Hints to help you break the debt cycle
Case study #1
Fridge
Jamila needed a fridge and decided to rent one for $25 per week. At the end of the 2 year lease Jamila didn’t own the fridge and it was taken back by the company. Jamila saw a financial counsellor who showed her there were hidden fees and interest that had taken the total cost up to $1729 to rent the fridge and that Jamila could have gotten a NILS loan and the fridge could have been paid off at $30 per fortnight through her Centrepay in less than year and she would have owned it outright. The total cost would have only been $689.
Don't get caught in the debt trap.
Contact YFS - Done With Debt:
Phone: (07) 3826 1500
Email: donewithdebt@yfs.org.au
YFS is funded by the Australian Government and the Queensland Government.
YFS acknowledges Aboriginal and Torres Strait Islander people are Australia's First Peoples and the traditional owners and custodians of the land on which we meet and work.
