How to avoid the Christmas credit trap

christmas spending, holiday spending

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With the festive season fast approaching, the threat of credit debt leaving a negative impact on household budgets in 2020 and beyond is a real concern too many Australians face.

Australian household debt has risen steadily over the past three decades – with historical OECD data showing the ratio of household debt doubled – from 104% to 212% – between 1995 and 2015. What that means is, if the average person earns $80,000 net, they are spending $169,600 per year.

At Christmas, with the added financial pressure of gifting presents to children, friends and extended family members, reliance on credit cards – and the reality of accruing even more debt – is something many people find too hard to avoid.

In fact, in Christmas 2018, it was estimated (finder.com.au) that Australians spent a collective $25 billion – a staggering number that equates to $1325 per person.

It seems Aussies are knowingly getting themselves into debt at Christmas, leading to money worries and increased stress levels, and hundreds of dollars in interest payments to banks and financial providers.

To help prepare for a less stressful, less expensive Christmas in 2019, the Great Australian Credit Crush (GACC) is giving Australians looking for smarter ways to manage their credit debt free membership to its online community, designed to help people say goodbye to credit debt.

Access to the free community includes money-management insights, budgeting tips, credit-crushing strategies and much-needed support that is focused on helping Australians take control of their financial future.

When you connect with the Great Aussie Credit Crush community, it’s about finding your tribe and the feeling that you’re not doing this alone.

We believe you can commit to crush your debt and live a better life, without money worries that have a negative impact on your wealth and your health.

Register now and get the support and tips, in time for Christmas at greataussiecreditcrush.com.au.

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