Credit Card Bills Bring Summer Chills: Handling Holiday Debt-lag
By Administrator 14 December, 2015
With Australia’s holiday season fast approaching, many people are finalising their holiday plans – touching up their travel itineraries and formulating their holiday budgets.
Australia sits in the top 10 countries for international traveller presence, with an estimated 9.2 million individuals said to have travelled abroad in the year ending June 2015. Whilst getting away to relax, re-energise and reboot is highly recommended for personal health and wellbeing, it is important to stay mindful of post-holiday commitments – one such commitment being debt.
Too familiar are the physical sensations of jetlag; many do not stop to think, however, of the short- and long-term consequences of ‘debt-lag’. Post-holiday debt can render one unable to make repayments to their other commitments. Within NSW alone, 211,000 individuals have taken more than one year to repay their credit card debt following travel. This figure has increased 17 per cent since the year ended June 2015, with total interest on credit cards portraying an estimated figure of up to $139 million a year.
Unanticipated holiday debts, whether large or small, can impact you on many levels. Debt Free Australia can assist individuals suffering from holiday debt by offering advice and professional debt solutions. Debt Free Australia can help you to explore the options available to you to rid yourself of unmanageable debt – our trained professional debt advisors are ready to consult with you.
Debt Free Australia is fully licensed and authorised to offer formal debt solutions to all Australians experiencing debt. If you experience summer chills from a stack of credit bills post-holiday antics, call Debt Free Australia on 1800 676 598 for personalised solutions to handle your debt-lag.