Here are some simple tools to help you plan for your future:
- Accessing your super early contains information about accessing your super early under certain circumstances.
- The National Debt Helpline provides a wide range of information about ways to manage debt and offers a free financial counselling service.
- Moneysmart, the government resource can help you understand and manage your finances via range of tools including easy budget trackers.
But be especially cautious of so-called ‘payday’ lenders. It pays to be aware that many of these types of loans are offered at interest rates well above those offered by more credible lenders and may include significant additional costs as well as onerous penalties for late or missed payments.
According to the Australian Securities and Investments Commission’s (ASIC) Moneysmart website, a $2,000 payday loan today could cost as much as $3,360 even if you paid it back within a year and did not incur any penalties.