| Home | April 2012News | CommBank Kaching lifts the lid on Australia’s Informal Borrowing Network |
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 CommBank Kaching lifts the lid on Australia’s Informal Borrowing Network- CommBank Kaching lifts the lid on Australia’s Informal Borrowing Network
- April 23, 2012
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ccording to a new study released today by CommBank Kaching, the average Australian borrows more than $200 from their nearest and dearest every month, equating to over $1.6 billioni. This billion dollar exchange between friends, family and colleagues is being dubbed the ‘Australian Informal Borrowing Network’ (AIBN).
The biggest contributor to the AIBN is ‘unforseen or emergency situations’, with just under half (49 per cent) indicting this is their most common reason for borrowing. However, for others simply ‘running out of money before payday’ (26 per cent), ‘never having enough cash’ (24 per cent) or ‘convenience’ (22 per cent) provide the reasons behind their informal borrowing needs.
Interestingly, the study shows big differences in the value of informal borrowing networks between genders, age groups...
- View more at: http://www.1888pressrelease.com/commbank-kaching-lifts-the-lid-on-australia-s-informal-borro-pr-391786.html
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