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Dealing with Debt

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Tenth of Australians fear that they will die in debt

If you are worried about debt now, hope that you are not one of the 10% of Australians that fear they’ll still owe money when they die.

A Finder survey of more than 1,000 Australians finds that more than half owed money on a variety of debt including mortgages, credit cards, mobile phones and loans.

And according to the Australian Prudential Regulation Authority, it’s not just that we owe money, it’s that the amount is rocketing. Debt owed for credit card and loans has increased by $2bn in the last year, up to $109bn in July. More than $1.37 trillion was also owed on mortgages.

It is the youngest in society who appear to be the most pessimistic about paying off debt, with 12.5% believing that they will never say goodb .....

19 Oct 2015 by

Ian Carpenter

 in 

Dealing with Debt

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Typical Australian in $378,695 of debt

The typical Australian now owes an average of $378,695 in debt, including $357,500 in mortgages, $3195 on credit cards and $18,000 in personal loans. Just the home loan figure has increased by a scary $100,000 since the credit crisis in 2008 – with house prices increasing by up to 44% during the same time.

Perhaps with house prices increasing by this much it comes as little surprise that mortgage values have gone up significantly but we have heeded warnings in other areas. Credit card usage is up by just 2% since the start of the crisis and we now seem to be searching for fewer personal loans, according to comparison sire Mozo.

With this amount of debt to servic .....

1 Aug 2015 by

Ian Carpenter

 in 

Dealing with Debt

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Australians not ready for possible interest rate hike

Household debt has increased by 28% over the past 5 years and now sits at almost $1600bn, one of the highest levels of household debt in the world

22 May 2015 by

Barry Stamp

 in 

Dealing with Debt

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One in three have no savings

While many of us agree that if we lost our jobs we’d need six months of wages saved, a third of us have no savings

5 Dec 2014 by

Ian Carpenter

 in 

Dealing with Debt

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More young people enter into Debt Agreements

More and more Australians are entering into Debt Agreements but what does this mean for your credit report?

19 Nov 2014 by

Kelly Luff

 in 

Dealing with Debt

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