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Rising home loan repayments got you thinking? Take control by cutting costs and managing your money |
I can't pay my debtsThe bills are piling up and you just don’t know what to do. Perhaps you’ve recently lost your job or had your hours cut back so you’re suddenly earning less money. Or this problem may have been creeping up on you. You’re not alone. Charities around Australia have been reporting big increases in the number of families they are seeing in financial hardship. Even people who traditionally haven’t needed financial help, including those with mortgages, are now turning to charities for emergency relief. Remember, the sooner you take steps to sort out your finances, the better your chances of stopping them from spiralling out of control. |  |
| STEP 1: Get help now | Not being able to pay your loans, credit cards and bills can be embarrassing and stressful. Sometimes it feels easier to bury your head in the sand than confront the problem. And the longer you leave it, the harder it will get. |
| STEP 2: Get out of debt | The worst thing you can do if you feel like you’re drowning in debt is ‘nothing’. The longer you leave the problem, the harder it will be to sort things out. |
| STEP 3: Stay out of debt | Some of us are better at managing money than others, but it’s never too late to learn. You can control your use of credit, learn to budget and save so you can make it through tough periods without major financial hardship. |
