00:00More shoppers are splurging heading into Christmas.
00:06To be honest, are you going to splurge?
00:08I might.
00:10Do you have a budget?
00:12No.
00:14There's no point, because if I did, I'd just blow it.
00:18What we've actually seen is in the last couple of months,
00:20the level of balances that are accruing interest,
00:22that people have been charging interest on,
00:24has actually increased in the last couple of months,
00:26for the first time in quite a while.
00:28Australians had $18.4 billion of debt
00:31that was now starting to accrue interest on their card,
00:35a four-year high,
00:36while applications for Buy Now, Pay Later credit services
00:40surged 43% over the year to September.
00:44What happens is that people try and correct the situation themselves
00:50by getting more debt,
00:52and then people are needing to get even more debt
00:56to service repaying the debt they already have.
00:59Economists say this debt spiral usually rears its ugly head in February,
01:05when shoppers are forced to foot the bill for a Christmas spending splurge
01:08and inevitably cop a few extra expenses.
01:11The concern is that households are heading into this danger zone
01:15with more debt than usual.
01:17It's really ticked up, and that's before the spending spree.
01:22So while we've seen a lot of confidence about the outlook,
01:26from an economic fundamentals perspective,
01:28there's some worrying signs.
01:29The Reserve Bank will be watching consumer spending too,
01:32as the debt binge also puts pressure on inflation.
01:36dysproria.
01:37ありますね。
01:38.
01:39兼職.
01:41.
01:42.
01:43.
01:45.
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