Media contributions
1Media contributions
Title Concerning trend of Australians skipping meals, energy bills to pay off short term loans Degree of recognition National Media name/outlet The Daily Telegraph (online) Media type Web Country/Territory Australia Date 3/07/23 Description This article reports Finder survey findings that two in five Australians had used a buy now, pay later product in the preceding six months, with roughly a third of those users deferring another bill to meet repayments — including electricity payments, meals and mortgage instalments. It sets these findings against record call volumes to the National Debt Helpline, concentrated in New South Wales, and against forthcoming legislation to regulate BNPL products as credit for the first time. Dr Lurion De Mello comments on the risk of consumers becoming trapped in debt, identifying reliance on BNPL for groceries and fuel as evidence of genuine financial distress warranting financial counselling rather than further credit access, and noting the departure from borrowing's traditional role in asset acquisition. Industry and household perspectives round out the piece, including commentary on the accessibility of the products and the compounding effect of deferred essential spending. Producer/Author Angira Bharadwaj, Emily Chate and Sophie Little URL https://www.dailytelegraph.com.au/subscribe/news/1/?sourceCode=DTWEB_WRE170_a_GGL&dest=https%3A%2F%2Fwww.dailytelegraph.com.au%2Fnews%2Fnsw%2Fconcerning-trend-of-australians-skipping-meals-energy-bills-to-pay-off-short-term-loans%2Fnews-story%2Fa96a62ac6c1676bf7773e731865508e7&memtype=anonymous&mode=premium&v21=GROUPA-Segment-2-NOSCORE Persons Lurion De Mello