DEBT010.doc
A simple plan to take control of “bad” debt, giving the reader a better understanding of the advantages of “good” debt. It includes some astounding statistics that will shock your readers.
Debt can be a wonderful slave but an unforgiving master.
Australians have an extraordinarily high level of consumer debt. It fuels our lives. For example, there were more than 276,700,000 credit card transactions just in the month of May 2021 – valued at more than $27 billion! ($443 million of this was in cash advances). The scariest part of this equation is accruing interest on outstanding balances. With interest rates ranging from 10% to 22% per annum, billions of dollars are being added to these outstanding balances every year. Banks LOVE credit cards!
Please don’t misunderstand; properly managed debt can be a great tool. Most people need it to help them purchase their first house and other necessities in life.
How to master your debt
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