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Reversing Australia's mounting consumer debt

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Our CEO, Paul Thomas, recently spoke to about the problem of mounting consumer debt in Australia

In a Nutshell: Australia has one of the highest levels of consumer debt, in part fed by some of the world’s highest housing prices. Contributing to a high level of personal debt is a cultural tendency to overspend and generate what’s considered to be bad debt. This trend can be traced back to a lack of financial literacy, and the Australian government, schools, and some of the nation’s financial institutions have taken a lead on educating people from a young age about key concepts, like saving money and the proper use of credit. Based in Sydney, Gateway Bank is one such institution that has programs dedicated to member education. We recently spoke with Gateway Bank, CEO, Paul Thomas, about these programs and the problem of mounting consumer debt in Australia.

To read the full interview, click here. was created to help consumer with subpar credit to find the information and resources they need to make successful credit decisions. Featuring blog posts, how-to guides, studies and other helpful content, the site's mission is to raise the overall financial awareness of its visitors. Its experts also provide ratings of various financing sources and other services geared toward the subprime market.


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