How to assess and tackle your finances

couple talking about their finances

It's been a challenging few years with a pandemic, the rising costs of living and rising interest rates affecting the income and expenses for many people.

While out of adversity often come opportunity, there may also be short-term challenges to tackle. The Pepper Money team is here to support our customers achieve their real life financial goals both in the short term and long term, and we know that people's situations are unique and can change swiftly.

The financial impacts have varied greatly for Australian households through this time. It can be likened to a storm in the ocean. One person may be experiencing some bumpy waves, for another it may be smooth sailing, while others are weathering a significant financial storm.

Regardless of where in the ocean you find yourself, there are steps you can take to regain control and take care of yourself and your family, now and in the future.

Remember you are not alone and there are many free and accessible resources available to you.

Need help with money now

Need help with money now?

If all of a sudden you find you're in financial hardship or struggling to buy food and pay for essentials, there are a number of assistance options  that may be available to you if you require urgent assistance. In addition you can get in touch with the free National Debt Helpline  to talk to an independent and confidential financial counsellor.
Getting on top of your debts

Getting on top of your debts

Struggling with repayments and debts can be stressful. The good news is there are steps you can take to relieve the financial pressure. To start, work out what you owe, and what you can afford to pay off. Next, you should prioritise those debts, then work down the list over time as you can afford repayments. Speak with your various service providers about your situation. They may have payment assistance plans that can help you.  
Living on a reduced income

Living on a reduced income?

You may suddenly find yourself managing on a reduced income. This can be overwhelming particularly if you’ve never faced something like this before. There are steps you can take today to help tomorrow.

There is government assistance available. You can find out more and understand if you are eligible at the Australian Government website.

You may also want to seek mortgage or rent relief. For renters, get in touch with your landlord or real estate agent. If you think you will have trouble paying your rent, it’s a good idea to put this in writing to keep track of your request. If you have a mortgage, there are a number of ways your lender may be able to help. Get in touch sooner rather than later to understand your options.

Reduce your spending in order to make some quick savings right away by following these tips and using these tools.

Preparing for a change in circumstances

Preparing for a change in circumstances

For people who are expecting financial changes ahead that make it difficult to pay their mortgage or other bills, the best thing to do is get in touch with your lender as early as possible to talk about available options.

Data from the Australian Banking Association shows that almost 440,000 deferred mortgage repayments due to the impacts of COVID-19 and the wider economic situation. So, you are certainly not alone, but there are a few things to think about before applying for a repayment break.

You may have more options than you expect. This could vary from changing or reducing repayments, accessing funds in redraw or offset or accessing equity in your home loan. 

We're here to help

Whatever your situation, there is support out there and things you can do today to look after yourself and your money. 
If you’re a Pepper Money customer experiencing financial difficulty, or just want to know your options should your circumstances change, contact us on 1300 650 931, or visit our Financial Assistance Hub.

Apply for a Pepper Money Home Loan

Want to find out where you stand?

We've got the online tools and calculators to help get your home loan journey underway. Work out how much you may be able to borrow and even quickly find out what indicative interest rate you might be eligible for.

Information provided is factual information only and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser.

All applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply. 

The results of the borrowing power calculator are based on information you have provided and is to be used as a guide only. The output of the calculator is subject to the assumptions provided in the calculator (see 'about this calculator') and are subject to change. It does not constitute a quote, pre-qualification, approval for credit or an offer for credit and you should not enter commitments based on it. The interest rates do not reflect true interest rates and the formula used for the purpose of calculating estimated borrowing power is based on the assumption that interest rates remain constant for the chosen loan term. Your borrowing power amount will be different if a full application is submitted and we complete responsible lending assessment. The results in the calculator do not take into account loan setup or establishment fees nor government, statutory or lenders fees, which may be applicable from time to time. Calculator by Widgetworks.

Pepper Money Personal Loans is a brand of Pepper Money Limited. Credit is provided by Now Finance Group Pty Ltd, Australian Credit Licence Number 425142 as agent for NF Finco 2 Pty Limited ACN 164 213 030. Personal information for Pepper Money Personal Loans is collected, used and disclosed in accordance with Pepper’s Privacy Policy & the credit provider’s Privacy Policy.

Pepper Money Limited ABN 55 094 317 665; AFSL 286655; Australian Credit Licence 286655 (“Pepper”). All rights reserved. Pepper is the servicer of home loans provided by Pepper Finance Corporation Limited ABN 51 094 317 647. Pepper Asset Finance Pty Limited ACN 165 183 317 Australian Credit Licence 458899 is the credit provider for asset finance loans.

Pepper and the Pepper Money logo are registered trademarks of Pepper Group Assets (Australia) Pty Limited and are used under licence.

Get in touch with a Lending Specialist

Tell us about your situation. The more we learn, the better we can help.