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Australia's Alarming Credit Card Addiction

AUSTRALIA'S ALARMING. CREDIT CARD ADDICTION Australians have a well established reputation for our laid-back outlook on life, however it seems that our cavalier attitude isn't doing us any favours when it comes to managing our personal finances. The latest credit card statistics released from the Reserve Bank of Australia paints an alarming portrait of a nation who is drowning in credit card debt. There is around 28% of Australian households owe credit card debt, with the average balance being $4,000 Australians owe a combined total of $50,126,000,000 15,000,000 crei cards in credit card debt. in circulation in Australia. Break down of debt by state: 30%. 30% of households have credit card debt with of households have credit card debt with the average balance of the average balance of NT $4000 $4000 OLD WA 25% -27% SA of households have credit card debt with the average balance of of households have credit card debt with the average balance of NSW $3000 ACT VIC $3000 27% 27% TAS of households have credit card debt • with the average balance of of households have credit card debt with the average balance of $3000 $4000 Break down of debt by age group: 36% 35% 32% 27% 23% 12% 15-24 25-34 35-44 45-54 55-64 65-74 75+ have a Credit Card debt with an average balance of have a Credit Card debt with an have a Credit Card debt with an have a Credit Card debt with an average balance of average balance of average balance of $3000 $4000 $3000 $2000 have a Credit Card debt with an average balance of have a Credit Card debt with an average balance of have a Credit Card debt with an average balance of $3000 $4000 $5000 Are you struggling with credit card debt? Fox Symes helps over 100,000 Australians each year resolve their debt and take financial control. Contact us on 1300 361 204 "All of the above statistics were taken from www.rba.gov.au 2012 FOX SYMES DEBT SOLUTIONS, AUSTRALIA'S LARGEST PROVIDER OF DEBT SOLUTIONS

Australia's Alarming Credit Card Addiction

shared by FoxSymes on Mar 24
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This infographic illustrates Australia's love affair with credit and highlights some alarming statistics regarding just how much credit card debt we're in down under.

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Fox Symes

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Category

Economy
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