Consumers 'struggling with bills'
The Bibby Barometer Small Business Survey has revealed that 83 per cent of small-to-medium enterprises in Australia had cashflow issues over the last year, mostly linked to consumers unable to settle their credit or debit card bill.
This indicates the financial pressure many Aussies are under, according to the study.
Almost one in four companies had to write off a bad debt while close to one in three had customers attempting to pay for goods through monthly instalments, reports the Courier-Mail.
Aspire Retire co-founder Olivia Maragna said that businesses who find themselves financing their customers have fallen into "a dangerous trap".
The Australian Bureau of Statistics (ABS) warned recently that too many people across the country could be living beyond their means, with new figures showing that nearly one in seven households are spending as much as they bring in on a monthly basis.
Low-income families are finding things particularly difficult, according to the report.
Have a question about debit cards? Ask the money gurus at Mozo Answers.