Take personal responsibility for debts
Your article “Tougher rules needed to tackle debt problems” (The Buzz, August) highlighted some great ideas to help reduce credit card debt. Reforms have been needed for some time and it’s good to see our government looking at ways to help Aussies get out of personal debt and hopefully move forward to a brighter financial future.
I do wonder, though, where personal responsibility comes in. The article suggests governments compel credit card providers to increase the minimum repayments on debt. I can’t help but wonder if perhaps it shouldn’t just be the responsibilities of banks and government to fix all our financial problems. Surely the average Aussie can see that paying more than the minimum amount will get their debts paid off faster.
Good on our leaders for trying to help those who, for a multitude of reasons, have gotten into debt, but isn’t personal responsibility needed, both to get out of debt and to stay out of debt long term? Melissa, Qld