The soaring cost of real estate, skyrocketing prices of energy, petrol and other household goods, coupled with stagnant wages growth have all conspired to chip away at the average family’s purchasing power. As disposable income dwindles, savings begin to erode: a staggering 1 in 3 families in Australia have no savings at all, and in the event of losing their income would not be able to survive through the month. These are sobering statistics and shine a harsh light on the plight of ordinary families in the modern economy.

Whereas once upon a time the answer to such issues would have been “pull your socks up and work harder”, for many, no matter hard they try, there is little or no hope of extricating themselves from the fiscal hole. With limited opportunities to work their way out of their station, access to credit becomes a crucial lifeline for many. Whether it’s to even out a short-term cash flow crisis, to finance the purchase of essential items or productive capital to help start or grow a business; without reserves to draw on, most of us have few options but to look to a third party for credit.

This inability to access liquid capital when it is needed, or to invest in a brighter future is a crushingly debilitating issue that is leading too many people to hardship and poverty. Locked out of the mainstream finance market, many turn to payday lenders and other predatory options for relief. Unfortunately, we see countless cases in which this path leads only to deeper pain and stress. The lure of quick, easy money proves too tempting for some, who remain oblivious to the dangers until crippling penalties and charges add up to far more than the principle. In many cases, this ends up keeping them chained to debt, sometimes for years, and with a credit rating in tatters.

 

Speckle – A Fair Loan Alternative

This societal dilemma was one of the driving forces behind Speckle. We are committed to ensuring that as many people as possible can be included in the financial process and enjoy greater economic freedom. Put simply; it’s about empowering individuals and families with the opportunity to chart their fiscal path and offer them the chance for a more stable and prosperous future. Speckle provides a safer, fairer alternative to payday loans that evens up the power imbalance between lenders and borrowers that prevails in the space. Most importantly, Speckle can represent a lifeline for those who find themselves in difficult situations that in times gone by, would have left them with few if any options aside from Payday Lenders.

Let’s look at a few of the ways that Speckle customers benefit from our services:

1. Mobility

Most of us need a car to hold down a decent job. Whether you’re on the road visiting clients or merely using it to commute, the inability to purchase, repair or maintain a vehicle can make earning a living impossible.

2. Up-Skilling

Education and training are potentially the most direct route out of economic hardship. The ability to afford training to for new qualifications, or to upgrade existing skills is one of the surest ways to unlock a more stable future.

3. Household Goods

We all want to feel comfortable in our own homes. However, the lack of some of the basic necessities and furniture can be a practical and psychological burden of immense proportions. In some cases, the ability to purchase items such as a fridge, adequate bedding or other household items can even make the difference between a divorced parent being afforded custody of their children, or not.

4. Bills

With the prices of energy and other utilities skyrocketing in recent year, many families struggle to cover bills such as electricity, gas, water and phone. Such a scenario can quickly snowball and leave households scrambling to keep the lights on the heater on in winter, or the aircon humming in the height of summer.

5. Healthcare

Financial problems are the last thing that anyone needs when an unforeseen illness or injury hit. However, the fact is that medical bills and other health-related expenses are the number one cause of personal bankruptcy in Australia.

This is just a small sample of the ways that Speckle is helping ordinary people all over Australia to take control of their financial destiny. Eligible customers can usually be approved within two hours and have up to $2000 in their account within two business days. Use our simple online application form to get started on the journey to fair financial go today.

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