As of 2016, Australia’s total household debt is approximately $2 trillion, over 55% of which is in mortgages, with the average Australian household owing $250,000.
There are many reasons why families may find themselves in serious debt or living beyond their means. Overspending and debt can have far-reaching implications and without professional advice you may be putting your financial security at risk.
While it’s fairly obvious that mismanaged debt can be detrimental to your financial situation, you may be surprised to learn that some types of debt – sometimes known as ‘good debt’ – can actually boost your wealth. Find out more about the difference between ‘good debt’ and ‘bad debt’ and 5 tips to help you better manage your debt.
EKO Financial Pty Ltd ABN 66 116 276 361is a Corporate Authorised Representative of
Magnitude Group Pty Limited ABN 54 086 266 202 AFSL No. 221557
