Tag: debt solution
Whether you want to take your partner out for a special Valentine’s Day or you’re feeling the pinch from Christmas presents still, debt can be hard to handle, particularly if you have more than one credit card. It might seem like an impossible task to get rid of your credit card debt but Australian Financial Solutions has a number of finance advisors ready to help give you financial advice and find debt solutions.
The WA Chamber of Commerce and Industry and Curtin Business School recently released a report stating that some people didn’t expect their debts to rise in the next 12 months. The report also showed just over 20 per cent of people said their debts had risen in the past year. Debts are often a mounting problem for many Australians and can cause serious stress and strain on relationships and family.
Loan consolidation is one of the most effective ways of reducing your credit card debt by lowering interest rates or monthly repayments. By combining all your current credit card loans in to one easy to manage and simple repayment, your debts could soon be a thing of the past. Australian Financial Solutions specialise in loan consolidation and debt solutions and can help you get out of the financial stress and strain of having debts. You can always contact us for more information about loan consolidation or have a confidential chat to one of our finance advisors.
Debt solution can be difficult to come by, particularly when you are receiving bills for credit cards all the time, but there is financial advice for all situations and levels of debt. Contact Australian Financial Solutions today on 1300 237 669 or email info@austfinsolutions.com.au
February 9, 2012
Australian Financial Solutions understand the financial pressures that can easily form after the Christmas season. Last year many West Australians were believed to have suffered from stress due to financial problems after the silly season. Debt solutions can be difficult to find, particularly when stress is mounting, but Australian Financial Solutions has expert finance advisors on hand to help you reduce your financial stress.
The cultural and societal expectations to provide gifts and expensive food during the holidays are often put on credit cards which can lead many Australians to debt and high interest rates. Coles recorded 2011 as the best ever year of Christmas sales with a 7.3 per cent increase in sales compared to Woolworths. The $17.5 billion profit increase is good news for the retail giant but it can mean a large post-Christmas debt for many Australians.
One of the best ways to avoid spending money on interest rates is to consolidate all your loans and credit cards. Australian Financial Solutions can provide you with financial advice regarding the best options for loan consolidation.
Debt consolidation is a way of combining all your debts into one payment. One of the major ways to save using loan consolidation is by obtaining a lower interest rate for all your loans or lower monthly repayments. This is a great debt solution and can help you get an overview of your debts and repayments.
For more information about loan consolidation or for general financial advice, contact Australian Financial Solutions on 1300 237 669 or email info@austfinsolutions.com.au
February 9, 2012
With unemployment figures set to rise and a slowing economy, many Australians may find themselves having problems repaying debt. A recent Dun & Bradstreet survey revealed many people expect to increase their debt amounts by using credit cards and other forms of credit, with credit highest amongst the 18-34 age group. A drop in property prices, job losses and dwindling investments are all contributors to a rise in personal debt.
If you’ve recently become one of the many Australians struggling with debt, its important to know what your options are. If your struggling with credit card debt, the best solution for you may be debt consolidation or loan refinancing. This brings all your debt repayments under one regular payment, making it much easier for you to manage. You may even find that you can lower your interest rate or monthly payments.
January 13, 2012
Australia’s current economic climate is troubling at best, and the country is still in significant debt, with no huge change in sight. Despite the fact that the budget and economy seem far off to those of us not involved with the government process, the debt created and managed by the government and country does directly affect our everyday lives. Australia is only just climbing out of the past few years of international and national financial crises and this affects our housing market, retail sector, wages, petrol and grocery prices, and employment levels and availability.
All of this can be quite overwhelming, particularly if you or your family are already struggling financially or heading towards debt. It might become difficult to make rent or mortgage payments, kids school fees, general bills and so on. There are number of debt solutions out there to improve your situation. Loan refinancing or debt consolidation can be arranged for those with personal, family or business loans. Debt agreements and financial informal arrangements can be sorted out to suit your personal, business or family needs and ensure that you get back on the right financial track.
The government isn’t offering many solutions for those who are in debt or struggling, which is why you need to take your finances into your own hands. It is all too easy to blame the economic climate, the government, the banks for your financial struggles – and it’s likely that one or more of those factors has contributed. However, it is important to not ignore your situation and to seek help. Financial advisors can assist you with debt solutions, and there are also website tools and online information to get you started.
So if you are ready to take your finances into your own hands and not let the economic climate affect you, why not give Australian Financial Solutions a call today for professional advice and debt solutions? Contact them via their website or call them on 1300 237 669.
September 28, 2011
Are you currently thinking about buying, renting or selling a house? Maybe you are in the market right now for a new home and need to sell your old place first, or perhaps you are looking to move out into your first shared rental with friends, and are worried that you will not be able to finance it. It is always best to be completely prepared when looking at property, no matter whether you are buying it, selling it, renting it, or investing in it.
