Rates Rise: Salvos Urge Caution This Christmas

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4th November 2009, 01:09am - Views: 1127





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THE SALVATION ARMY

MEDIA RELEASE


3 November 2009


RATE RISE: SALVOS URGE CAUTION THIS CHRISTMAS


The Salvation Army is urging Australians to consider the impact that interest rate rises will have on their

budget before spending this Christmas. 


Head of The Salvation Army’s Moneycare financial counselling service, Tony Devlin, said the positive news

about Australia’s economy may be masking the harsh reality for many Australians. 


He said: “We continue to see many people at our services harshly affected by the global economic crisis.


“There’s a real risk that people will overspend at Christmas, hoping that things are improving, then find

themselves in trouble early next year when the reality of the economic situation and rate rise kicks in.


“That’s when we’ll see even more people at our services, after the hype of the festive season dies down and

the bills start flooding in.


“We would encourage people to work out a budget now, and start their Christmas shopping as early as

possible, so they have time to plan and think through purchases in order to avoid resorting to credit.”


Audio grabs can be found http://salvos.org.au/radio/specials/


The Salvation Army has released a set of budgeting tips to help people manage their Christmas spending (see

attached).  


The Salvation Army’s Moneycare financial counselling is a free service providing help to Australians in

financial difficulties and crisis. 


To contact Moneycare, please call Salvo Care Line on 1300 36 36 22 or for more information regarding

locations and information and tips go to: salvos.org.au/budgeting

ENDS


Comment:

Tony Devlin, The Salvation Army’s Moneycare - 0412 440 060


Enquiries:

Adriana Guthrie, Media Officer - 02 9266 9820 or 0466 152 277






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