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In 2011 Reserve Bank figures revealed that the national credit card debt had climbed by 42% in the previous five years to $49.3 billion, with $36 billion.

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Presentation on theme: "In 2011 Reserve Bank figures revealed that the national credit card debt had climbed by 42% in the previous five years to $49.3 billion, with $36 billion."— Presentation transcript:

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2 In 2011 Reserve Bank figures revealed that the national credit card debt had climbed by 42% in the previous five years to $49.3 billion, with $36 billion accruing interest A survey conducted this year indicates that 41% of Australian households with children will need to rely on credit cards to cover living expenses The survey also showed that “43% of Australians aged would use a credit card to pay for otherwise unaffordable expenses in the coming quarter, compared to 33% of year olds”

3 “If you lend money to one of my people among you who is needy, do not treat it like a business deal; charge no interest” Exodus 22:25. “Do not charge an Israelite interest, whether on money or food or anything else that may earn interest” Deuteronomy 23:19.

4 “Follow my decrees and be careful to obey my laws, and you will live safely in the land. Then the land will yield its fruit, and you will eat your fill and live there in safety” Leviticus 25:18-19.

5 “You may ask, ‘What will we eat in the seventh year if we do not plant or harvest our crops?’ I will send you such a blessing in the sixth year that the land will yield enough for three years. While you plant during the eighth year, you will eat from the old crop and will continue to eat from it until the harvest of the ninth year comes in” Leviticus 25:20-22.

6 “At the end of every seven years you must cancel debts
“At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel any loan they have made to another Israelite. They shall not require payment from anyone among their own people, because the Lord’s time for canceling debts has been proclaimed” Deuteronomy 15:1-2.


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