Help! I’m addicted to Afterpay

The Christmas period spending hangover can often involve large bills on credit cards or buy-now-pay-later (BNPL) systems like Afterpay, Laybuy, Zip and Humm. If you’re feeling the festive-season burn, you’re not alone. We have some tips to help get on track, and stay on track, this year. 

Assess your situation
Don’t be in denial. Do a full review of what you owe. Include everything on BNPL plus any credit card repayments too. Make a list of your pay/wages cycles and what repayments are due within these timeframes. Can you pay off some items earlier? This will help you feel less overwhelmed.

Stop adding more to your BNPL
This can be really tough if you’re in a habit of using BNPL. These systems are designed to encourage buying, through things like points programmes and aggressive notifications and emails. The more you successfully spend and pay back, the larger your borrowing capacity becomes. Make a plan to stop using BNPL for the next few months while you get your current situation under control. 

Unsubscribe to email marketing
If you’re a natural spender, one of the best things you can do to avoid temptation is to sort your online channels. Unsubscribe from email marketing, unfollow your favourite stores on socials, and even avoid going to malls or shopping centres if you’ll be tempted. These small things can make a huge difference for impulse purchases. Make a list of things you really need, and things you would like if money allows in the future. 

Can you earn more?
Selling unwanted items can generate some extra cash to direct into your repayments. A few extra dollars here and there all add up. Can you pick up extra shifts at work, negotiate a payrise, or maybe even secure a higher-paying job this year? Review what’s important to you and think about changes you could make. There has never been a better time to be job hunting, with so many places short-staffed and struggling to get capable workers. Negotiate your salary, know your worth, and don’t undersell yourself.

Set money aside for next Christmas
Facebook groups are full of helpful tips (use your judgement though!). One great idea we saw was putting away money each pay cycle throughout the year, so you have a decent amount saved by the time Christmas and summer arrives. This can help futureproof yourself against debt next year.

Get support if you need it
If you’re feeling overwhelmed, don’t be afraid to reach out for help. Money Talks is a free budgeting and debt helpline. Contact them if you’d like to chat about your situation. You are not in this alone. 

Information correct as at January 2022. Pie Funds Management Limited is the issuer and manager of the JUNO KiwiSaver Scheme. Click here for our Product Disclosure Statement. Any advice is given by Pie Funds Management Limited, and is general only. It relates only to the specific financial products mentioned and does not account for personal circumstances or financial goals. Please see a financial adviser for tailored advice. You may have to pay product or other fees if you act on any advice. As manager of the Scheme we receive monthly fees that are determined by your balance and whether you are 13 years or over. We will benefit financially if you invest in our products. We manage any conflicts of interest via an internal compliance framework designed to ensure we meet our duties to you. For information about the advice we can provide, our duties and complaint process and how disputes can be resolved, visit All content is correct at time of publication date, unless otherwise indicated. Past performance is not a guarantee of future returns. Returns can be negative as well as positive and returns over different periods may vary. Please let us know if you would like a hard copy of this disclosure information.