Are you struggling with credit card debt? You’re not alone. Australia’s national credit card bill is around $45 billion, with over two-thirds of that attracting interest. Over half of the adult population has two or more credit cards and more than two-thirds of cards attract an annual interest rate of around 20 per cent. As a nation, we’re spending more than $7 billion a year on credit card interest alone. It’s little surprise that credit cards have become a leading cause of financial stress and hardship.
When you add the pressure of trying to keep up with loan payments and an endless list of bills, it’s easy to see why debt stress is rife. But the fact that you’re here means you’ve taken the first step in doing something about it. We’ve provided the following information to show you that it is possible to ease your way out of debt and achieve your financial goals.