Money

Cashflow crisis for millions as credit cards become lifeline

Published

2 years ago

February 12, 2024

A staggering number of Australians are resorting to credit cards to navigate financial hardships, reveals recent research conducted by Finder.

Finder’s Credit Card Report 2024 indicates that nearly half of credit card holders (44%) have made unplanned purchases on their cards within the past year, affecting approximately 4.6 million Aussies who found themselves unprepared for unexpected expenses.

Among these, nearly 750,000 individuals (7%) have resorted to credit cards after depleting their funds before payday, while one in five (21%) have been caught off guard by emergency expenditures.

Black Friday

Additionally, 14% admitted to overspending during sales events like Black Friday, further exacerbating their financial strain.

Amy Bradney-George, a credit card expert at Finder, underscores the impact of rising expenses and inflation on household budgets, driving many to rely on credit cards as a last resort.

“Persistently high inflation rates and aggressive interest rate hikes have taken a toll on finances, leaving many Australians with dwindling savings and credit cards as their sole lifeline,” Bradney-George explains.

Gender disparity

The data also reveals a gender disparity, with women (12%) being four times more likely than men (3%) to turn to credit cards due to insufficient funds before payday. Additionally, millennials are disproportionately affected, with a quarter (25%) admitting to relying on credit cards during emergencies over the past year.

In light of these findings, Bradney-George urges Australians to exercise caution with their spending and prioritize essential expenses. She advises those grappling with credit card debt to explore options such as transferring balances to cards offering introductory 0% interest rates on balance transfers.

“This allows individuals to repay their debt without incurring additional interest charges for a specified period,” Bradney-George explains. “However, it’s crucial to have a repayment plan in place to avoid accruing higher interest fees after the introductory period.”

For those facing financial stress, Bradney-George recommends reaching out to lenders for assistance or seeking guidance from free financial counseling services like the National Debt Helpline (1800 007 007).

As Australians navigate economic uncertainties, proactive measures and responsible financial management are essential to mitigate the impact of credit card reliance on household budgets.

Money

Tech stocks slide as investors rotate into small-cap and value plays

Nasdaq drops 1.84% amid turbulent week; investors pivot to cyclical and value sectors from high-growth tech.

Published

14 hours ago

February 9, 2026

Harvey Vargas

Nasdaq drops 1.84% amid turbulent week; investors pivot to cyclical and value sectors from high-growth tech.

U.S. equity markets wrapped up a turbulent week with mixed results. The Nasdaq Composite fell 1.84%, marking its worst week for large-cap technology stocks since November, while the S&P 500 remained largely unchanged. Investors are weighing concerns about artificial intelligence and potential overinvestment in high-growth areas.

Meanwhile, smaller-cap and value-oriented stocks continued to add to their year-to-date gains. Market participants rotated into cyclical sectors that had lagged, reflecting a shift in investor sentiment and appetite for risk outside the traditional tech heavyweights.

Analysts say this rotation highlights the broader market’s evolving dynamics, as growth concerns collide with opportunities in underappreciated areas. Stay tuned for further developments as the market digests these trends.

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Money

U.S. markets mixed as tech slumps and Fed moves spark uncertainty

Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.

Published

4 days ago

February 6, 2026

Harvey Vargas

Mixed US equity results as tech stocks drop; market uncertainty rises amid Fed Chair change. Join Steve Gopalan’s insights on FX trends.

US equity markets posted mixed results as technology stocks fell, reflecting growing concerns about AI disruptions. The delay of key labour data has added to market uncertainty, especially with President Trump’s recent appointment of Kevin Warsh as Fed Chair.

Steve Gopalan from SkandaFX joins us to discuss how these shifts could influence monetary policy, corporate FX strategies, and the broader financial landscape.

We also dive into FX trends, euro-area inflation signals, and Australian dollar movements, exploring what these developments mean for investors worldwide.

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#USMarkets #TechStocks #FedPolicy #FXTrading #AIImpact #LabourMarket #CurrencyTrends #InvestingInsights

Money

Tech stocks and Bitcoin tumble amid market uncertainty and rising job concerns

Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.

Published

4 days ago

February 6, 2026

Harvey Vargas

Wall Street plummets as tech stocks and Bitcoin fall, raising concerns about job market and economic stability.

Wall Street took a sharp hit Thursday as technology stocks and Bitcoin plunged, reigniting worries over the job market and global economic stability. Kyle Rodda from Capital.com breaks down how Alphabet and Qualcomm’s earnings may signal broader tech weakness.

Bitcoin’s recent drop also rattled crypto markets, with Coinbase shares falling sharply. Rodda explains how much of the decline is driven by market fundamentals versus shifting investor sentiment, and how rising AI expenditures are affecting investor confidence in tech.

The surge in unemployment claims, coupled with falling bond yields, is prompting concern over overall market stability.

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#WallStreetCrash #TechStocks #BitcoinDrop #MarketVolatility #JobMarket #InvestingTips #CryptoNews #Ticker