New Year spending ''to top $9bn''

Aussies could be dumping the dollars on to their credit cards in the new year as they hunt for a bargain in the January sales.

Figures from the Australian National Retailers Association (ANRA) show that up to $9 billion is expected to be spent in the sales.

This follows on from an estimated $5.5 billion spent between Christmas and New Year''s Eve alone.

With the total standing at more than $14 billion, not all is likely to be placed on credit cards, as many Aussies have their Christmas cash bonuses still to spend.

But ANRA recently noted that those bonuses are more and more likely to go towards purchases - and less likely to be used to clear credit card debts.

From October to December, the proportion of consumers planning to spend their bonuses on new purchases for themselves rose from four per cent to seven per cent.

Meanwhile, fewer told the retail group that they expected to tackle their credit card balance using the seasonal pay boost.