Buy now pay later for rent a risky debt trap, financial counsellors warn; Facebook founder Mark Zuckberg loses US$29b in single session in bad day at the office.

Emerging "buy now pay later-style schemes" targeting renters are likely to prey on vulnerable consumers who could fall into a dangerous debt spiral if they don't pay on time, Financial Counselling Australia warns. 

Recent entrant Tenanting offers a free service but charges five percent if a renter opts to borrow to pay future rent. FCA is urging Treasurer Josh Frydenberg to hold an independent inquiry into fintechs who model their businesses to evade proper regulation.

Also Facebook founder Mark Zuckerbeg loses US$29 billion of his personal fortune in a single trading session as parent company Meta dives US$200 billion in value after issuing a dismal profit outlook.

I speak with Chris Mitchell on ABC NewsRadio and followed through on The World Today.