5 money rules to live by
Getting more from your money doesn’t have to be complex. These five simple strategies can help you master money management.
1. Pay cash where you can
For life’s major purchases like a home or car, you’re probably going to need a loan. But for more affordable items – from groceries, to homewares and clothing – it’s better to pay with cash rather than money you don’t have.
These days the average credit card debt is about $1300, which is manageable. However, buy now pay later (BNPL) has skyrocketed, and there are around 5.9 million active accounts across Australia. BNPL may seem ‘interest-free’, but analysis by Curtin University found late payment penalties can be equal to interest charges as high as 33
