Charities warn of Christmas credit risks
Consumers should think carefully about their Christmas spending this year and avoid succumbing to the inevitable festive hype, a charity leader has said.
Bundaberg St Vincent de Paul regional president Angela Vicenzotti urged people to resist the pressure to spend big on credit cards given the high number of debt problems in Bundaberg.
"We have a lot of people that come here and they're in a really bad way with debt," she said in an interview with the Bundaberg NewsMail.
"They find it very hard to pay it back."
Ms Vicenzotti noted that many people do not realise how much interest they are paying on cards and end up struggling to afford the essentials because of high repayments.
Consumers struggling with money worries can choose to compare credit cards and other financial products in search of better options. The Bundaberg NewsMail reported that St Vincent de Paul has been joined by the Salvation Army and Lifeline as charities urging restraint this Christmas.
This article is brought to you by Mozo – Helping you compare credit cards