Would you pay $1,248 for a toaster? That is the cost of renting a toaster for $8 per week over a 36 month contract – as advertised by a national ‘rent-to-own’ business. WARNING: Rent to own schemes are possibly the most expensive way to buy anything, ever. Paying a small amount per week sounds very affordable and […]
Categories: Factsheets, Family / Personal Issues, Loans / Debts / Credit, Make Sense of Money, UnemploymentCredit Cards may be a convenient way to shop, but they can easily tempt you to buy more than you can afford, leading to large debts. Typical high interest rates on credit cards mean an unpaid bill grows quickly. Know the Warning signs: ‘Minimum Monthly payments’ do not reduce the amount owing on a card […]
Categories: Can’t Pay the Bills, Factsheets, Loans / Debts / Credit, Make Sense of MoneyIf your car is a security for a loan it can be taken from you or ‘repossessed’ if you can’t make the loan repayments. This is usually when you are more than two months behind or if the lender thinks the car is at risk of damage. You may be the registered owner but the […]
Categories: Can't Pay the Bills, Family / Personal Issues, Legal Threats, Loans / Debts / Credit, Unemployment, Urgent Financial HelpBuying a car is a major purchase. Some people can save carefully and pay for a car with little or no loan. Many others need some type of loan. Plenty of banks, finance companies, even car dealers can offer you a loan to buy a car. The problem is – not all car loans are […]
Categories: Factsheets, Loans / Debts / Credit, Make Sense of Money, Money TopicsSuperannuation, also known simply as ‘super’ or a ‘superfund’, is a government regulated savings scheme. It’s basically a type of forced saving that you can’t access until after you’ve retired from work at a certain retirement age, unless in exceptional circumstances – see Early Release below. How it works Employers are legally required to pay a […]
Categories: Factsheets, Make Sense of MoneyWhat is a Guarantor? Sometimes a lender will only approve an applicant’s loan if somebody else (usually a family member) agrees to be a ‘Guarantor’ which ensures the loan can be repaid by another source if needed. What Does this mean? Basically, a Guarantor makes a promise, or guarantees to pay off the loan if the applicant, for […]
Categories: Factsheets, Family / Personal Issues, Loans / Debts / Credit, Money TopicsBankruptcy Bankruptcy is a legal process through the Federal Court that can clear away most of your debts (there are some exceptions), stop any further legal action by lenders and give you a fresh start, free of the burden of unmanageable debts. Bankruptcy can be one of many solutions to debt problems for people who […]
Categories: Factsheets, Make Sense of MoneyIf a friend or family member asks to borrow money from you, what will you do? Everyone likes to try and help others where they can, but if you really can’t spare any money, you need to be able to say no. A genuine friend should understand and accept your position without hurting the friendship. […]
Categories: Family / Personal Issues, Loans / Debts / Credit, Money Topics“Free, Independent, Qualified and Confidential” A Financial Counsellor helps you sort out your money troubles. They provide information, support, assistance and advocacy for people in financial difficulty or who have problems with debt. For example, you might be: Behind on your rent or mortgage Unable to pay minimum monthly payments on credit cards or loans […]
Categories: Factsheets, Make Sense of MoneyIf you don’t pay your home phone bill, your telephone service can be disconnected. Here are some options to try and avoid this happening:
Categories: Can't Pay the Bills, Legal Threats, Loans / Debts / Credit, Unemployment, Urgent Financial Help
Better Place Australia Victoria is partially funded by the Australian Government
