Few things are harder than admitting youre struggling with debt, but help is at hand. I recently attended the launch of the National Debt Helpline, a service funded by federal and state governments, which has the potential to turn around the fortunes of Australians weighed down by runaway debt.
We are collectively carrying more debt than ever before at a time when wages growth is the slowest in decades. Its not a great combination.
On top of this, interest rates are at historic lows but its unlikely theyll stay that way forever. If rates start to climb, its a fair bet a growing number of households will feel the financial pinch.
The type of debt that tends to land people in financial hot water is have-it-now debt. Im talking about credit …
Read the full article at: http://www.bordermail.com.au/story/4505425/have-it-now-debt-lands-us-in-hot-water/