Australian households are returning to their debt fueled lifestyles after a year of austerity and paying down their debts.
Personal loans and credit card debts have been rising for the last four months according to the Reserve bank of Australia.
Over a quarter of people interviewed expect to increase their debt within the next three months according to a survey by Dun &Bradstreet. Economist Shane Oliver from AMP Capital says people are less worried about their jobs and therefore more prepared to take on debt.
Unfortunately this does not relate to mortgages, rather unsecured debts. In all cases unsecured debts are always best to keep to a minimum as these are the debts that tend to force people into bankruptcy.