Beat debt by borrowing within your means



Aug 13, 2010( 1 min read )

article header

Like a rising current Aussie debt is skyrocketing with no relief in sight. Whether your credit weakness is owning a brand new home, having a wardrobe full of designer labels or a garage full of vintage cars, borrowing outside of your means is never advisable.

Debt can accumulate quite quickly over time and the truth is if you don’t manage your debt it will spiral out of control. The current debt levels for Australian households is in the hundreds of billions and is increasing every year, according to data from the Australian Prudential Regulation Authority (APRA).

The amount of debt that Australian households owe consists of money borrowed for mortgages, personal loans and credit cards. However a large proportion of this overall debt is from money we have borrowed for our home loans.

If you would like to get your debt levels down and pay off your home loan sooner, it may be a good idea to do a health check on your mortgage and compare home loans online to see if there are other loans available that offer a lower interest rate than what you are currently paying.


^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Compare your product with the big 4 banks, or add more products to compare
As seen on