“I don’t have to think about it”: how Seb turned several debts into one fortnightly repayment

A young family and several moving parts

Seb is the Victorian state manager for Nutrition Warehouse and a father of three. His household of five rents, and he describes a period of living from pay to pay without family help to fall back on for housing.

The family was managing a credit card, Afterpay and a personal loan, alongside car problems and furniture costs. The number of separate commitments made Seb anxious and made each pay cycle harder to plan.

Choosing one predictable payment

Seb used WeMoney to compare consolidation options. His priorities were a competitive rate, a manageable minimum repayment and the flexibility to pay more or finish early when the household had extra room.

He recalls the application as straightforward and says it took about 24 hours. The existing balances were brought into one loan with a single fortnightly repayment.

Knowing what to set aside

For Seb, the biggest change is that the debt now runs in the background rather than demanding constant attention.

“I don’t have to think about it,” he says.

He knows what to set aside every fortnight, and the repayment happens without the same scramble between accounts and due dates.

The family still has the normal costs of raising three children, and the balance still needs to be repaid. What has changed is the structure. One predictable commitment is easier for Seb to manage than several separate ones, and that has reduced the anxiety surrounding each pay day.

See what one repayment could look like for you

Use the debt consolidation calculator to explore how different repayment amounts and terms can affect the total cost.

Join WeMoney to bring your accounts together and see your finances in one place.

Disclaimer: Seb’s experience is his own and is not a guarantee of a similar result. The information in this article is general in nature and was prepared for information purposes only. It should not be considered financial advice and does not take into account your objectives, financial situation or needs. Consider whether it is appropriate for your circumstances and seek independent advice before making a financial decision.