Australians face rising credit card debt after festive overspending; experts suggest debt consolidation loans to regain financial control.
Thousands of Australians who had planned to cut back on their spending over the summer due to the ongoing cost-of-living crisis have found themselves overspending during the festive season, leaving their finances in disarray.
According to brokerage Bell Partners Finance, a recent study from comparison site Finder revealed that 8 per cent of Australians – equivalent to 1.7 million people – are now facing growing credit card debt heading into 2025. The national credit card debt is estimated to total $2.7 billion.
Bell Partners Finance managing director Mark Stevenson said…