For the first time in our history, Australians have tallied up a staggering collective credit card debt of almost $30billion.
The terrifying statistic was the result of frenzied Christmas shopping meaning many Aussie households are heading into 2019 with a financial hangover.
According to a new forecast of Reserve Bank of Australia (RBA) data analysed by comparison site finder.com.au, its likely the nation borrowed $29.7 billion on credit cards in December 2018.
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That is the equivalent of $1863 in purchases per card and if spending follows this pattern, it will be the highest December spend on record, up from $27.9 billion …
Read the full article at: https://www.news.com.au/finance/money/costs/research-finds-aussies-facing-1863-each-in-holiday-debt/news-story/e3fa84c85a5fa23162f33ccf666bf25d