Dealing with Debt

Having debt is a reality for most Australian households. Borrowing money can be a good way to get ahead, whether it’s for a house, an investment, or an education. But it’s all too easy to fall into traps and bad habits when it comes to credit, which is why our debt topic will help you to understand how to use credit products wisely and keep the debts under control.

With Money101’s debt tutorial for beginners, you’ll learn how to get debt under control, explore good debt vs bad debt examples, and absorb some invaluable tips for reducing debt in the future.

Carefully curated tutorials for dealing with debt in Australia

Each of the Money101 modules listed below takes about 10 to 15 minutes to complete. Our team of educators, designers and technology experts work together to ensure the content is engaging, accessible and fun!

Borrowing

Borrowing can be defined as receiving money from another party with the agreement that the money will be repaid. When you borrow money, you will usually pay interest on top of the borrowed amount – this module outlines the basics of borrowing and some things to look out for.

Credit cards

Credit cards are a way of buying now and paying later, and we are often encouraged to take on and use a credit card. But for some people, the plastic can turn out to be not so fantastic and can cause a lot of grief.

This module will take you through the basics of managing your credit card wisely, good and bad credit card habits, the possible dangers of taking on more credit, different types of credit cards, and using a debit card as an alternative to a credit card.

Dealing with debt issues

Understanding the mistakes you might make with your finances and your ability to act quickly to correct them is an important part of being able to manage your money. This module will give you the information you need to help you deal with your money problems. It explores some of the major causes of financial issues (such as loss of a job, a health or medical crisis, and divorce), the consequences of living and spending beyond your means, and where to find help with your debt issues.

Debt basics

Debt can be an effective way to increase your net wealth if used for the right purposes and in the right way. There are differences between ‘good’ debt and ‘bad’ debt, and this module will help you to identify the right way of taking on debt.

Financing your car

Financing a car can be a big decision. Aussies love new cars and around 20% of cars bought in Australia are purchased with some form of loan. This module will guide you through the things to consider when looking at your finance options, including the different ways you can borrow for a car, the extra costs involved, the difference between fixed and variable loans, and five important tips on buying a car.

HELP Loans

HELP (Higher Education Loan Program) is a loan and discount scheme available to eligible students enrolled in certain tertiary study places. However, the process of paying back HELP loans can be a little confusing.

This module will take you through the basics of HELP loans, such as how to calculate compulsory repayments and the processes in the case of a deceased estate or bankruptcy.

Your credit history

Your credit history is important. Paying bills late, getting utilities cut off, having assets repossessed, exceeding credit limits and defaulting on loans can all affect your ability to borrow money in the future. This module offers information to help you keep a good credit rating – it covers what can appear on your credit history and for how long, how you can access your credit history, who else can access your credit file information, what a payment default is, and more.

Take advantage of Money101’s debt tutorial modules in Australia

At Money101, we’re passionate about equipping Australians with the knowledge and confidence to make smart financial decisions in their teens, twenties, and throughout their lives into retirement. With almost two decades’ experience crafting customised content for banks, super funds, corporates, financial advisers and countless other organisations, Money101 is the perfect companion to help your customers, members or staff achieve financial wellbeing in Australia.

Learn about our other financial literacy training courses, or browse our for a detailed breakdown of the categories we cover. You can also learn more about how our financial education modules work, and how they’re delivered in a way that is convenient, reliable and affordable.

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