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A comment on 'Buy now, pay later' is sending the TikTok generation spiraling into debt. Parent comment

Re:'Buy now, pay later' is sending the TikTok generation spi... by spoonjim on Monday May 09, 2022 @04:27AM (#31311794)
Yes, a high functioning government would essentially wipe out 2/3 or more of consumer lending. As an example, Singapore literally forces some of your income into a savings fund that's just for housing, retirement, and healthcare. It's not something optional -- the nanny state literally taxes you into being a fucking adult. And it works.
[ Parent | on HN ]
Re:'Buy now, pay later' is sending the TikTok generation spi... by matnewton85 on Monday May 09, 2022 @08:33AM (#31313302)
The Australian government does the same thing; and also permits BNPL.

BNPL has been thoroughly, thoroughly investigated by the Australian government because people have the same conclusion as the HNers here - 'they must be doing something wrong'

But if anyone does what I do, which is to look more deeply into the topic, they'll discover that this is actually the least predatory form of consumer debt (if not the least, close to it), and for this reason governments are content to continue with it.

[ Parent | on HN ]