Aussies ease up on spending

Mozo

Monday 08 September 2008

While global money problems have caused a lot of gloomy comment in recent months, it seems many Aussies are taking the initiative and paying off debts on credit cards.

According to the Australian, the difficulties many are experiencing in getting personal loans and credit cards have encouraged a large number to take a look at their spending habits.

With a number of pressures put on the average Aussie’s wallet, the paper predicts that fewer people are going to be splashing the cash in the coming months.

“Australians are reeling from the estimated five per cent fall in their household net worth in the first half of this year,” it pointed out.

Because of this, it predicts that many more are going to have a look over their credit card bills to cut out luxury areas of spending.

Elsewhere, Herald Sun money guru Terry McCrann has pointed out that while Aussies are spending less overall, they are still spending enough to keep businesses from cutting jobs.ADNFCR-1761-ID-18768999-ADNFCR

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