Are things adding up for you?
Gladstone has experienced lots of ups and downs and there's lots of talk about how families are coping financially. Rents dropped significantly a few years ago and for some families this was a great thing. Unfortunately the rent drop came with increased levels of unemployment or significant drops in wages. It was terrifying to read this week that 'Afterpay' earned $28.4 million in late fees in the past 12 months.
ABC News reported "Our financial counsellors report that we are receiving increasing numbers of calls from people with buy-now-pay-later debts, including Afterpay," said Katherine Temple, the Consumer Action Law Centre's senior policy officer.
"Most people calling us for help who have Afterpay debts are juggling numerous other debts, such as credit cards, payday loans and utility bills."
What that mean for our Gladstone residents? It means there will be people out there looking for financial support. Some will need immediate or emergency financial assistance but others will need something long term. There are several financial support services available in Gladstone. For more information, download the Parenting Programs calendar or contact us on 07 4972 8203.