Aussies 'splash cash in post-Christmas sales'

Billions of dollars are to be spent in the post-Christmas sales as people scour the shops for bargains, new research shows.

Aussies could well be turning to credit cards and other borrowing products in order to splash out on the high street sales.

Figures released by the Australian Retailers Association (ARA) reveals that people are set to spend some $6.77 billion in the fortnight following Boxing Day as they look for savings.

Such a figure represents growth of four per cent from 2008-09.

Russell Zimmerman, executive director of the ARA, points out that while "crowds are always expected when consumers head to the shops for post-Christmas day bargains", some 8.6 per cent of people will be looking to complete their festive shopping during the Boxing Day sales.

However, people were reminded to "keep their cool" and only spend within their limits, those considering using Aussie credit could be interested to hear.

This advice comes as Lisa Singh, minister for corrections and consumer protection in Tasmania, pointed out that although interest free period schemes can at first sound appealing, people planning on using such financial products should ensure they keep up with repayments to avoid incurring high interest rates or charges.

By Kate Guthrie