Did your gift-buying cost you more than you could afford?

A bumper pre-Christmas shopping period this year may have enticed people to spend more than they can afford.

A new study from the University of Sydney has found that these services are failing to protect vulnerable borrowers. Source: AAP / DEREK ROSE/AAPIMAGE

Key Points

• The Buy Now Pay Later sector has been scrutinised in a first-of-its-kind study out of the University of Sydney Business School.
• The study has found a significant proportion of consumers using products such as Afterpay and Zip are high-risk borrowers, more vulnerable due to the largely unregulated nature of these services.
• The University of Sydney's research found that users with multiple accounts were more likely to have more personal loans, higher credit card use and are often from a lower socioeconomic area.

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