Households curb spending as times stay tough
By Ethel Hazelhurst
Faced with rising debt costs and higher food and fuel prices, households are cutting back on spending.
They bought furniture, household furnishings and domestic appliances in the first quarter, but were reluctant to spend on motor vehicles and big-ticket recreational and entertainment goods, according to the Reserve Bank quarterly bulletin, released yesterday.
Consumers are paying attention to the rise in interest rates. Now is the time to consolidate debt and seek debt management if necessary. If you want to buy a car, make certain you have the best car finance. Compare insurance to get more value for your money.