Personal debt is a serious problem for some people. And a serious problem sometimes needs an extreme solution.

While these 5 ways to help you reduce your debt levels may not be for everyone, they could go a long way to reducing some people’s debt levels and give them a better lifestyle.

1. A change of attitude and lifestyle

If you are living the high life or trying to keep up with your friends, or just making too many purchases, then you need a change of lifestyle, or at least the motivation to want to change.

2. Avoid fees wherever possible

Over…

With the world getting smaller and more people travelling and living overseas, it is becoming common for people to send money out of the country.

There are two common ways to transfer money overseas:

1. Telegraphic Transfer
2. Draft

Telegraphic Transfers

A Telegraphic Transfer is a way to transfer money easily and quickly to someone overseas.

The money usually arrives in the beneficiary’s bank account within 1-2 business days, and will arrive in their currency – which you select when setting up the transfer. And with 130 currencies available you are…

Have you ever wondered what happens to your money once you transfer it?

I am sure you have used internet, phone or mobile banking to make a transfer to another financial institution. But have you ever wondered what happens to the money you send, and why it takes a day to get to the other person?

Have you ever wondered this? Let us know in the comments below.

On the surface it may seem like it should takes seconds – you transfer the money from your account and hey presto! it should be there in the other person’s account. And this is exactly what does happen when you send money…

This is a guest post by Kerry Lotzof, money expert from financial comparison website Mozo.com.au.

The world of banking is changing, rapidly.

Online research and easy comparisons that help consumers quickly find the best deals are turning the dynamic of cap-in-hand banking on its head and making financial providers work to earn and keep customer loyalty.

A growing number of Australians are taking control back, getting informed and switching banks.

1. Take back control

Many Australians…

Christmas is expensive.

If you are not careful you can end up with a large credit card bill you spend the next year paying off. This is not a good way to enjoy the Festive Season.

One way to overcome this is to save for the Christmas/New Year season so you have enough money to cover your expenses. And it is not too late to start saving for this Christmas!

If you start saving now you could end up with more money than you need. Here are 7 ways to save money before Christmas. And that will allow you to have a more relaxed silly season.

How to get extra money…