If you are in debt then you’ll want to be taking the right steps to get out of this situation. Financial Counselling Australia has released a new website, debtselfhelp.org.au, to help people to seek anonymous advice on escaping debt. Here’s some of the tips from the site:
- Don’t ignore the problem in the hope that it will go away. This will simply lead to larger costs and more significant financial challenges.
- Learn to understand your debts. Consider what you owe and how much more you will owe in the future if you fail to pay. This will help you to prioritise your debts and how you pay them back.
- Know your limits so that you can plan effectively. Financial planning requires that you know what you can afford to spend on living each month after you have met your bill repayments.
- If you find yourself still short of being able to pay then it is important that you take steps to solve this problem. Instead of allowing it to get worse, you can seek advice and potentially consolidate your debts to make them cheaper.
