Kiwis turn to credit cards as clouds gather

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if you have to use your cradit card let it be on buying seeds. Seeds and compost and start that veggie patch. NEXT, BURN THE CREDIT CARD. Get whatever work you can and work your way out of credit card debt. Lay low and live within your means. Whatever you do, do not get more into debt. Trav, (who burned her credit card three years ago)

As the financial crisis hits home, more New Zealanders are piling up debt on credit cards to see themselves through.

Almost a third (31 per cent) of people aged 18-49 expect to use their credit cards to cover otherwise unaffordable expenses over the next three months, according to a survey conducted by Dun & Bradstreet.

That is a rise of 9 percentage points since the survey was last conducted in June 2008.

And the flow on effect is that 20 per cent of middle income earners expect to be carrying increased debt over the next financial quarter. Middle income earners are defined in the survey as those earning $30,000 – $49,999.

Roughly six per cent of low and middle income earners are also pessimistic about their ability to meet their next repayment.

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