Credit Simple
Are you thinking about taking the next big step in your life and applying for a home loan? Buying your own property is a major part of becoming financially stable in the future, because you have a huge investment as a part of your portfolio. However, if you don’t have a clean credit report, you could find it difficult to get favourable terms on your mortgage. When a lender looks at your application for a home loan, they’ll consider more…
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Are you finding your credit card debt racks up quickly every month, no matter how much you try to pay off? If you don’t have the right sort of account, or a limit set too high, it can be easy to blow your budget on a purchase you really don’t need. Adding debt to the point where you’re unable to repay lenders can affect your credit report. When you can’t pay what you owe, a default will be marked against…
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How regularly do you check your credit report? If you don’t know what’s on it, there’s a chance you could have defaults against your name that shouldn’t be there. A credit report will show you what loans you’re missing payments on, either because someone has taken out a fraudulent loan in your name or you forgot about a loan you’d taken out. There’s a lot of crucial information on there, and lenders use the document to find out about what…
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Have you ever thought about investing your money in things that aren’t going to give you immediate returns? Building wealth in your 20s in Australia might not seem necessary, but the earlier you put money into long-term investment strategies, the more benefits you’ll get over time. Compound interest in a savings account can help you to achieve your financial goals. Essentially it works by adding any interest your initial deposit earns to the same account, and the next interest payment…
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Everyone knows someone who has been a victim of fraud. It can be a total nightmare when a cybercriminal has dipped into your bank account, stolen your credit card details or taken out credit in your name. In the short term your credit score is going to take a dip because you can’t simply delete it. Don’t despair, however. You’re not the first person in this situation and it can be ironed out. There are a number of different types…
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Are you throwing money away every week on your shopping? Think online shopping for clothes you absolutely don’t need, or popping into a nice store because you like the look of something in the window and then walking out having spent $300. It’s okay – we’ve all been there. But putting thought into saving money on your shopping in Australia can help you to keep your bank account healthy, which means you’ll have enough money to pay your bills and…
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How long can you really afford to travel for? It’s a tough question to ask yourself, because ideally you’d constantly be jet-setting around the world and having a great time, but it’s unlikely that you can afford that. Even taking a month off can be a struggle when your income stops but the bills don’t. That’s why it’s vital you remember exactly what you have to pay for even when you’re not in the country, or staying at your home.…
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We know your new girlfriend or boyfriend wants to go out every Friday. Even two drinks each, some snacks and an Uber ride home could set you back $50. It’s dead easy to blow $100 if you throw food in as well. What’s more, dating can send your credit score south. Fast. Let’s say you spend $150 a week going out, $300 a couple of times a year on a weekend away, $200 on his/her birthday, and flowers or chocolates…
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If you’re on the verge of a serious financial problem, you need to act quickly. Going bankrupt or having multiple defaults listed on your credit report can severely impact your future ability to take out a loan or open a new line of credit. Lenders will look at your financial past, see that you’ve been unable to handle your finances, and potentially refuse your application. Examples of a major financial misstep include going bankrupt, failing to repay multiple debts over…
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Everyone’s an expert these days. From an Octopus making predictions on the 2014 FIFA World Cup to Dr Phil not even being a trained psychologist, all kinds of so-called professionals are waiting around every corner to help you find a better budget, a better home, a better you. The thing is, many people that Australians go to for advice – especially on their money – are not necessarily the best option. In fact, research shows nearly 3 million Australians are…
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