A (W)hole in the Financial Budget: Budgeting’s Influence on the Effective Use of Credit Card Debt in Australia

Ajzerle Sanja (), Brimble Mark () and Freudenberg Brett ()
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Ajzerle Sanja: Griffith University, Brisbane, Queensland, Tel: +61 7 3735 7111, Australia
Brimble Mark: Griffith Business School, Griffith University, Brisbane, Queensland, Tel: + 61 7 3382 1355, Australia
Freudenberg Brett: Griffith University, Brisbane, Queensland, Tel: + 61 7 3382 1196, Australia

Financial Planning Research Journal, 2015, vol. 1, issue 1, 55-72

Abstract: Credit card debt has become intrinsic to the way of life and are accepted as part of modern day living. This paper examines to what extent personal budgeting can influence the effective use of Australian credit card debt. The findings suggest that the most effective credit card debtors are those who consider they do not need a budget due to low income and expenses followed by those without a budget but often earning in excess of $180,000 p.a. Participants with the lowest effective use of credit card debt are those who do have a budget but rarely follow it.

Keywords: Personal debt; budget; credit card; effective debt (search for similar items in EconPapers)
JEL-codes: D14 E51 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:finprj:v:1:y:2015:i:1:p:55-72:n:1004

DOI: 10.2478/fprj-2015-0004

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