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This article alerts your readers about the importance managing credit cards and provides simple suggestions to turn them into an effective money management tool.

Credit cards certainly make life easier – they are simple to use, accepted almost everywhere, and help you to buy what you want, when you want, particularly online. So much so that living close to the credit limit has become the norm for many people and spending can quickly get out of hand.

To make sure your credit card works in your best interests, use these tips to stay on top of your debt.

This article provides practical advice on debt management by explaining the rights individuals have when dealing with debt collectors and offering steps to take control of their finances. It emphasises proactive measures like listing debts and negotiating payment plans with creditors. Additionally, it highlights resources like the National Debt Helpline and financial advisors to help formulate a debt management plan.

Debt is a fact of life; some might say it’s a necessity. Rarely is a home or large-ticket item purchased without finance of some kind.

Australians typically manage their financial obligations well, but rising interest rates, cost of living pressures and unexpected expenses combine to place stress on a household budget.

In an increasingly cashless economy, it’s difficult to keep track of spending, and before you can say, tap-and-go, the morning latte and toastie has maxed out the credit card.

This article discusses the rise in Australian household debt, explores the role of Debt Management companies in helping manage debt, and offers alternative strategies such as budgeting, negotiating with creditors, government assistance, and financial counselling to empower individuals towards financial recovery.

Australian Bureau of Statistics, (ABS) figures indicate that between 2017-2018 and 2019-2020 total average household debt rose from $190,000 to $204,000.

That’s an increase of over 7% in two years!

The reasons why would make for an interesting study, however a more pressing question might be what can we do about it?

Combine high levels of debt with rising interest rates and a cost-of-living crisis, and it’s no surprise that Australian households are reaching out to Debt Management (DM) companies to help regain control of their finances.

Managing debt can be challenging, especially when interest rates are involved. Understanding the impact of interest rates on debt is crucial to help individuals make informed financial decisions. This article explores how interest rates affect managing debt and provide some tips on how to navigate these challenges.

Credit cards, personal loans, and mortgages. While it can be easy to pick up debt as you go through life, changing interest rates, workplace interruptions and other life changes, can make it much, much harder to repay that debt.

A few simple tips can make the task a lot easier.

Taking Stock of Your Debts
First, know exactly what debts you have. If necessary, write a list of every debt you have, detailing the exact amount outstanding, the rate of interest being charged, including both the interest rate and the dollar amount charged each month and the time required to repay that debt.

With Australian households being one of the most indebted in the world, this article explains six key steps to quickly get your cash flow back in the black.

Australian households are the fifth most indebted in the world, according to data from the OECD. A typical family with disposable income of $100,000 has an average debt of approximately $210,000. And with rising interest rates and rampant inflation, the cost of living will only continue to escalate.

Home loans, credit cards, car loans and personal loans all contribute to financial pressure. One and a half million Australian households are currently under mortgage stress, so if you feel overwhelmed by debt, then rest assured you’re not alone. But with dedication and a smart strategy, you can quickly get your cash flow back in the black.

This article explains what drives consumer spending and discusses ways to control your finances while avoiding the downward spiral of trying to keep up with the Joneses.

There’s a quote that says, “Money can’t buy you happiness, but it can buy you a yacht big enough to pull up right alongside it”.

True if you’ve got that sort of money. For the rest of us, our spending is usually clothing, gadgets and cars – the kinds of things that make us happy.

Australian Bureau of Statistics (ABS) data suggests that consumer spending is influenced by job security and economic factors like interest rates and inflation.

When was the last time you considered the effect your financial wellbeing has on your overall health? This article touches on the stressors that managing our finances places on our health and provides five easy to implement strategies to improve our finances and our overall wellbeing.

In these ever-changing and uncertain times in society, there has never been a greater emphasis on our health and wellbeing.

However, there is a crucial element that is often overlooked – our financial wellbeing. When addressing our overall health, it is essential that we also look at the responsibilities and stressors that come with managing our finances.

According to the Organisation for Economic Co-operation and Development (OECD), the average Australian household finds themselves in debt around 203% of their net disposable income, ranking us fifth worldwide behind countries such as Denmark and Norway. In this debt race, the further away from first place we come, the better!

As we steadily move towards a cashless society, technology such as “tap and go” has meant that Australian households are one of the most in debt in the world. This article discusses five easy ways to reign in your debt and get your savings goals back on track.

Prior to COVID, we were steadily moving towards a cashless world. Post 2020, even the most resilient of us has made the leap to tap-and-go payments sooner than we expected.

From the morning coffee to filling up the petrol tank, we wave that plastic with little thought to the impact on our account balances.

In fairness to us, many retailers are now adopting the ‘no-cash, please’ trading regime, but we Australians have a reputation for embracing technology and touchless shopping is no exception.

The importance of your credit score is often forgotten until you find yourself applying for a loan. This article explains how to find your credit score and details five things you can do to improve it.

