Key Facts:
- Australians risk significant post-Christmas debt with household spending up 5% year-on-year and savings ratios down to 4-5%
- Household costs have increased across multiple categories: travel/accommodation (1.1%), dining (3.3%), groceries (3%), and alcohol/tobacco (6%)
- 78% of Australians plan to adjust Christmas spending habits, with most preferring debit over credit cards and implementing stricter budgets
- Business-related personal insolvencies are rising, with 29.4% of personal insolvencies now linked to business issues
- Key recommendations include making detailed spending lists, avoiding buy-now-pay-later schemes, maintaining essential bill payments, and seeking early…