Financial Advisers directs homeowners to ask for help with the urgent issue with regards to tax raise. Roy Morgan said that most of the homeowners are at risk due to this sudden increase.
Increase In Debt, Homeowners Sinking
In New South Wales, 32% are now at risk due to the rise of mortgages. Financial Advisers are encouraging everyone to ask for help from the National Debt Helpline. With 171,000 Australians sinking into the latest increase, the Debt Helpline can help, and they have options that would lessen the burden of the citizens.
This Month’s raise had put 3.3% of holders at the danger zone. But there are ways that will put them at ease at times like this. Financial Counsellor’s gives a head up to the holders the steps or the things to ponder to help them cope up with the increasing mortgages.
They should think of their spending, they should not buy things they don’t need and sell things that no longer holds value. Second, Find a two to three jobs if they are still able to. Third, talk to the bank where they have debts and ask if they can pay them in all in one. And lastly, Homeowners should consider a simpler living with less debt to pay and plain lifestyle away from the temptation of luxurious life. and while they’re at it, they should save for their future and in cases like this, increase in everything, they will be less affected because they had a life saving and other means to earn more.