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4 Types of Debt to Avoid

types of debt to avoid

In the course of our lives many of us are often forced to take our some form of loan in order to fund our daily needs. However, this can lead to a pile up of debt that creeps up on you before you even realise it. Here are four types of debt that you should avoid and ways to prevent taking out a loan... Continue reading

Tags:  Debt Management Tips

5 Tips to get over your Debt Hangover!

getting over your debt hangover

With Australia now sitting at an all-time household debt high of over $1 trillion, it’s no surprise that the FCA (Financial Counselling Australia) headlined mortgage stress as a top contributor to Australia’s “debt hangover”. The CEO of FCA went on to express that 30% of Aus... Continue reading

Tags:  Bad Debt

3 Ways to Immediately Improve Your Savings Habit

improve your savings

Embracing a saving culture is one of the most important decisions you can ever make in life. Saving enables you to prepare for the unexpected and plan for life after retirement. You need to do everything possible to develop a saving habit. It needs to be something you enjoy doing instead of a burden... Continue reading

Tags:  Budgeting

New Australian Credit Requirements

australian credit card requirements

Applying for credit cards, loans and mortgages just got a whole lot harder – or easier, depending on how good you are at making repayments. With amended privacy laws, new national credit reporting requirements have increased to allow lenders access to a much more information about a customer&r... Continue reading

Tags:  Credit Card Debt

How to Stay on Budget When you’re in Debt

staying on budget when in debt

All people should be taught the value of making a monthly personal budget. If handled properly, a good budgeting process can help people achieve their personal financial goals without an over-reliance on consumer debt (personal loans and credit cards). In some circumstances, people who fail to budge... Continue reading

Tags:  Budgeting

Do I Really Need an Emergency Fund? Here are the Benefits

emergency fund

Roof leaking out of the blue? Car broken down in the middle of a highway? The unfortunate aspect of emergencies is that you never know when they are going to occur. These scenarios may consequently lead to you being hundreds OR even thousands of dollars out of pocket. However, an emergency fund coul... Continue reading

Tags:  Debt Advice

How to Get Over Your Debt Hangover!

debt hangover

What is a Debt Hangover? With Australia now sitting at an all-time household debt high of over $1 trillion, it’s no surprise that the FCA (Financial Counselling Australia) headlined mortgage stress as a top contributor to Australia’s “debt hangover”. The CEO of FCA went on ... Continue reading

Tags:  Debt Advice

The Assets That You Lose in Bankruptcy

assets you lose in bankruptcy

Bankruptcy can be an effective debt relief solution, but there are real consequences. During bankruptcy, many of your assets are up for grabs and you can potentially lose everything from cash in your bank account to real estate, cars, and investments. A trustee appointed by the court to administer y... Continue reading

Tags:  Bankruptcy

Personal Debt Agreements Still on the Rise

increasing personal debt agreements

Overall in Australia, and especially in Western Australia, personal debt agreements are on the rise. Traditional bankruptcies have also increased, but far less so than personal debt agreements. In Western Australia, personal debt agreements have increased nearly 30 percent, while bankruptcies have i... Continue reading

Tags:  Debt Agreement

Planning and Preparing for Retirement

planning for retirement

As people head towards their late 50s or early 60s, they may be wondering about when it will be right for them to retire. The benefit of a compulsory superannuation scheme allows individuals to be somewhat prepared for this eventual outcome, whilst there are even cases of people who’ve been pl... Continue reading

Tags:  Personal Debt Management

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