Recent content by Elekt_rocker_42

Covid money printing started inflation. Rest of world pulled back quick with .5% hikes. RBA was slow with .25% hikes. Gov spent a lot during tightening. It handed stimulus, raised wages and Centrelink often. So inflation took longer to come down. Australia’s inflation was higher than...

I work at a credit union. We review consolidation loans. A key factor is debt to income ratio, especially unsecured debt to income. Our policy: we lend a percentage of your AGI in unsecured debt credit cards, personal loans, lines of credit. The percentage depends on your credit score. Higher...

Invest beyond property. Avoid obsession. Secure a home to live in. Learn about no fee, low cost ETFs.

Hey mate. Starting a business doesn’t bring more income. It brings more liability and turnover. Many start a business for the wrong reasons.

Debt recycling. Yes. If you earn $1, you claim interest as tax deductible. Same idea. I’m looking at NDQ. Its fee is high.

Contact collection companies to discuss payment plans or settlements.

Create a budget. Review the last 3 months of bank and credit card statements to track every expense. Payday loans are costly and need to be addressed. To escape them, consider closing the account they’re drawing from and negotiating a settlement. This makes managing other bills easier. Buying...

: I’ve used the snowball method for the past year and paid off a decent amount of debt. I need to plan how to tackle the remaining cards. Should I stick with the snowball or switch to the avalanche method? Highest interest? I liked being able to roll over the payment for the cards I paid off...