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A recent study has shown that approximately 190,000 young adults in New Zealand are at severe risk of unmanageable debt due to frequent use of Buy Now, Pay Later services.
A representative number of New Zealanders between the ages of 18 to 34 were surveyed - finding one in five do not identify buy now, pay later as debt, and one in four were constantly repaying debt from delayed payment purchases.
Financial literacy is a hot buzz word this election campaign - but will it really make a difference here?
Aaron Gilbert is a Professor of Finance and Head of Department at AUT's Business School.
He's also one of the researchers behind the recent report on problem debt, buy now pay later, and young adults. He spoke with Kathryn Ryan.
