I am always on the lookout for good resource to help people with their finances and businesses in general and just lately I have found myself repeatedly going to a government website called Money Smart. (https://www.moneysmart.gov.au/)
The website is not actually business focused it is more for consumers, but it has so much great information that I feel it could benefit everyone.
I hope that I am not telling you to suck eggs and that you already know about this site, but it’s really good. There are tonnes of information about borrowing money and managing finances, there are also some excellent calculators for budgeting, retirement planning and of course managing debt.
It is geared up for all ages and the planners are excellent
It is geared up for all ages, and the budgeting planner is awesome, I also did the retirement plan to see what was in it. It’s very good and it made me think about a lot of things. It’s probably its worth doing at any age.There is plenty of fantastic information on obtaining credit and borrowing money and if you haven’t obtained a loan before there is information about the National Credit Act and plenty of links to more info.
There is also information about what to do if you are having trouble with paying your debts and how to handle debt collectors.
As you go through the website and it explains the different aspects of managing your money it gives excellent case studies that are easy to read and understand.
I believe this site is a must read for young people, especially those wanting to borrow money to buy a car or obtain a credit card.
The budgeting should be taught in school, in fact, I think the whole website should be part of the curriculum.
A number of young people we see in our business who have car loans and credit card debt they cannot afford is unbelievable, some simple training on budgeting could have saved them a lot of pain.