Is Household Debt Consuming You?

Australia has one of the highest levels of household debt in the world. Some debt, like home loans and investments, can build wealth. But lifestyle debt—credit cards, payday loans, buy-now-pay-later—can quickly spiral out of control.

Warning signs that debt is a problem:

• Struggling to pay off your credit card in full

• Rising debt balances and interest bills

• Spending more than 30% of your income on housing

• Using debt to cover basic living costs

  
  

How to take back control:

• Track spending and cut unnecessary purchases

• Consolidate high-interest debt into lower-rate loans

• Use offset accounts on your mortgage

• Regularly review your loans for better deals

• Get expert advice to make a personalised plan

Debt doesn’t have to rule your life—the right strategies can put you back in charge.

CTA: Feeling weighed down by debt? Talk to Steering Wealth and get a strategy to take control.