Please re-read my post above regarding why BNPL and mortgages...

Please re-read my post above regarding why BNPL and mortgages shouldn't be compared, thank you.

Yes, I would rather use layby and get the item later in full. I will force my child to learn the same appreciation of saving and waiting to buy something rather than handing them a BNPL account because I loathe Nick and Anthony. I do exactly this to this very day and I'm in my 40s. If I don't have available cash to buy something, it won't be bought. I will have to save for it, simple as that.

When I was young my mum always put things like shoes, cricket bats, and gaming consoles on lay by as she was averse to credit cards (still doesn't have one). It gave me good values - things don't come "instantly" and "for free", which seems to be the mantra of the world today. Everything is about "instant gratification" and "I want it now baby" and because of this the people around me have massive debts, car loans, student loans, no retirement savings etc. and they are in their 40s and 50s.

Layby among other things taught me the value of working for something and waiting for it. I mean, imagine simply getting laid on the first date - where is the build-up? Where is the excitement? Where is the thrill about getting her to take his/her pants off?

I bought my Peugeot in Australia with cold hard cash ($18,000) after six months of saving. I bought my RAV4 in Canada for $25,000 cash as soon as I landed. These car dealers were begging me to take loans out. NUP. NOT ME!

I own four properties and a portfolio of shares with a value of nearly $3 million and I only have $300,000 or so in debt to go.