Aussies 'cautious about debit card spending over Christmas'

By Mozo ·

More than one-third (37 per cent) of Australians want to ensure they have more money in savings accounts before starting their Christmas shopping, new figures have revealed.

A further 28 per cent of respondents to the survey by ING Direct asserted that they are likely to prioritise reducing their debt over spending money on their debit cards to purchase gifts ahead of the festive period.

However, the same proportion of Aussies said they are gearing up to start buying goods over Christmas.

Don Koch, chief executive officer of ING Direct Australia, commented: "This prudent attitude shows that Australian households are well placed to withstand external economic shocks."

He added that it also indicates that many households will soon be in a "better position to return to responsible spending habits".

This comes after the latest Consumer Credit Expectations survey by Dun & Bradstreet revealed that nearly two-thirds of people plan to use funds from their savings accounts to purchase goods ahead of Christmas.

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