Saving and paying down debt have become national pastimes as Australia enters its first recession in nearly three decades. Amid revelations of a record economic contraction, household spending fell by $35.2 billion in the three months to June 30 while household savings rose by a whopping $42 billion. Fitzpatricks Private Wealth certified financial planner Randall…
Debt is a dirty word. Try and stay away from it as much as possible. Ever heard this before? Well, youre not alone. Yet contrary to common theory, debt isnt always a bad thing. In fact debt can indeed mean development. You’ve just got to change your mindset about why you use it, so the…
The Bank of Thailand is allowing unsecured loan borrowers to use collateral stemming from mortgage loans for debt restructuring through debt consolidation, with lower interest rates charged. The central bank has introduced an optional debt relief measure for consumer finance products as a debt consolidation method. Borrowers who have good debt-servicing ability for housing loans…
Most graduates leaving university today do so with a massive debt hanging over their heads. They will take many years to repay their accrued HECS-HELP debt through the taxation system. There will be little relief for these graduates as the government has slammed the door shut on the tax deductibility of these repayments against the…
“We have publicly supported the idea of a multi-seller warehouse,” Mr Nicholl told The Australian Financial Review. He said it would benefit small lenders that lacked the scale to get their costs down. “This should help them and is a good development for the market.” The aim is for such structures to eventually stand on…
University degrees could take 20 years to pay off under the Governments proposed HECS-HELP plan, with humanities and communications degrees taking the biggest hit. Arts, humanities, communications and social science degrees could take twice as long to pay off as it does under the current system. The plan puts a cap on what students can…
China says it has struck agreements with half of the 20 low-income nations that have requested debt restructurings as part of their efforts to tackle the coronavirus pandemic. Work on this is progressing well, the Chinese foreign ministry said, adding that the World Bank and major developed nations still held most of the debt of…
2.4 million of new funding to help households with money problems. More people will be able to benefit from free debt advice following investment from the Scottish Government. More than 2.4 million will be distributed among a number of advice organisations to expand their services and invest in more effective methods to help individuals with…
Financial institutions should help the beleaguered tourism industry by alleviating operators’ debt service burden for three years and encouraging businesses to maximise capability for a future revival, says a former tourism and sports minister. “If we believe Thai tourism still has a future, such a policy is essential,” said senator Weerasak Kowsurat. “We hope that…
With Australia now officially in recession, its more important than ever to safeguard your finances. You cant control what the economy is doing, but you can take precautionary measures to protect yourself in case you lose your source of income. Here are six ways to stay financially fit during an economic downturn. 1. Boost your…