Victorians will now be able to pay their car registration in quarterly or half-yearly instalments from January, two years after the Government flagged introducing the measure to help low-income families struggling with their bills.
This initiative gives all Victorians options (annually, 6-monthly or quarterly payments) regarding what has traditionally been one of the biggest single payments people make throughout the year – one which has been described by Emma King, CEO of the Victorian Council of Social Service, as an “annual wrecking ball through the family budget.”
It’s these type of one-off large payments that people often struggle to fit into their budget, as such this is a frequent cause of great stress to people trying to manage their finances. This initiative will make car registration a much easier feat, with regular outgoings of smaller amounts being less stressful to facilitate as apposed to larger sums.
At Sort My Money, we teach customers how to maximise present and future cash flow, and we know from our modelling that these new payment choices will have a huge positive effect on Victorians’ budgets. If you’re struggling to keep your finances in order or you’re looking for assistance with managing your budget to achieve your financial goals – chat to us today about a personal consultation. Our team are assisting everyday Australian’s in achieving financial stability, working towards their financial goals and changing their money habits.
Sort My Money charges the lowest fees – including no establishment fee or lock-in period – of any personal budgeting company in Australia. Read more about Sort My Money’s services here.