You are only to make one lowly payment every month and you actually see your debts disappear in months! This is possible due to these debt consolidation experts who convince your creditors to lower their interest rates and make payments easier for you. In fact, you do not interact with your creditors anymore. These experts act as middle men and you will only receive letters from your creditors showing you way your debts are decreasing in days.

The other most important thing to remember about managing finances is to avoid debt-trap as much as possible. It is always advisable to make a budget at beginning of month. And that's not all. You have to live by it. Don't spend on luxuries all time. That will invariably lead to compromise on necessary items. There is no better rule than saving. That is only thing that will help you plug emergency expenses. Bankruptcy is last of all conceivable methods to start afresh. It is never too late to mend. It's just that you need to give up certain things to achieve happiness and peace in your life.

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A disadvantage of superannuation scheme is that many Australians, particularly those who change employers regularly, are likely to have various small amounts of money in a number of separate superannuation funds.

This, in turn, can lead to a decrease in earnings as each fund will introduce any number of fees for maintaining account. More significantly, a member account in a superannuation fund can possibly be forgotten in time and become unclaimed.

It is estimated that there is currently more than $7.2 billion of unclaimed and lost superannuation. This works out to about one in every three Australians who have money in superannuation and don't know about it.

As such, it is imperative that Australians take a proactive approach to superannuation by making sure they are always aware of which funds their superannuation contributions are being made to and by rolling over these amounts where practical into a consolidated fund each time they change jobs.

By doing so, one can avoid difficulties involved in having to track down any possible lost money belonging to them after years of neglecting to pay attention to superannuation during employment.