Aussies 'may start borrowing more'

Businesses in one New South Wales town have been left reeling following a credit card scam operation, it has been revealed.Over the course of past three months, a number of organisations in Murwillumbah have been struck by a gang of criminals who have use

Despite the ongoing economic crisis, the nation's willingness to spend money may be set to increase, one financial expert suggests.

Although people are taking a cautious approach towards credit in the current climate, CommSec economist Savanth Sebastian states that Australia's overall propensity to borrow is greater than that of other countries.

Consequently, he claims people could be looking to spend more money in the short them.

"The improvement in confidence levels and the likelihood that the worst in terms of job losses has passed will prompt consumers to start borrowing and spend more consistently in coming months," Mr Sebastian states.

Indeed, those looking towards major purchases could want to consider opting for a credit card which offers an interest free period on purchases.

However, Russell Evans, general manager for Veda Advantage, recently claimed those on the search for a credit card should take the time to do thorough research before making an application as "there are always good deals out there".

Written by Emma North