MensHealth
  • News
  • Health
  • Fitness
  • Sex
  • Nutrition
  • Style
  • Weight Loss
  • Life
  • Podcasts
  • Subscribe
  • Motoring
  • Video
MensHealth
  • News
  • Health
  • Fitness
  • Sex
  • Nutrition
  • Style
  • Weight Loss
  • Life
  • Podcasts
  • Subscribe
  • Motoring
  • Video
Bjornsson Deadlifted 1,026 pounds On The Elephant Bar To Win 2020 Arnold Classic
Watch 0:10

Bjornsson Deadlifted 1,026 pounds On The Elephant Bar To Win 2020 Arnold Classic

{headline}

{headline}

7 Of The Biggest Financial Fails You Can Make

7 Of The Biggest Financial Fails You Can Make

3 Steps To Help You Get Out Of Debt, And Fast

3 Steps To Help You Get Out Of Debt, And Fast

This Is How Much The Average Single Guy Spends On Dating Each Year

This Is How Much The Average Single Guy Spends On Dating Each Year

5 Things You Can Do To Boost Your Tax Return

5 Things You Can Do To Boost Your Tax Return

{headline}

{headline}

You're 10 Times More Likely To Be Dumped If You're Bad With Money

You're 10 Times More Likely To Be Dumped If You're Bad With Money

Here Are 38 Life Lessons From A 38-Year-Old Who Wishes He Did It Differently

Here Are 38 Life Lessons From A 38-Year-Old Who Wishes He Did It Differently

Boxer Canelo Alvarez Signs The Biggest Contract In Sporting History

Boxer Canelo Alvarez Signs The Biggest Contract In Sporting History

{headline}

{headline}

How To Defuse An Argument With Your Missus, Stat

How To Defuse An Argument With Your Missus, Stat

 Thinking About Going Vegan Or Vego? Read This First

Thinking About Going Vegan Or Vego? Read This First

Jonah Hill Is A Shadow Of His Former Self In New Netflix Trailer

Jonah Hill Is A Shadow Of His Former Self In New Netflix Trailer

The Surprising Way Arnold Schwarzenegger Made His First Million

The Surprising Way Arnold Schwarzenegger Made His First Million

How Often Should You Be Changing Your Razor?

How Often Should You Be Changing Your Razor?

8 Things To Keep In Mind When Asking For A Pay Rise

8 Things To Keep In Mind When Asking For A Pay Rise

8 Common Household Items That Are Dirtier Than A Toilet Seat

8 Common Household Items That Are Dirtier Than A Toilet Seat

  1. Home
  2. Life

Steps To Avoid Getting Into Serious Debt

Be aware of evil lenders and the traps of quick solutions - by Ken Adams
  • 05 Dec 2017
Steps To Avoid Getting Into Serious Debt

Payday lenders are evil. That's the important message from new initiative, Watch Your Nuts, aiming to change the attitude towards Fast Loans (Fast Loan Lenders/‘Payday lenders') and ensure the audience they target and the broader public are informed and can talk about the problem of fast lenders.


The movement highlights the worrying trend of loan advertisers preying on the vulnerable, typified in beer and gambling ads. These campaigns target an audience who can’t afford the lifestyle choices they’re making, hence the desire to secure a loan, quickly.

Research by CALC found that two in five customers who entered into a payday loan were unemployed whilst Digital Finance Analytics estimated that these same borrowers took out an average of 3.64 payday loans in 2015. A 2015 ASIC report into the industry also raised serious concerns about non-compliance. The report found weaknesses in process, documentation and record keeping, including how lenders inquire into a consumer’s objectives and needs before advancing a loan.

WATCH YOUR NUTS

Watch Your Nuts, supported by the Consumer Action Law Centre and the Financial Rights Legal Centre, suggest some handy tips to cash in and avoid getting caught up in serious debt: 

  • Chase up your tight-arse mate/s for all that beer money they owe you
  • Become a competitive eater with a crazy popular YouTube account
  • Sell some of your stuff on eBay or Gumtree. (After all, the average household has $5,400 worth of unwanted stuff lying around! Who knew?)
  • Buy second hand from eBay or Gumtree
  • Take in a boarder, or rent out a room on AirBnB
  • See if your folks can spot you for a bit. Go on, ask nicely
  • Help Beryl around the corner with her gardening, or earn $$$ through AirTasker
  • Borrow whatever you actually want to buy from a mate
  • Shop around for cheaper gas, electricity, insurance, broadband etc. Switching might just save your nuts
  • Request a bill extension from your utility provider
  • Ask your employer for an advance on your wages
  • Actually squirrel away your savings and save up for it
  • There's nothing cute about fast loans. So do 'Anything Else', seriously, anything else, apart from getting a fast loan (aka payday loan, aka 'small' loan) before you find yourself calling the National Debt Helpline on 1800 007 007

Subscribe Now-

Subscribe Now
Subscribe Now

Subscribe Now-

Subscribe Now
Subscribe Now

Recommended to you

Bjornsson Deadlifted 1,026 pounds On The Elephant Bar To Win 2020 Arnold Classic
Watch 0:10

Bjornsson Deadlifted 1,026 pounds On The Elephant Bar To Win 2020 Arnold Classic

{headline}

{headline}

7 Of The Biggest Financial Fails You Can Make

7 Of The Biggest Financial Fails You Can Make

3 Steps To Help You Get Out Of Debt, And Fast

3 Steps To Help You Get Out Of Debt, And Fast

This Is How Much The Average Single Guy Spends On Dating Each Year

This Is How Much The Average Single Guy Spends On Dating Each Year

5 Things You Can Do To Boost Your Tax Return

5 Things You Can Do To Boost Your Tax Return

{headline}

{headline}

You're 10 Times More Likely To Be Dumped If You're Bad With Money

You're 10 Times More Likely To Be Dumped If You're Bad With Money

Here Are 38 Life Lessons From A 38-Year-Old Who Wishes He Did It Differently

Here Are 38 Life Lessons From A 38-Year-Old Who Wishes He Did It Differently

Boxer Canelo Alvarez Signs The Biggest Contract In Sporting History

Boxer Canelo Alvarez Signs The Biggest Contract In Sporting History

{headline}

{headline}

How To Defuse An Argument With Your Missus, Stat

How To Defuse An Argument With Your Missus, Stat

 Thinking About Going Vegan Or Vego? Read This First

Thinking About Going Vegan Or Vego? Read This First

Jonah Hill Is A Shadow Of His Former Self In New Netflix Trailer

Jonah Hill Is A Shadow Of His Former Self In New Netflix Trailer

The Surprising Way Arnold Schwarzenegger Made His First Million

The Surprising Way Arnold Schwarzenegger Made His First Million

How Often Should You Be Changing Your Razor?

How Often Should You Be Changing Your Razor?

8 Things To Keep In Mind When Asking For A Pay Rise

8 Things To Keep In Mind When Asking For A Pay Rise

8 Common Household Items That Are Dirtier Than A Toilet Seat

8 Common Household Items That Are Dirtier Than A Toilet Seat

MensHealth
  • About Us
  • Contact Us
  • Chris Hemsworth Hugo Boss
  • Terms
  • Terms of Use
  • Privacy Statement
  • About Us
  • Contact Us
  • Chris Hemsworth Hugo Boss
  • Terms
  • Terms of Use
  • Privacy Statement

Brands

  • Women's Health

Our Network

  • Paragon Media Pty Ltd
© 2021 Are Media PTY LTD
Get more from Men's Health

Magazine Subscription Offer

Subscribe Now-

Shop This Offer
Subscribe Now