Ask Mel Anything - Student Debts & Funding Big Purchases

In the 'Ask Mel Anything' series, Mel answers your questions in the hope you realise you are not alone and that it helps to increase your financial literacy and confidence. In this episode of Ask Mel Anything, Mel answers two timely and topical questions: 'I wanted to see what your thoughts are about paying off HECS debt now that inflation is so high. I feel like it used to be thought of as an easy/good deal debt, but now with inflation rising I am wondering whether I should look into paying it off vs using the same money for investing. I have no other debt.' 'What's the best way to fund a big purchase if it's beyond the value of your savings? Eg an electric car to replace an old vehicle. Extend home loan or other new loan? ·  If you know you need more help with your finances make sure you join the waitlist for the My Financial Adulting Plan. If you're not already, come play over at insta at MelBrowne.Money and make sure you are signed up to Mel's Money Musings and Monday Money Moments (yep, we love us some alliteration) for more tips, tricks and ideas on how to best work with your money. Finally, if you love this episode please make sure you subscribe and leave us a review.