THE festive season's over and school holidays are almost done, but credit-card problems are beginning for many families.  

Tempted by easily obtained cards and offers of increased credit, many consumers are falling into a debt trap.
In 2009 Australia topped $45 billion in credit card debt, or $3139 a cardholder.  

Recent summer holidays and school fees mean some families now owe much more.  

To cope, Choice spokeswoman Ingrid Just recommends working out your monthly spend and using the credit card that best suits your situation.

Ms Just says all credit debt should be consolidated into the best account for you; the worst thing you can do is get a new card or cards to pay off others.

Consumers should also be mindful of loyalty programs, and ensure they pay the interest off at the least each month.


"By shopping around for a credit card that works best for you, you can save up to $440 a year,'' Just says.
Choice's Compare, Ditch and Switch site (via www.choice .com.au) allows consumers to compare credit card deals, rates and rules.

Consumer Affairs Victoria's www.moneyhelp.org.au website also offers advice and warns a $1000 debt can take 11 years and $860 in interest to clear if you make minimum 2.5 per cent repayments.

It recommends seeking help from your bank or financial institution before things get out of control.

For free debt advice or to find a financial counsellor, call Consumer Affairs Victoria on 1300 558 181. Net link: www.consumer.vic.gov.au

MANAGING CREDIT CARD DEBT

* Use cash if possible. Avoid credit cards unless you can pay them off in the interest-free period.

* If possible, pay the whole balance in the interest-free period.

* Don't exceed the limit unless you can pay it off in the short term, especially if your income is reduced.

* Don't get a second credit card believing it will solve your problems.

* Avoid credit-card cash advances, as interest charges apply immediately.

* Consider cancelling direct debits to better control what you pay and when, but don't breach contractual obligations.

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Some families are using their credit cards to subsidise their weekly income, because so many are on part-time hours now their pay doesn't go far enough to meet the rising cost of living.

This system works for a while, but eventually catches up with them.....then the woes begin 

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yeah maybe I'm wrong after all. I forgot we have more vacancies than people to fill them lol  What will it be next quarter?  -2% unemployment?