Australia currently has the highest mortgage repayment rates of any country in the world, and purchasing out of your price range is not something to be taken lightly. It may be that you need to get out of your current living situation fast and paying out of your price range is necessary, or maybe you and your partner have just found your dream home and can’t quite afford it. In these situations, you do have options, and we would like to offer you some handy tips to think about before you take the first step.
Use the tools available to you: There are finance tools available on the Internet as well as from financial advisors that should not be overlooked. Tools like Loan Repayment Calculators and Budget Planners are worth their weight in gold, and can help you to figure out whether you do have the money to spend. Financial advisors can also assist above and beyond with working out if you do have the money to spend now, whether or not you will have it in the future, and they can also offer some financing options to help you along the way.
Finance options: There are many financing options available to you, whether you need some help with repayments, need a loan to purchase a property or to pay off the property you already own, or just need some assistance with rent agreements or payments. Debt consolidation ; putting all your debts into one easy to manage payment, or loan financing; replacing your existing loan with another loan -are two of the options that could suit your situation.
Watch the market: If you are only at the first stage of buying, selling or renting and are just thinking about making a change, make sure to watch the property market. Although sometimes the market does not change rapidly, it is a good idea to continue to check the market in your city and in particular watch the prices around the areas you are looking to buy or rent.
Seek financial advice: Financial advisors are on your side in the process, and can assist you with all of the above tips. They can offer financial options if you think you might not be able to come up with the money for that dream home, can assist with budgeting plans and sorting out repayments, and most of all can set you on your way to being debt free before you have even signed the lease. Financial advisors work solely with you and/or your partner, and each solution they offer will be tailored to your particular situation, no matter what it may be.
So don’t give up on buying that dream house, moving out of home, or even selling your existing property because of financial concerns. Seek help now and let the qualified, experienced and friendly team at Australian Financial Solutions help you to get on your way to being fully informed. So why not contact Australian Financial Solutions today to find the perfect financial plan for your personal needs. Contact us on 1300 237 669 for debt advice and assistance.
March 18, 2011
Whether you are still in the early stages of your working life, or are getting closer to retirement, it is important to think about your financial situation and savings for retirement. It is ideal to be debt free before you hit retirement age, but sometimes this is a tough goal to have.
The following are some important tips and recommendations on saving and preparing for retirement:
Budgeting:
Ensure that you are budgeting as much as is feasible as per your income and expenses. It may sound far-fetched to be saving for retirement at 30, but in 30 or 40 years time, you will be grateful that you put away those few extra dollars a month for retirement. Make sure that you are spending what you have, and try not to spend beyond your means. Calculate your loan repayments, spending, and plan your budget.
Debt Management:
Nobody wants to receive unexpected bills or unpaid debts when they have recently retired, but unfortunately it does happen. It is best to get into a positive routine of paying bills on time and only spending what you have. Due to unforeseen circumstances or simple overspending habits this may not always be a choice, but there are many other debt help options to take advantage of in order to become debt free. Credit card bills and other important expenses can be taken care of by consolidating your debt into one easy to manage payment, and outstanding loan payments can be remedied by loan refinancing. By kicking bad spending habits in your early working years, the benefit will be huge when it does come time for retirement.
Ask yourself the important questions:
There are many questions and options to think about when retiring. At what age will you retire? Will you be living in the same city, the same house, living the same lifestyle? Will you be supporting only yourself, your spouse, or will you still have other dependants – children, pets, elderly relatives? Will you be eligible for financial assistance and debt help from the government? Will you have healthcare or travel expenses? There are so many different issues to consider when nearing retirement, and this is why it is important to be debt free or seek help to adequately manage your debt before it is too late.
Seek Financial Advice:
Good financial advice can make all the difference when planning in advance for retirement. Financial advisors can effectively calculate your current budget and spending habits, and successfully estimate the amount of money and assets you will need to retire. Advisors can also assist with debt management and debt relief, or advise you on consolidating debt.
At Australian Financial Solutions, our team is dedicated to providing you with informed and educated advice in relation to debt management, finances, and assisting you with readying yourself for retirement. Contact us today on 1300 237 669 for debt advice and assistance.
January 12, 2011
Are your credit card’s payment terms and interest rate making debt reduction an impossible task? Have you ever missed a payment on your credit card and had to deal with unexpected consequences without prior notice from your bank?
Banks conduct regular reviews on your credit card limit and interest rate, based on a number of factors of which repayment history is one. Thoroughly check the terms and conditions on your credit card to avoid bad surprises. You might notice that failing to make one payment on time (and one only) might result in a reduced credit card limit or a higher interest rate, making it harder for you to cope with debt.
Credit card issuers calculate and charge interest differently. They also penalise late repayments differently. In general, expect to pay up to $60 if you are late in making a minimum repayment. With so much focus on interest rates and fees, many cardholders, especially those who pay late, would benefit from looking at how interest is calculated and think twice before choosing their credit card. When getting a new credit card avoid those that fail to give credit for part repayments.
