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Summer in Australia is full of fun, with a calendar full of celebrations. We know it can also be an expensive time of year buying Christmas presents, shopping for a bargain in the Boxing Day sales, celebrating New Year’s Eve or hitting up our favourite summer events.

If your spending is split across Buy Now, Pay Later services like Afterpay, Zip Pay or the many others on the market, it can be easy to lose track of what you’ve spent, where you’ve spent it, what you need to repay and how much you have left over.

To help stay on top, check out our tips for using ‘Buy Now, Pay Later’ services:

Make a budget and check in on your spending regularly

Planning your expenses (like rent, car bills) and tracking your Buy Now Pay Later repayments against your income will help you to better understand your overall financial position, and help you make decisions about upcoming spending – like if you can afford to head out for drinks with friends on the weekend before pay day, or if you can buy those shoes that have just been marked down.

Know what fees you’re up for 

With each Buy Now Pay Later service you’re using remember that each provider operates differently. Late fees vary from provider to provider, and some charge account fees or management fees.

Most services give you the opportunity to pay out your purchases without any fees, but it’s important to be aware of what you’ll come up against if you miss a payment. Once you know what charges will be made to your accounts, you can account for these as part of your overall budget and avoid being left caught short.

Know when your instalments/payments are coming out

Ensuring you have enough money in your account for your Buy Now Pay Later services will avoid you incurring a late fee. Additionally, check that you have enough money in your account for other payments (such as direct debits) to avoid sending your accounts into overdraft or resulting in a dishonoured payment, which could also incur fees.

Some services will email you reminders, but you might find adding your repayments into your budget, paying all your upcoming payments on payday, or setting reminders in your calendar work to remind you to check in on your finances before a repayment is due.

Avoid incurring interest by paying off your credit card

If you have your Buy Now Pay Later service linked to your credit card, you could end up paying interest, not only on your payments, but on any late fees you might have incurred if you can’t afford to make repayments in time.

While Buy Now Pay Later services offer a unique payment solution, there are lots of ways you can manage your money wisely with P&N Bank’s transaction and savings accounts. Explore our personal banking options or call us on 13 25 77 to see what could work for you.


Banking and Credit products issued by Police & Nurses Limited (P&N Bank) ABN 69 087 651 876 AFSL/Australian Credit Licence 240701. Any advice does not take into account your objectives, financial situation or needs. Read the relevant T&Cs, before downloading apps or acquiring any product, in considering and deciding whether it is right for you. The Target Market Determinations (TMDs) are available here or upon request.