Push on to bust debt levels

– Paul Dunlop
FINANCIAL counsellor Kathleen Hosie wants 2006 to be the year people decide to take back control of their finances.
The Pakenham-based adviser is president of the Financial and Consumer Rights Council (FCRC), Victoria’s leading financial counselling body.
Ms Hosie said she had encouraged people to “lock up” their credit cards over the festive season and avoid burdening themselves with debt in the months ahead.
“There’s not much Christmas joy left when people get their credit card statement showing they’ve maxed out the card and face paying maximum interest rates,” she said.
“We’re advising people to play it safe, lock up their credit cards and protect themselves and their families from financial crisis in such uncertain times.”
Ms Hosie encouraged people to start the new year with a budget plan.
By calculating expenses from income after tax, residents could stay on top of debt and living costs.
The financial counsellor said keeping a budget could help people to better manage their income and expenditure.
“Australians have never been more indebted than they are today,” she said.