If your income has been cut due to COVID-19, maintaining a healthy credit score might be the last thing on your mind. But factoring your financial reputation into your crisis money management could be invaluable in the future.
There’s no doubt that COVID-19 has had an immense impact on many Aussies’ personal finances. And today, the latest numbers spoke for themselves.
Westpac has announced it will provide support to customers who’ve been impacted financially as a result of the economic fallout of COVID-19 by offering a three-month interest-free period on personal loans.
With new data from the Australian Bureau of Statistics (ABS) showing a 3% increase in the number of Australians that are currently out of a job in April 2020 compared to March 2020, many Aussies are doing it tough in the current Coronavirus climate.
Does the idea of a repayment freeze give you chills when it comes to thinking about your credit score? This recent announcement might just help.
While the news has been flooded with how the government and banks are helping small businesses and mortgage holders during COVID-19, personal loan lenders across the country are offering similar support to their customers.
Due to the current Coronavirus pandemic, the Australian government has enforced strict lockdown restrictions in attempts to slow down the spread of COVID-19, instructing Australians to self-isolate at home for the next foreseeable future and only leave the house for essential travel.
Over March, a bunch of lenders slashed personal loan rates across secured, unsecured and car loans. And it looks like April is also off to a cracker start.
Up to your ears in debt? Or maybe you’ve just got one lingering debt that’s been following you around like a bad smell? No matter the size of it, at the end of the day, debt is debt and it needs to be paid off otherwise it’ll haunt you for years to come.
According to St. George Bank’s Family Finances survey nearly a quarter (24%) of Australians don’t trust their partner when it comes to managing money and over a quarter (27%) said that it depends on the circumstances.