The 14 million credit card users in Australian could be saving money if they made use of balance transfers and low rate credit cards . The average outstanding balance is $3,142 according to the Reserve Bank of Australia.

If the average credit card balance is $3,142 and the average interest rate, the interest could be costing you up to $45.00 a month. This could drop to $32.00 a month if you were using a low rate credit card. (more…)

There is no getting away from the fact that some people are better with money than others who seem to be constantly in debt no matter what they do. Often the cause of this financial trouble is not theirs, they are in fact a victim of circumstances over which they have no control which could be anything from medical costs to redundancy at their place of work.

Debt is like a snowball which takes ages to get going but once it is, it’s hard to stop. However, may of us feel under huge pressure to maintain an image of wealth as it is considered by so many that any type of financial trouble is an indication of failure or that they are just not very capable with money.
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