Get debt smart

Having debts hanging over your head can feel like a dark cloud that follows you everywhere you go. But there are ways to bring on the financially-fit sunshine.

When it comes to the dark cloud of debt, it can be hard to muster motivation to do anything about it. If it’s a big debt cloud, it can feel insurmountable. A small debt cloud? You may be tempted to continue making the minimum repayments until it has shrunk to nothing. But maintaining debt can cost you big in ongoing interest. Michael Watson from La Trobe Financial says getting debt under control can be easier than you think, and he has some expert tips to help you pay off your debt faster. Assess the damage Many of us have at least some debt – a mortgage, a car loan, credit card debt. Michael says if you’ve made the decision to tackle your debt monster, the first thing you should do…

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The Australian Women's Weekly (Digital) - 1 Issue, April 2022

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