crediblefinance
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Debt and your family
How can debt affect your family?
Research indicates debt is on the increase and the average Australian household is stretching their financial resources to the limit. This means that unexpected events such as illness, unemployment or even a change in interest rates can add considerably to the financial pressures on a family. Sometimes this pressure becomes too much.
It is important to act now - review your debt position and ensure you and your family are protected if the unexpected occurs. It is also important to understand how debt can affect your stress levels, health and family relationships.
Sometimes debt or the need to tighten the belt can be a source of extra tension in the household. It may be possible to reduce these risks by ensuring each adult in the household shares the goals, family budget and the need to stick to it.
Protect your family financially
One of the most important ways of protecting your family is to make sure the bills can be paid if the unexpected happens eg you lose your job, become ill or die. Some examples of how you can protect your family are listed below.
• Income protection insurance
• Crisis cover
• Having an estate plan in place.
Protect your family emotionally
If you or your family is being affected emotionally by debt, then you may find it helpful to talk to a counsellor or an organisation that specialises in helping families in debt.
Want some help
If you want some help or just want to go over some options. Check us out on our web site HYTORC MAIN WEBPAGE or send us an email at [email protected]
Contact us on 07 5432 3655
What you need to know
Any advice in this page is general in nature and is provided by AMP Life Limited ABN 84 079 300 379 (AMP Life). The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on this advice, you should consider the appropriateness of this advice having regard to those matters and consider the Product Disclosure Statement before making a decision about the product. AMP Life is part of the AMP Group and can be contacted on 131 267 or amp.com.au/enquiries. If you decide to purchase or vary a financial product, AMP Life and/or other companies within the AMP Group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium you pay or the value of your investments. You can ask us for more details.
How can debt affect your family?
Research indicates debt is on the increase and the average Australian household is stretching their financial resources to the limit. This means that unexpected events such as illness, unemployment or even a change in interest rates can add considerably to the financial pressures on a family. Sometimes this pressure becomes too much.
It is important to act now - review your debt position and ensure you and your family are protected if the unexpected occurs. It is also important to understand how debt can affect your stress levels, health and family relationships.
Sometimes debt or the need to tighten the belt can be a source of extra tension in the household. It may be possible to reduce these risks by ensuring each adult in the household shares the goals, family budget and the need to stick to it.
Protect your family financially
One of the most important ways of protecting your family is to make sure the bills can be paid if the unexpected happens eg you lose your job, become ill or die. Some examples of how you can protect your family are listed below.
• Income protection insurance
• Crisis cover
• Having an estate plan in place.
Protect your family emotionally
If you or your family is being affected emotionally by debt, then you may find it helpful to talk to a counsellor or an organisation that specialises in helping families in debt.
Want some help
If you want some help or just want to go over some options. Check us out on our web site HYTORC MAIN WEBPAGE or send us an email at [email protected]
Contact us on 07 5432 3655
What you need to know
Any advice in this page is general in nature and is provided by AMP Life Limited ABN 84 079 300 379 (AMP Life). The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on this advice, you should consider the appropriateness of this advice having regard to those matters and consider the Product Disclosure Statement before making a decision about the product. AMP Life is part of the AMP Group and can be contacted on 131 267 or amp.com.au/enquiries. If you decide to purchase or vary a financial product, AMP Life and/or other companies within the AMP Group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium you pay or the value of your investments. You can ask us for more details.
