Spend within your means philosophy crushes credit-card debt

The Sydneysider made a conscious decision from a young age to pay off her credit card in full each month, saving her from the burden of interest.“I check my online banking regularly and pay off my credit card well in advance of the due date,” Andrea says.Advertisement

At the same time, credit-card debt interest has fallen to $29.5 billion, down 9.4 per cent in five years.A Finder.com survey of 1379 card holders reveals that the majority of credit-card holders are financially responsible, with 64 per cent saying they pay off their balance in full each month.A further 14 per cent say they carry debt for between one and six months, while a worrying eight per cent admit they will still be paying off their credit-card debt in three or more years.

“Aussies certainly have a penchant for plastic, but more and more people are spending within their limits,” she said. It wants credit providers to minimise the extra credit given to consumers who regularly exceed their credit limit. It also outlined the need to take pro-active steps to address problematic credit-card debt and products that don’t suit consumers.

Does she have a mortgage?

How can these bastards charge 21% when official rate is 1%? 90% of bankrupts average $40K based on credit card debt which shouldn't have been lent. Call for bankruptcy to be 6 mths not 3 years.

I have a debit card which acts a credit card, so I know exactly what is on it all the time. Like many others before debit cards, I got caught up in credit card debt. So glad I got rid of it!

Try hiring a car without one.

If you havnt got the cash for it on hand, you can't afford it. For too long Australians have believed the lies from banks and lived beyond their means through Credit.

Well done, I am nearly 71 and would never have a credit card, saving it the way to go, it is common sense. I'm doing really well now and owe nothing to anybody.

Credit cards are instruments of the Devil

How did this very simple understanding somehow skip an entire generation?

. 'Live within your means'. what kind of White Privilege says something like 'Live within your means'? What next? 'Get a trade'...? 'Learn to code'...? 'Do your maths homework'...? 'Take a bath'...? For fuck's sake...

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