The Latest Breaking News from Fiona Guthrie

A proposed crackdown on the buy now, pay later industry could fail to deliver desperately needed consumer protections, advocates fear.

The federal government will classify buy now, pay later options as credit products, as part of sweeping changes to protect both consumers and the industry. Here's what it means in practice.

Jacqueline Goodwin became a widow with two babies at the age of 25. She says a financial counsellor helped her overcome extreme budget stress and she's not alone, with experts expecting a spike in mortgage repossessions amid the rising cost of living.

Almost 40 per cent of Australians with mortgages who have locked in ultra-low fixed interest rates will roll off them as soon as next year, raising fears that more people will default on their loans, creating financial system instability.

Be prepared to switch lenders, cut other spending, potentially fix your loan and, if all else fails, seek help