About this episode:
You’ve seen Afterpay popping up all over the place, and are starting to realise that it’s a lot easier to get a credit card than you thought. Maybe you’ve decided to pay off your consumer debt and cut up your credit card. In this episode, we break down the various debt and credit products you may be already using or looking at, chat about the true cost of a personal loan and some debt demolition methods.
Credit Card Example
Assumptions: the effect of fees and additional spending are excluded; 2% minimum repayment rate; the extra repayment rate is held constant. This result is an estimate only. Use the MoneySmart Calculator (CLICK HERE).
Financial Counselling Resources:
- MoneySmart: Financial Counselling
- Canstar: What does a financial counsellor do?
- Financial Counselling Australia
- National Debt Hotline
- Good Shepard Microfinance
- StudyAssist – Loan Repayment Information
- HECs ATO Voluntary Repayments
Take Owen’s free finance course:
Podcast listener discount for Rask memberships!
- Use the coupon code “AFP” and get $100 off the upfront membership fee (just $299 for the first six months then $199 thereafter, cancel anytime!). Click here to learn more about Rask Invest. Don’t forget to apply your coupon code!
- Use the coupon code “AFP” and get $50 off the upfront membership fee for Rask ETFs! That takes the membership fee down from $199 to just $149 then $99 every six months. Click here to learn more about Rask Invest. Don’t forget to apply your coupon code!