When it comes to managing credit cards and to make sure your credit card debt stays under control, keep in mind those 2 simple rules:
1. If you think that you won’t be able to pay your card off in full every month, forget about ‘free days’ and try to get the lowest rate possible (aim for under 12%).
2. Set up a reminder for your minimum monthly repayment. You might want to synchronise the repayments with your pay day.
Our goal at Australian Financial Solutions is to provide financial solutions to people in debt. If you are struggling with unmanageable debt or simply seeking for Financial Advice in Perth, contact us today to obtain a free and confidential financial assessment.
Our goal at Australian Financial Solutions is to provide financial solutions to people in debt. If you are struggling with unmanageable debt or simply seeking for Financial Advice in Perth, contact us today to obtain a free and confidential financial assessment.
November 15, 2010
Are you facing unmanageable debts and struggling each month to pay your lenders? Many people continue with the burden of debt at levels that have become too difficult to manage. The fact is that you do not have to. One option to solve your unmanageable unsecured debt is applying for a debt management plan.
What is a debt management plan?
A debt management plan (DMP) is a debt relief method used for paying personal unsecured debts. A DMP will require debtors to deposit monthly funds with an agency (usually a Credit Counselling Agency) that will then disburse them to creditors. If you take a DMP, you’ll have to pay as much as you can afford each month.
DMPs typically last 36 to 60 months and benefit consumers by reducing collection calls and waiving finance charges. Lenders will often agree to reduce – and in some cases pause – interest and other charges on the debts. A DMP will help you repay more of the money you owe within a shorter period of time.
Is a debt management plan for me?
Debt management plans are best suited for people who can’t afford paying their debt repayments at their current level. A debt management plan reduces your monthly debt repayments but you will still be required to make repayments. If you can’t make realistic contributions every month or repay everything you owe within a reasonable period of time, this solution is not ideal for you.
What should I know before I choose a debt management plan?
If you fail to make the repayments you originally agreed on, your credit score will be affected. Also, unless your lenders do agree to freeze interest, the longer repayment period could cost you more overall.
If a debt management plan is not suitable for your circumstances, we have here, at Australian Financial Solutions, other debt management options that will release the daily pressure and give you the certainty of manageable financial commitments for the future. Get debt help, contact us today on 1300 237 669.
November 10, 2010
Ever heard your parents or grandparents say “When I was your age …..” or “Its not how things used to be….”? We could actually learn a lot from our parents instead of rolling our eyes and making cute comments.
When mum or grandma were younger and they wanted a new car, do you know what they did? They saved up. When they wanted a new winter coat or a holiday? They saved up. Dad didn’t run down to the bank for a loan. Granddad didn’t whip out his Mastercard. They saved up.
The age gap between the generation is more than years… it has become an attitude gap. The newer generations think nothing of putting everything on credit and worrying about it tomorrow. The problem with that philosophy is that tomorrow is here and now we all have to worry.
Credit card debt has spiralled across the nation over the last decade and now with the GFC an unwanted reality, many Australians are finding that they simply cannot meet their credit commitments.
“We have seen a massive increase in the number of enquiries,” says Natalie Levett, Associate Director at Australian Financial Solutions. “The overwhelming majority of people are struggling with credit card debt and other unsecured loans”.
With unemployment rising, job security lower and the threat that “things have to get worse before they can get better” from the Government, it looks like this is a dire situation set to continue and those people struggling with their debts need to get help.
“We can assess your situation over the phone and discuss what options may be available to you,” Natalie says, “don’t do another generation trick of ‘sticking your head in the sand’ because these problems won’t go away if you don’t tackle them head on”.
April 13, 2009
- Before you go shopping, write a list… and if it’s not on the list, don’t buy it!
- Keep all shopping receipts over a few weeks and work out an average of your spending, as it is unlikely that you will spend exactly the same amount each week.
- Keep a notebook and jot down each and every item you buy each day. Eg. Make sure you include your take away coffee, the sandwich at lunch and the afternoon chocolate treat!
- Assess your real necessities and cut out luxury items until your debt in back in control. For example: pay TV, socialising, and adding to your wardrobe are considered luxury items.
- Credit card debt: Do you have more than one credit card? If so, you are paying more than one interest rate. If you must have a credit card, limit yourself to one card only and shop around for low rate or interest-free-period cards. This includes store cards! Consider a switch to a debit card completely and shop with your own money.
- Try to clear the balance of your credit card each month to avoid interest. If you can’t clear the balance, try to pay more than the minimum payment to limit the interest charged each month.
- Loans and other credit: If you are juggling various credit facilities you are also paying more than one interest rate. Try to roll them together into one loan and thus one manageable repayment.
- Set out your household budget and stick to it! Don’t forget to include insurances, utilities and hire purchase payments.
- Car loans: Consider whether you need to have an asset which is depreciating in value faster than the loan you are repaying. Perhaps downsizing is the answer?
- Don’t be afraid to ask for help before it’s too late! If you have attempted loan consolidation and spoken with your creditors, there are still other debt solutions to be explored.
February 13, 2009
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