THE silly season might be over but the debt hangover is not for thousands of Australians who are expected to pay the price for festive splurges well into 2017.
Roy Morgan research for The Salvation Army suggests 1.8 million people will take two to three months to pay off their Christmas credit card debt and 476,000 people will take six months or longer.
Financial counselling services are responding to a spike in calls as post-Christmas bills roll in and families struggle to cover the cost of festive purchases put on plastic.
The Salvation Army’s free financial counselling service, Moneycare, has reported a rise in demand over the holiday period while Financial Counselling Australia CEO Fiona Guthrie says the organisat…
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