Owen Raskovich

So the comparison site, they did some research not too long ago, I think maybe a couple of years ago now.

And they found that 36% of Aussies use credit cards to pay for presents.

It's pretty alarming.

And they're often still paying that Christmas debt off a year later.

Ouch.

4% use personal loans.

That's pretty scary.

Yeah.

One thing that isn't captured in this mini research is payday loans, which in my mind are kind of like the nastiest loans, the worst kind.

Fortunately, 75% of people, maybe some people use savings and credit cards, but 75% of people use savings to pay for presents.

And that's great.

Yeah, that's ideal, right?

Yeah.

But I think this study was done before we had the wonders that be Afterpay, Zip and all these Buy Now, Pay Later apps.

Yeah, the ones popping up.

That's definitely going to change the retail landscape.

I mean, I was doing some reading on Australia Post a few weeks ago and they said these Buy Now, Pay Later services had dramatically increased sales.

their um postage all right amounts all right because people are just buying online yeah right okay so you've got a note here that um pretty much sums up the use of debt to um yeah to buy so i what my opinion is your family and friends don't want you to go into debt for them at christmas and i mean if they do

You need to find some new family and friends.

But definitely like you want to give something special to people.