Borrowing
WELL HEELED
Save yourself from drowning in debt
Melissa Browne The number of Australians wallowing in credit-card debt, mortgage debt, car loans and other forms of debt is a real issue, so perhaps it's time we paid the same level of attention to financial safety as we do to being waterwise.
HOME LOANS
How to find a mortgage bargain
![Chris Reid and his wife Kathryn found a better home loan deal for their Brisbane home.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/n/7/1/i/x/image.related.thumbnail.90x60.gn2z5y.png/1456873942911.jpg)
John Collett Are you the "ideal" mortgage borrower? If, so, lenders want your business.
Millennials, step away from the credit card!
![Beware the credit rating credit card.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/n/3/r/k/u/image.related.thumbnail.90x60.gn3rc5.png/1456442037405.jpg)
Nicole Pedersen-McKinnon Millennials snapping up credit cards in order to get a credit history should be aware that credit ratings are now warts 'n' all.
TIP OF THE WEEK
Help for those who can't repay their debts
![To qualify for the National Hardship Register, you need to meet with a financial counsellor.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/i/n/o/5/q/image.related.thumbnail.90x60.gmykdh.png/1456216175793.jpg)
John Collett The National Hardship Register can help the vulnerable have their debts waived.
INSIGHT
Banks ramp up credit card loyalty scheme push
![Amex cards can reward holders with up to 3 points per dollar spent whereas it is typically 0.5 to 1 point per dollar for ...](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/j/0/h/j/x/image.related.thumbnail.90x60.gmo5kp.png/1455624809167.jpg)
Clancy Yeates Banks are busily spruiking a growing number of promotions that promise you thousands of frequent flyer points for taking out a new credit card.
CREDIT CARDS
Credit cards a 27-year debt sentence
![The government is considering mandating minimum repayments of both principal and interest on credit cards.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/w/b/0/8/image.related.thumbnail.90x60.gmftxv.png/1454167866676.jpg)
Nicole Pedersen-McKinnon The average bad marriage lasts 12 years, but the average bad debt on credit cards lasts 27 years.
UNIVERSITY COSTS
Student debt cheapest debt of all
![MON00-Collett](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/3/4/p/s/h/image.related.thumbnail.90x60.gmfrrp.png/1458802097991.jpg)
John Collett There is not much point in repaying student debt early, especially after the removal of discounts at the end of this year.
TIP OF THE WEEK
Tackle bad debt before good debt
![More Australians are worried about their finances than two years ago.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/m/f/s/t/o/image.related.thumbnail.90x60.gmfrfx.png/1454461932399.jpg)
John Flavell Australians are increasingly worried about their finances, but there is a simple technique that everyone can use to become debt free faster.
INSIGHT
Beware sting in zero per cent credit card deals
![If you've racked up a large credit card debt, the zero per cent balance transfer deals look tempting.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/l/c/1/i/a/image.related.thumbnail.90x60.gmajes.png/1458211483344.jpg)
Clancy Yeates Here are some of the traps in banks' zero interest credit card offers.
MIND OVER MONEY
What The Big Short movie can teach ordinary people
![<p>](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/l/z/o/m/3/image.related.thumbnail.90x60.gm7ufu.png/1453265672427.jpg)
Caitlin Fitzsimmons It's exciting watching the traders short the US mortgage market before the global financial crisis, but it's not something the rest of us can emulate.
INSIGHT
Debit cards more popular than ever but Aussies still hooked on credit
![The abstract nature of credit means consumers feel less emotionally connected to the money and are more prone to the ...](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/1/3/f/e/y/9/image.related.thumbnail.90x60.gm4s1n.png/1453265982287.jpg)
Sally Rose The use of a debit card to limit reliance on credit is being undermined by consumers keeping a credit card for 'emergencies'.
Aussies turning to fast cash this Christmas
![Kim Kardashian is a role model for many.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/l/n/i/u/6/image.related.thumbnail.90x60.glsk6p.png/1450673853208.jpg)
Michelle Hutchison At this time of year many Australians are taking out small loans in the lead-up to Christmas.
BASIC TRAINING
Credit cards that don't break the bank
![If you are getting a credit card for the first time, tread carefully.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/l/4/o/k/6/image.related.thumbnail.90x60.glduf6.png/1451969894262.jpg)
Larissa Ham If you're disciplined, a credit card can be handy. But if you're not – and many millions of us aren't – it can be a fast track to an endless cycle of interest payments.
EXCLUSIVE
Credit card traps for zero-interest customers
![December is a time when consumers are tempted to pile purchases on credit.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/l/8/y/1/5/image.related.thumbnail.90x60.gl8t5y.png/1450058025016.jpg)
John Collett Credit card providers are aggressively pushing balance-transfer deals by offering dramatically longer zero-interest periods, but creaming profits from higher fees.
INTEREST RATES
Time to fix your mortgage
![The best deals on fixed interest rates are before the rate cycle hits the bottom.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/l/7/q/c/8/image.related.thumbnail.90x60.gl7pti.png/1448593248869.jpg)
Nicole Pedersen-McKinnon It's time to fix your mortgage. Well, half of it. For three years only.
