DEBT050 Six steps to a successful Debt Master Plan (529 words)

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.