Australians are a collective $1.68 trillion in debt and for many people, the burden is life-altering.
Money guru and financial advisor Paul Clitheroe appeared on A Current Affair to offer his top tips for avoiding debt – and what to do when you find yourself in a hole.
“We Australians really are on a credit binge, it’s not just our home loan,” he said.
“It’s the investment property loan, it could be a car loan, some sort of personal finance, the good old credit card or of course the friendly store card.
“We’re drowning in debt and when these guys start to raise interest rates, which at some point in the economic cycle they will, then you really will find that credit can be an absolute cancer.”
1. Don’t spe…
Read the full article at: http://www.9news.com.au/national/2017/10/12/18/37/money-gurus-top-tips-for-dealing-with-debt