Aussies turning to credit cards to pay bills

New research from Dun & Bradstreet has found 41% of Australian households with children will have to turn to credit cards to cover living costs. The result is up 2% on last year.

Forty-six per cent of low earners expect to have difficulty managing their debt, up 8% from the fourth quarter of 2011 and 11 points above the national average.

“Unfortunately, we are seeing the least solvent consumers accumulating unmanageable levels of debt, while those best able to meet credit commitments are avoiding spending altogether,” Dun & Bradstreet chief executive Gareth Jones said.

Source: Broker News