Credit cards are a popular choice as they are a convenient way of paying for things. But, if it means you are spending more than you can pay off at the end of the month it can leave you in financial strife.
New research has shown that more Aussies are relying on borrowing money as debt hits a record high. According to finder.com.au, borrowing money on credit cards & personal loans has reached over $101.4 billion.
Spending money you don’t have can be a dangerous game if you don’t understand how the process works. Many retailers offer special interest free deals to tempt buyers to purchase products now rather than later.