The best way to take control of your finances is to do a budget. This is a simple tool that helps you understand the money going in and out of your household.

Doing a budget helps you get off the treadmill of living from one pay packet or payment to the next. It enables you to sort out your money priorities and find the right balance between spending and saving.

See our Budget Calculator https://tothillfinance.com.au/calculators

With the Comprehensive Credit Reporting, the budget is now more important than ever.


Comprehensive Credit Reporting

Comprehensive credit reporting and how it’s changing your credit report. From September 2018, the major banks and various credit providers will be putting additional information about the credit products you hold on your credit report. This will give a more complete picture of your credit history.

The new information will include:

  • the type of credit products you have held in the last 2 years
  • your usual repayment amount
  • how often you make your repayments and if you make them by the due date.

If a consumer is more than 14 days late on a repayment on a financial account, this information will now be disclosed and may seriously impact upon an individual’s ability to obtain finance at a competitive rate. Late Repayment Disclosure will have an impact on you credit score, meaning a single late repayment could mean that a prime loan in unattainable.

For more information, contact Yousif Matti from Credit Repair Solicitors on 0433 414 028 or visit their website at http://www.crsolicitors.com.au/credit-enquiries/

Need some Advice about loans?

A mortgage broker can help you find the right loan and secure the finance that’s most suitable for you. It will also ensure you avoid making mistakes.

Any questions you may have regarding loans, contact Annette Tothill on 0420 973 551.