CBA wants to keep you in their ecosystem.
Great News! Australians are paying off billions in Credit Card Debt.
Debt consolidation loans are increasing.
#PayDayLoans #Finances #HeiseSays People are complaining about payday lending and accusing them of predatory behaviour. Do we need government intervention or better financial education? References Millions of Australians falling victim to ‘predatory’ payday lenders, report shows https://www.abc.net.au/news/2019-11-12/payday-loans-increasing-single-mums-growing-borrowing-sector/11694908?fbclid=IwAR3kwZ9iW4nxXQfXKGN-zI7uu4QC74TFFykWXtzQLHc5VTOydZyu787-PIM
#Retail #Recession #HeiseSays Retail levels have crashed to levels not seen since the 1990’s recession. References Retail slumps to ‘weakest’ level since 1990s recession as tax cuts fail to stimulate consumer spending https://www.theage.com.au/politics/federal/worrying-sign-retail-slumps-to-worst-performance-since-last-recession-as-jobs-weaken-20191104-p5378r.html?fbclid=IwAR3h2VWqEkoJQJPDUX36h12CN9x7UMbpKce448y28rwZjEpYBcymiA8l87M
#Eftpos #Australia #HeiseSays Eftpos transaction fees are being passed onto consumers with greater frequency. Luck we still have cash….oh. References
#Afterpay #ConsumerCredit #HeiseSays Afterpay is one of Australia’s recent international business successes but is hipster “lay-buy” really that innovative. References https://www.news.com.au/finance/business/retail/afterpay-backlash-intensifies-as-us-expert-slams-aussie-startup/news-story/cfe2939007c269c12bb2704e9d11d726
#InterestFree #Debt #Retail People are being caught out with fees and transaction charges on Interest-Free retail purchases. https://youtu.be/aYI2aEJu9nw References Sydney man slugged with huge hidden fees in ‘buy now, pay later’ offer https://www.news.com.au/finance/money/costs/sydney-man-slugged-with-huge-hidden-fees-in-buy-now-pay-later-offer/news-story/2471cf40421b59ce0ae6bd793c4037c7
#CreditCards #Bankruptcy #Australia Australians are being bankrupted because of credit card debt. Another sign of difficult times and terrible financial education? References Debt collectors are bankrupting Australians over small credit card debts https://www.abc.net.au/news/2019-08-13/debt-collectors-suing-for-bankruptcy-over-small-credit-card-debt/11335000?section=business