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A staggering 41 per cent of Australians would consider going into debt to fund their Christmas and summer holiday spending, according to a survey from Compare the Market (CTM). What’s more, nearly half of those surveyed said they plan to pay for Christmas using credit cards, personal loans and Buy Now, Pay Later Services. It… Read more »
Can spending plastic money ever be a good thing? Perhaps. I tend to be wary of credit cards. The temptation to overspend is always there when you can access funds with just a tap of your card or phone. High interest rates and sneaky hooks – like minimum repayments or offers to lift your credit… Read more »
Falling into a consumer debt trap is something that happens to most of us at least once in our lives. And when it happens, we swear it will never happen again. Working to pay off that debt is hard work – and all that extra interest we have to pay can feel like an unfair… Read more »
‘Buy Now, Pay Later’ seems like the best thing that’s happened to credit since credit cards were invented. And therein lies the BNPL trap. Many people will happily use BNPL services like Afterpay and Zip Pay without issue for years. They’re the people who can afford to pay for an item outright, but shrewdly choose… Read more »
Avoid the sting of credit cards at Christmas with these tips for staying on track. Tip #1: get the lowest-possible rate card you can. It happens every Christmas. We go on a Christmas shopping splurge and feel great… until the credit card bill arrives in January. Outstanding balances can provide a horrible financial sting. New… Read more »
Australians are in a credit card rut. We’re currently paying interest on $20 billion worth of outstanding credit card balances every month. That figure seems to be stuck at that level, despite the number of actual credit card accounts dropping by 751,916 in the last year. The lowest number since February 2007. It seems higher debt… Read more »
Hey gang, get up to speed on this week’s financial trends with my market updates. This Week’s Economic Pulse – Commsec have an amazing chart which tracks luxury car sales to house prices which points to a strong correlation between the two. I talked last week about general car sales falling 10 per cent in… Read more »
