Debt concerns of Mackay residents revealed

The money management concerns of residents in one Queensland city have been unveiled.

Mackay residents are worried when it comes to keeping on top of their finances, it has been suggested.

Brad Steele, North Queensland general manager at Suncorp Bank, points out that people in the city "are not certain on the future", noting that 12 per cent of consumers are concerned about their ability to make repayments on their Aussie credit commitments.

In comments reported by the Daily Mercury, he states that research by the bank shows that about a fifth of people in Mackay are more concerned about paying their weekly bills now they were this time last year.

Mr Steele adds that "many people are probably also feeling the hangover of the Christmas period", particularly those who failed to plan their spending and are now being faced with "large" credit card bills.

The Australian banking study also showed 28 per cent of 25 to 34-year-olds in Queensland are worried about making home loan repayments.

Such comments come as Diane Bos, general manager of Lifeline Community Care's Ipswich and West Moreton Division, told the Queensland Times last month that her organisation often sees an increase in the number of people with money management problems over the course of February as consumers attempt to repay debts accrued over the Christmas season.

By Joe Letts