Borrowers have been urged to stem their spending over the approaching festive season, as the world financial markets remain unstable. As the end of the year starts to approach, the Christmas holiday period is a common time to splurge on those gifts and leisure activities, without as much concern about the bank balance. This is one of the most common times to accumulate debts.

However the head of Consumer Advocacy at a mortgage corporation Lisa Montgomery, warns it is “an area of spending which traditionally tends to blow out over the last few months of the year and invariably leads to a New Year hangover.”

Australian Financial Predicament

The hangovers of debt as people come back into the workforce at the end of the summer break can leave many in a difficult financial predicament, at the start of the New Year.

Given the state of the economy, with major recessions predicted for the global financial market, the instability could put further pressure on debtors.

The need for control over spending habits is now more important than ever. As Montgomery explains, “Whether by choice or necessity… its important for everyone to continue this pattern.”

If you are suffering under the weight of debts, don’t hesitate, call Australian Lending Centre now. Let us help you get on top of your finances before the Christmas expenses start. To speak with a consultant today, call 1300 138 188.