Australians Borrow Record Amounts Amid Rising Living Costs
Australians are taking out record personal loans, with $5.1 billion issued in the first quarter of 2026, as rising living costs deplete savings. Average interest rates for these loans stand at 9%. Calls to national debt helplines have also surged, indicating financial strain among households.
Why it matters
This trend affects households struggling with expenses, forcing many to rely on loans to manage their finances.
Read the full story at The Guardian AU→