SOS guide to killing debt

Marlborough Midweek - - YOUR LOCAL NEWS -

I think I amthe only per­son in my sub­urb who hasn’t been door­knocked by our oc­ca­sion­ally sweary lo­cal MP David Sey­mour.

His web­site says he per­son­ally knocked on 13,000 doors be­fore the last elec­tion.

He’d have met an aw­ful lot of heav­ily-in­debted peo­ple then.

My neigh­bour­hood passed the $1mil­lion av­er­age house price mark way back in 2011, or 2012.

The $1m sub­urb club isn’t so ex­clu­sive these days. Ris­ing house­hold debt has helped usher many Auck­land sub­urbs into the club.

Sey­mour re­cently pointed out that pri­vate house­hold debt has risen to a record 168 per cent of house­hold dis­pos­able in­come.

As a ‘‘small gov­ern­ment’’ man, Sey­mour be­lieves in cut­ting tax rates so house­holds can pay some of that debt off.

For house­holds, like coun­tries, high debt brings risk.

Whether you have con­sumer debt (credit cards, per­sonal loans, car loans, etc) or mort­gage debt,

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