Warwick credit card holders are struggling to pay their bills, adding one terrible new figures among six consumers living with increasing credit card debt, struggling to close their bills.
According to The Australian Securities and Investment Commission, consumers are becoming overwhelmed with outstanding payments, with a total national debt of $ 45 billion.
Warwick Finance Broker, Jacob Cadman said the availability of credit cards is a contributor to rising debt. "Credit cards have always been a simple form of profit," said Mr. Cadman.
"And to forget your master plan and make yourself easier to dig in more debt." Southern Doos residents do not know what an extraordinary number they are spending, Mr. Cadman said.
He said, "Of the 10 people, eight people have no idea how much they spend each month." He said, "They are not sufficiently educated in the real importance of the savings and even without the realization of it, the debt is sinking."
It is very easy to lose control of the budget to close the utility and paying meaningless expenses. To avoid credit card debt, the top tips of Mr. Cadman were to maintain your limits, show how banks can save you and understand what your rates are.
He said, "If you want a credit card, set a limit that you know you can pay within one or two months." You can save money and pay your bills to get a good credit rating to show your banks. The same time.
"If you need money, however, the more interest you pay, the more you always know what your rehabilitation is and how attractive it is."
In doubt, the finance broker said that you can not buy anything without a credit card but you can not afford it.