Between feeding the family and finding the perfect present, the festive period puts a lot of pressure on the purse strings. Yet Australians are splashing the cash more than ever, with the nation projected to spend 25% more on presents than 2016 – despite the population's money worries.

An uber-relaxed attitude, slack lending regulation and low financial literacy have caused Australians to become ‘addicted to debt’. So how and exactly why do Australians fall deep into debt? And how does this affect not only their mental health, but their relationships with banks?

Frustrated by their rising personal debt, ‘spending fasters’ are looking to regain control of their finances by cutting all non-essential purchases for up to a year. How do the women who take this challenge cope without life’s little luxuries? And is this method of saving effective in the long-run?

With over one in four living paycheque to paycheque, Gen Yers Down Under are struggling to manage their money. Hoping to offer this generation a more seamless way to spend, Afterpay is an online and offline payment provider that lets Aussies buy now, and pay in four fortnightly instalments.