Hints to help you break the debt cycle
Case study #3
Mel is a single mum with 2 kids. She recently moved house and needed some furniture. She decided to rent a lounge suite but ended up being upsold to a TV, vacuum, fridge and coffee table. Her repayments were $75 per week, which she thought she could afford. When a credit card bill came in Mel fell behind in her rent and nearly lost her house.
She saw a financial counsellor who showed her she will be paying over $7800 in total for the items far in excess of the original purchase price. And instead could have purchased a fridge with a NILS loan, and obtained the furniture through charities, and TV and vacuum at discount stores saving herself thousands.
Don't get caught in the debt trap.
Contact YFS - Done With Debt:
Phone: (07) 3826 1500
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