September 29, 2022
US existing home sales fall for the seventh straight month in August and the Fed is about to inflict “some pain” with a 75 basis point rate hike – so prepare your wallet and portfolio
September 21, 2022
Fresh concerns about our hospital buildings, how ‘buy now, pay later’ schemes could fuel addiction, and chills hit the country in the latest New Zealand Herald headlines. Video / NZ Herald
Kiwis spent about $1.7 billion on “buy now, pay later” services last year, but there are concerns that the payment services could encourage addiction by allowing alcohol purchases. Concerns are also growing that people
People on the poverty line use the services to pay for daily necessities such as groceries due to the rising cost of living. Buy Now, Pay Later (BNPL) services allow users to make purchases on credit, and typically 25 percent of the total price is paid up front and the rest in three timed installments. They don’t charge interest, but users can expect late fees if they don’t keep up with payments.
Read the full story here: Concerns about buy now, pay later could fuel addiction as Kiwis spent $1.7 billion last year
Buy now, pay later Systems must be banned.
– Markus Y
How is it that this has not already been included in the credit law? Loan Sharks and Door-to-Door Dealers Caught But Don’t Buy Now, Pay Later? It’s all credit, so it should be recorded and regulated.
– John W
BNPL was initially all about desires. Now it’s about needs. How on earth did this happen? Buying grog from Afterpay comes as a shock. Additionally, it wreaks havoc with established banks and finance houses as they can no longer be classified as debt. It is now more than not the cost of living. And turn into payday loans.
– Jodi O
This appears to be one of the better “credit” systems out there. But there should be more restrictions on who can use it and some purchases need to be taboo, like alcohol, cigarettes and gambling.
Do supermarkets offer payment programs?
The Labor government wants everything back under control. First the Credit Agreement and Consumer Finance Act and buy now pay later. I suppose once they couldn’t physically lock people up, they wanted to control them financially. In this case we have a minister struggling to control himself and lead the charge.
The government’s successful $70.4 million bid for rural land, known as Ferncliffe Farms, beat private sector bids as it represented a “huge upfront payment” with no risk mitigation conditions, sources close to the process said stand, the Herald. The 95 hectare rural property on the outskirts of the city of Tauranga needs to be rezoned by the local council before it can be developed for residential use.
Read the full story here: Kāinga Ora’s ‘big upfront payment’ led to the purchase of Ferncliffe Farms
All right, it’s okay. It’s all about tax money.
Just some advice for anyone intending to sell land. Make sure you offer it to the government first, as you’re bound to get an offer you can’t refuse.
– Colin B
Another day, another week, another public agency wasting taxpayers’ money. Another minister supports them. Absolutely no accountability, the arrogance of public service, both central and local government, knows no bounds.
– Eric E
So if there is no rezoning, have they bought the most expensive piece of swamp in New Zealand?
The bottomless pit is taxpayers’ money. The 2023 election just can’t come soon enough. I would vote for Plankton on this lot.
– Republished comments may be edited at the discretion of the publisher.
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