Posts Tagged :

debt

Five top money tips for preparing for Christmas

The Christmas season can be a tough one, and our data shows Aussies are more likely to let their credit bills languish unpaid at this time of the year compared to any other. If you’re anything like the average human, you’re probably feeling the effects of spending up large in the lead-up to the festive season and in the lead up to Boxing Day sales. “It’s easy to get caught up in spending over Christmas, but if you’re going to use credit to…

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Four saving strategies for spring and summer

As the winter months come to an end in Australia, you’re probably antsy to get out in the warmer weather. But getting out more could also mean increased spending. If you’re trying to figure out how to save this spring and summer, easy ways to get a boost include sticking to a budget, using credit card rewards, having social functions at home and saving on energy costs. 1. Stick to a budget Sticking to a budget is easier said than…

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7 hobbies guaranteed to stop debt stress in its tracks

Do you regularly worry about money? You’re not the only one; nearly half of Australians cited personal finances as their biggest cause of stress over the past five years. But if you’re tired of fretting over your finances and how they’ll impact your credit score, why not try a new hobby to take your mind off things? We’ve compiled a list (backed up by research, naturally) of ways to help manage your money worries. Socialising with friends You’ve probably read ‘socialising…

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Scared of your finances? 5 ways to get control over your money without looking through your fingers

Money management can be a terrifying thing. Especially if you’ve got debt – seeing large sums go in and out of your bank account is enough to give anyone the willies, even if it’s ‘good’ debt (such as a home loan). But there are strategies you can use to cope, and to not only manage your money but actually overcome those ghosts of spending past. Here’s five we’ve rounded up. Know where your money is going. Knowledge is power, and…

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Putting everything on your credit card? There are other ways to pay

Don’t believe you have to have a credit card. Paying interest sucks and there are other ways to pay. It sucks the lifeblood out of your finances. That’s because unless you clear your entire bill within the interest free days, you pay interest. That interest means you’re paying as much as 20% more than your mates for the same things, which may have a detrimental effect on your finances over time. Other (sometimes better) ways to pay Thankfully there are…

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So you want a clear score. Can payday loans stop you from getting one?

Looking for a clear score but wondering if a payday loan could stop you from getting one? Payday loans became prevalent as quick fixes for Australians in the 1990s, responding to the need for small, personal loans that banks and credit unions would no longer provide. Payday loans were frequently offered to people with bad credit or who didn’t have clear scores, making the loans even more ubiquitous. A small payday loan can be up to $2,000 and has a…

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Has Cupid’s arrow struck? Don’t date your way into debt

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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How long does it take to recover from serious financial difficulty?

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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How can I fix my credit rating?

Is your credit score making lenders wince? You may struggle to obtain mortgages, car loans, credit cards and other forms of borrowing if you fail to fix your rating. The goods news is that you’re aware there’s a problem if you’re reading this, so let’s explore some of the ways you can repair your credit rating in Australia. Defaults are payments on a credit account that are at least 60 days overdue and worth $150 or more. 1. Identify mistakes…

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Credit Simple launches Clear Name, a way for people to clear outstanding defaults at a discount

Today we announced we’re launching Clear Name, a sister business to Credit Simple, which is going to give Aussies a way to clear outstanding defaults at a discount. Clear Name is an Australian first, and it’s designed to give people a chance to pay off unpaid defaults online and at their own discretion. People will be able to access Clear Name through Credit Simple. We reckon Aussies deserve the best shot at living a healthy financial life, so we’re calling…

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