How buy now, pay later can help balance your expenses

A full life can feel like a balancing act. Carving out the time and energy for work, relationships, family, health, spirituality, adventure and community is rewarding, but it’s a lot. And underpinning all of that are, of course, financial commitments.

Buy now, pay later when there’s a lot to balance

Some of these everyday costs you can plan for – car service, gym membership, insurance. Others are just for fun, like the revolving door of new plants for the house or a spontaneous night of after-work drinks. Then there’s the expenses that come up when you don’t expect, like a (big) parking ticket, a laptop needing repairs, or a regular bill blowing out. Wherever or whatever the costs, combined they can be a lot.

Finding balance often comes down to timing, and with buy now, pay later you can stagger these costs so they fit within your budget without having to miss out.

Using StepPay, CommBank’s new buy now, pay later product, you can make payments of $100 to $2000 and split them into four fortnightly instalments. Think of it as your go-to way to pay everyday. It takes 3 simple steps to set up, and you can use it anywhere that Mastercard^® is accepted. Your StepPay account sits in your CommBank app, alongside all your other accounts and cards, so you can keep track of what you’re spending to help feel in control.

Track, budget & predict

Staying on top of your spending is key to keeping your budget balanced. And alongside StepPay, there are a number of automated tools in the CommBank app that can help you track, budget and predict.

• Spend Tracker categorises every debit and credit card transaction, making it easier to see the impact your spending decisions have on your everyday finances.
• Bill Sense predicts your bills based on patterns in your transactions, how much you pay and when. It helps you see how much you’ll need to cover bills each month – up to 12 months in advance.
• And with Cash Flow View you get a complete picture of your income, spending and saving habits. And how you’re trending month-to-month.