Australians are getting overloaded with debt to make ends meet despite many working harder and longer hours, research from internet auction site eBay reveals.
The research shows Australia's love affair with credit was strong, with more than two-thirds of Australians happy to borrow money to maintain their lifestyle.
The nationwide survey of about 850 people revealed that seven out of 10 Australians were working longer and harder in an effort to meet obligations and negotiate some of life's bigger financial hurdles.
The researchers found that one-third of first-time car buyers used some form of credit to finance their car, while three out of 10 Australians used either a credit card or bank loan to fund moving out of home for the first time.
The survey also found that 45 per cent of new parents said that despite planning financially for their baby, they still had to fork out for unexpected costs.
EBay, in partnership with the founder of savings tips website SimpleSavings.com.au, Fiona Lippey, have produced the Stages of Life Survival Guide.
For more information on the eBay Stages of Life guide visit www.eBay.com.au/stagesoflife.
SOurce: AAP