If you’ve ever had a mobile phone, a credit card or any kind of finance – including a gas or electricity account – you’ll have a credit score.

Lenders check your credit score when assessing loan applications – the better your score, the more likely they are to lend to you.

Your score is based on factors such as:

It's understandable to feel like you'll never get out of debt, save money and get ahead financially. Changing your thinking around your finances, however, and making sure your money is working for you will reap great rewards over time. In this article, we've outlined a few ways you can create savings while paying off debt.

Over the past 30 years, Australians' household debt has increased. According to the Reserve Bank of Australia, our household debt-to-income ratio has risen from 70 per cent in the early 1990s to around 190 per cent today. With numbers like this, it's understandable that you might feel like you'll never get out of debt. Changing your thinking around your finances, however, and learning how to make sure your money is working for you will reap great rewards. Below, we've outlined a few ways you can create savings while paying off debt.

If you’ve ever laid awake at night thinking about your finances you’ll know: financial stress can be debilitating. What you may not be aware of is the strong link between financial stress and mental health.

According to the Australian Institute of Health and Welfare, 4.2 million Australians received mental health related prescriptions from their doctors over the 2017-2018 period.

Though governments annually spend over $9 billion on mental health, there’s a continuous need for more resources, funding, and understanding around mental health issues.

This article discusses the timely topic of household debt and provides an explanation of good debt vs bad debt, lists warning signs to look out for, and provides solutions to take back control.

By the end of 2018 Australia had, relative to the size of its overall economy, one of the highest levels of household debt in the world. At 127% of gross domestic product (GDP), our household debt, as a percentage of GDP, had nearly doubled over the last 20 years.

So are Australian households groaning under the weight of oppressive levels of debt? For the most part the answer is no. A major reason for the increase in household debt is that interest rates are much lower than they were 20 years ago, so it’s easier to service larger loans. And over 90% of our household debt is owner-occupied home loans and investment loans.

This article explains how the now popular ‘buy now, pay later’ offers work and how to make sure they don’t create unmanageable debt. It uses a case study and recommends financial guidance to overcome debt problems.

Before heading off on an overseas holiday, Sam decided to buy an expensive new camera to document his travels. The camera store offered a ‘buy now, pay later’ option, and attracted by the ‘no interest’ promise of the credit provider, Sam signed up.

All was well to begin with. Sam had a great time on his trip – in fact, maybe a bit too much of a good time. On returning home he’d maxed out his regular credit card and, with insufficient savings, he was unable to maintain the required repayments on his separate camera debt. And while, true to the issuer’s promise, he didn’t have to pay interest on the overdue payments, he was charged late fees on the repayments he skipped. Along with the standard payment processing and account payment fees, Sam’s camera ended up costing a lot more than he anticipated.

It is commonly reported in the press that Australians are suffering under growing levels of personal debt. The figures in this article are frightening and with the growing use of the easy “tap and go” technology it may look like it can only get worse. This article provides some simple tips on how to overcome the traps of falling prey to credit card debt. It also recommends talking to a financial adviser to investigate solutions.

Talk about hammering the plastic. In May 2021, Australia’s 13.3 million credit card accounts were used to make over 276 million transactions with a total value of $27.9 billion. Card holders who don’t pay their balances in full every month are currently paying interest on more than $20 billion worth of credit card debt. Interest rates range from 10% to 22% per annum so that adds up to billions of interest owing – and growing!

It’s not just the easy money that cards provide; it’s the easy form of delivery via “tap and go” that’s pushing our debt to extraordinary levels. The quicker the transaction, the less thought or planning required. Pay now and think about it (and deal with it) later.

Don’t become a statistic - here are some things to look out for plus a few tips.

This article tackles the question of lending money to loved ones. It covers a weighty topic in an easy manner while providing practical suggestions and possible alternative solutions.

What would you do if a family member asked to borrow money – besides the less painful option of beating yourself over the head with a fence paling? You want to help, but you’re right to be wary.

It’s a difficult subject that despite everyone’s best intentions, often ends in tears.

You’ve worked hard, saved for retirement, paid off your home and raised your kids. You’re sitting on a nice little nest egg and expect life to be cushy. Here it comes:

This article alerts your readers about the perils of not managing credit cards and provides simple suggestions to turn them into an effective money management tool over this coming Christmas.

Christmas is a time of giving and receiving, but as we approach this most dangerous time of the year for credit cards, we’d like to give you a quick refresher on the best ways to use your plastic so you don’t end up with a Christmas hangover of the financial kind.

This article provides 6 handy tips (or reminders) for budgeting and other ways to save money.

The word “thrifty” is rarely thought of in a positive sense but that’s not fair because if we continually spend more than we earn, our debts will eventually catch up and other words such as “default” or “bankrupt” might become more familiar.

Being thrifty doesn’t mean doing without – quite the opposite. Here are six simple tips to build up your savings.