Online shopping driving up big family debts
Online shopping has fuelled a household debt crisis, with financial counsellors struggling to keep up with demand for help.
MyBudget director Tammy May says an unprecedented jump in online shopping over Christmas had created a debt bubble that many families can’t manage.
The debt resolution firm’s client numbers have increased by 40 per cent since the December quarter and 30 per cent compared to the same time last year.
Recent figures show Christmas pushed online shopping to a new peak with clicks grabbing 8 per cent of Australian credit and debit card transactions over the first 15 days of December.
Source: The Australian