Keep The Change What If New Zealand Bans Consumer Debt In 2026?
Dec 17, 2025
Imagine if all consumer debt vanished overnight! Luke and Mikey dive into the chaos that would ensue, like plummeting car sales and longer-lasting appliances. They reveal how 'buy now, pay later' schemes trick us into spending more and how debt constrains our life choices. The duo explores the shift from consumerism to valuing skills and experiences instead of possessions. With a thought-provoking analysis of debt's real cost and its impact on our economy, this discussion challenges listeners to rethink their financial habits and embrace a debt-free future.
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Debt Pledges Your Future Self
- Debt forces you to pledge your future self to today's wants and limits future choices.
- Luke and Mikey call consumer debt a disguised cage that reduces long-term agency.
BNPL Changes Buyer Behaviour
- Buy now, pay later trains spending by hiding real pain of payment and raises average order value by 20–40%.
- Businesses exploit this behavioural shift to sell more and lower product quality.
Make Delayed Gratification A Habit
- Build saving, patience, discipline and planning into purchases by forcing delayed gratification.
- Treat those traits as wealth-building habits, not inconveniences to avoid.