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Question: I have slowly seemed to accumulate a lot of debt home loan, car loan and two credit cards. I now want to pay them down in the fastest way possible. Should I also consolidate these debts?
The level of our debts is really starting to worry me.
Answer: Australian households have some of the largest debt-to-income ratios in the world. This often causes stress and leads people to feel as though they are on a debt treadmill.
Getting your debt under control will not only lower your stress levels but also allow you to get ahead and start saving towards other goals you may have.
The following tips can help you manage, and pay down your debts.
1. Work out your total debt and debt repayments
Ta…
Read the full article at: https://thenewdaily.com.au/finance/your-budget/2020/11/15/ask-the-expert-paying-off-debt-and-investing-in-property/