5 Warning Signs You're Falling Into a Debt Trap (Australia 2025)
5 Warning Signs You're Falling Into a Debt Trap (Australia 2025) Debt can creep up on you — slowly at first, then all at once. Here are five red flags Australians should watch out for in 2025. 1. You’re Only Paying the Minimum Paying just the minimum on credit cards? You’ll be stuck for years. This is a huge red flag. 2. You’re Using One Loan to Pay Another If you’re taking out new credit to pay off old debt, you're in dangerous territory. 3. You Don’t Know How Much You Owe If you avoid checking your total debt, it’s time for a financial reality check. 4. You’re Constantly Out of Cash Living paycheck to paycheck and relying on credit? The trap is tightening. 5. You’re Losing Sleep Over Money Stress, anxiety, or fights about money are often the final warning signs. What You Can Do Create a realistic budget and stick to it Contact a financial counsellor for free advice Consolidate debts if it reduces your interest rate Set small milestones to rebui...