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debt

Good debt, bad debt. Know the difference.
Good debt, bad debt: Know the difference

Debt’s bad, right? No, it’s good. Okay, okay. It depends on the situation. Debt’s good if it has a positive effect on your financial future. It’s bad if you’re buying unnecessary stuff and falling behind financially. Good debt Debt can be an investment. But before you tell your mates you’ve ‘invested’ in a new surfboard or the best winter coat ever, read on. Good debt is something that you will make money from. Here’s how: 1. Home loans Homes go…

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Young, single, and on a budget? Skip the mistakes that others make

You’re young, single and on a budget. It’s hard being a ‘yadult’ sometimes. But life’s a lot more fun if you’re not stressing about the power being cut off. Take some tips from others’ mistakes and skip the ‘shoulda known better’ stage of your financial future. Here’s how: Have a spending plan. That’s a budget, but if you think of it as spending plan it doesn’t feel like a torture device. The idea is that you get a pen and…

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Parents behaving badly: How parents’ money habits can rub off on the next generation

The concept of ‘monkey see, monkey do’ is alive and well in Aussie families, and that includes when it comes to our parents’ habits with money. When parents behave badly with money, guess what their children do? As a parent, your role modelling is one of the most powerful indicators of how well your children will survive financially. Whether your children are two or 20 you can set them a better example. Don’t see money and spend it Do you see money…

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People helping each other over a mountain
Feeling overwhelmed by your money problems? Here’s some free expert help

If it feels as though you’re struggling with money problems, the best thing you can do is ask for help. You’re not the first person to get into debt, and you won’t be the last. The sooner you get started on fixing the problem, the sooner you can put it all behind you. It can be amazing how much weight feels lifted off your shoulders once you sit down with someone and lay out your situation. There are many, many people…

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Couple unpacking boxes in home
The pros and cons of becoming a guarantor

‘Going guarantor’ are two dangerous little words. “Nan, will you go guarantor on my car? You don’t have to pay any money.” Stop right there. Going guarantor can be a great way to help others out. But it’s way more risky than most people think. Read this article before you say yes or no. The worst-case scenario is that the lender comes after you for the money. Parents have lost their homes from going guarantor and families have been torn…

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The four pillars of wealth: Your way to a richer future

There’s no magic in becoming financially fit. But Credit Simple’s Four Pillars of Wealth approach can help you get there. Going from debt to building wealth is easier than you might think. We guarantee there are people around you earning no more than you do who are well on their way to wealth. Here’s how to become one of them: Pillar one: spend less Do you know your needs from your wants? It’s only you who suffers if you’re not…

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