Why budget? There has been a significant amount of talk recently about household debt, house prices, the ability to make mortgage repayments, the ever increasing ability of Australian consumers to keep spending. On the 30th of March, http://www.theage.com.au ran an article stating that Australians borrowed at such a fast rate and that another interest rate rise was therefore inevitable. Data from the Reserve Bank of Australia (RBA) showed that total credit provided to the private sector by financial institutions rose by 1.4 per cent in February. Increasing interest rates, higher petrol prices and a fall in housing prices has lead to a doubling of households struggling to meet mortgage payments. This further indicates the importance of completing a budget. If you are View the rest of this article
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