Monthly Archives: July 2010

Personal Finance Commitments Up in May

According to the Australian Bureau of Statistics the overall personal finance commitments of Australians had gone up slightly during May 2010.  The increase was only  0.1 per cent , seasonally adjusted, to $6.793 billion, up from $6.787 billion in April. … Continue reading

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Credit Cards and Charge Cards being used more

According to statistics released by the RBA, the total value of credit card transactions and advances as well as charge card transaction for the month of May 2010, was $19.631 billion . The same transactions were only $17.960 billion in … Continue reading

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RBA decision on rates will affect bank deposit earnings

Analysts are concerned that RBA decision to leave rates on hold for a second month in a row, will limit the earning potential of of deposit holders. It is certainly a great opportunity for borrowers to pay down their existing … Continue reading

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Debt Problems for Queensland Farmers

According to a recently published rural debt survey, QUEENSLAND farmers are $15 billion in debt due to natural disasters.  Many of these farmers are now turning to banks for assistance. In 2009 more than 16,000 farmers together owe  an overall … Continue reading

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New Fees Imposed By ITSA

ITSA is looking at introducing a fee of $200 for the processing of debt agreements.  This decision has been criticised in the media as the people who are being asked to pay are already at a pre-bankruptcy stage. The fees … Continue reading

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Credit Card Debt Demons

With many credit card providers charging as much a 20% interest, people who continue to accumulate credit balances on their card accounts are facing very high repayment costs. A consumer who falls into the trap of paying only the minimum … Continue reading

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