INSIGHT
Home buyers embrace benefits of bigger deposits
![Home buyers are paying bigger deposits to get the best mortgage deals.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/x/z/p/7/image.related.thumbnail.90x60.gl2kb6.png/1454057689020.jpg)
Clancy Yeates Banks are becoming more picky about who they offer their lowest interest rates to.
HOME LOANS
Perfect time to refinance your mortgage
![Janine Louden and her husband are returning to their original lender, so they won't have to set up new accounts.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/x/z/6/u/image.related.thumbnail.90x60.gkxd7r.png/1447536112819.jpg)
John Collett The big banks may be increasing their mortgage interest rates, but that's no reason for their mortgage customers to meekly accept higher repayments.
TIP OF THE WEEK
Pressure mounts for parents to go guarantor
![Families are helping adult children into property.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/w/4/7/6/image.related.thumbnail.90x60.gkw3r5.png/1447288748483.jpg)
Dianne Charman Parents need to consider all the options before becoming property guarantors for their children.
CREDIT TRAPS
New credit card traps
Nicole Pedersen-McKinnon We know about unconscionable credit card interest rates and unreasonable surcharges, but this is what you don't know.
Young Aussies out of financial control
![Commerce graduate Daniel Wroby didn't hear the term "financial literacy" until he was 23.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/l/p/s/p/image.related.thumbnail.90x60.gklu6o.png/1446314237530.jpg)
Emily Chantiri Twenty-three-year-old Daniel Wroby had never heard the term "financial literacy" until this year. He is not alone.
ASSET CHECK
The magic of the mortgage offset account
![Mortgage offset accounts provide financial flexibility to homeowners.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/f/q/l/n/image.related.thumbnail.90x60.gkfqoq.png/1445488523621.jpg)
Daryl Dixon It's an excellent development for consumers that mortgage offset accounts are becoming more commonplace.
ASK NOEL
Age pensioners' guide to lending money
![<p>](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/1/3/h/8/x/2/image.related.thumbnail.90x60.gkfle6.png/1445484792488.jpg)
Noel Whittaker Noel Whittaker answers reader questions on loans from age pensioners, saving for funeral costs and possible changes to superannuation.
WELL-HEELED
From armchair activist to conscious consumer
![Are you a conscious consumer or a sleepwalker? Illustration: Andrew Dyson](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/b/s/2/l/image.related.thumbnail.90x60.gkan9v.png/1445337415312.jpg)
Melissa Browne Clicking to support a cause is not enough; you need to consider your investing, spending and borrowing as well.
INSIGHT
Home buyers shun fixed interest rates
![If you're feeling the pinch, it pays to have the certainty of a fixed interest rate.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/4/3/8/l/image.related.thumbnail.90x60.gk763h.png/1451348102038.jpg)
Clancy Yeates When interest rates are this low, it can make sense to fix part of your mortgage.
HIDDEN DISCOUNTS
Big 4 in surprise $400m loan giveaway
![To get the best rate discounts, you need to pick up the phone to the banks and negotiate.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/j/t/9/c/8/image.related.thumbnail.90x60.gk8lsx.png/1447017396505.jpg)
Nicole Pedersen-McKinnon The Big 4 are secretly lopping a full 1 per cent on average off advertised rates for home loans.
Home owners go back to renting
![Growing numbers of Australians are jumping out of home ownership and giving renting another whirl. Illustration: Michael ...](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/d/s/g/0/image.related.thumbnail.90x60.gk91m2.png/1445381488379.jpg)
Christine Long Growing numbers of Australians are leaving home ownership to return to renting.
What the Westpac loan hike could cost you
![Westpac variable loan customers could pay $63 more a month.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/j/u/4/r/k/image.related.thumbnail.90x60.gk8jp8.png/1454609630763.jpg)
Kate Cowling Home owners with a Westpac variable loan have been encouraged to shop around after a surprise rate rise that could add more than $20,000 to a 30-year loan.
INSIGHT
The illusion of higher housing wealth
![Consumer spending is up as house prices make owners feel wealthier.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/4/w/p/3/image.related.thumbnail.90x60.gk39dk.png/1452261044830.jpg)
Clancy Yeates Higher house prices may make us feel richer, but it's not that simple.
GETTING AHEAD
Plan on interest rates staying low for longer
![The dollar is competitive and there are signs of life for non-mining business investment, even if housing is finally slowing.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/i/9/e/p/y/image.related.thumbnail.90x60.gk4qs5.png/1444711341603.jpg)
David Potts Interest rates will hang around where they are for a long time yet even though the market has booked a cut for March next year.
LOAN STARS
Lenders are taking too long to pass on rate cuts
![While the cash rate has dropped, consumers are still paying a high price for credit card and personal debt.](/web/20160326043833im_/http://www.smh.com.au/content/dam/images/g/k/4/3/8/l/image.related.thumbnail.90x60.gk3yhm.png/1451348102038.jpg)
John Collett Despite two official reductions this year, lenders have hardly moved what they charge on credit cards and personal loans.