wrestler (above) has condemned Buy Now, Pay Later services as a bad sign for the economy
He said he was not anti-immigration as a third generation Italian in Australia, but suggested the government was not correctly addressing gaps in the labour market with the current migrations system.
‘They’re bringing in hundreds of thousands of people to fill a skills shortage, yet none of them do trades,’ he said.
‘I’m not anti-immigration, it just needs to be sustainable… My grandparents left some sh*t-hole to come here for a better life.
‘Australia back in the day used to be a team, used to be a team effort, we used to all work together for a common goal. Now it’s not like that and I’m sick of it.’
But some viewers were still critical of the wrestler’s comments.
‘I use Afterpay to buy shoes and I’m not struggling, it’s responsible payments rather then using my savings,’ one argued.
Others said they were starting to see his point.
‘You’ve got a solid argument and I do see your point,’ one wrote.
Australian shoppers (above, consumers on Market St, Sydney) have increasingly turned to Buy Now, Pay Later services to buy products they need
‘I think your first one was maybe a bit too strong with the wording, but I do get where you’re coming from at the same time.’
Services like Afterpay have faced criticism for ‘preying’ on the financially-illiterate, who are often unaware of the penalties for missed payments.
‘The people who most often use these services are often bad with money and are the ones who pay all the late fees,’ one financial literacy advocate wrote on a personal finance forum.
‘It isn’t a good idea for most of our society who aren’t good with money.’
However its supporters believe the issue lies with the user not the product.
‘People act like it’s a payday loan or something,’ one wrot.
‘It’s actually generous if you use it properly and the terms are laid out incredibly clearly. There’s nothing “predatory” about it.’
Australian shoppers have increasingly turned to Buy Now, Pay Later services to buy products they need.
In 2023, a report from Anglicare’s financial counselling service outlined an increase in users seeking help for ‘spiralling debts’ on account of using the services.
The report suggested some consumers hold multiple accounts which adds significant repayment stress.
