The debt circuit-breaker
- Harmoney
- Jul 29
- 2 min read
The Debt Circuit‑Breaker
“It just got to the point where we thought – what are we doing?We both work five days a week, we work hard, but we’re not really living at all.”
Bridgette wasn’t sure what the solution was. She and her partner earned good salaries, and even had some extra income from other sources. But the money seemed to vanish as quickly as it came in. Something had to change.
Breaking the Cycle
Over the years, debt had started to build up. Growing up, financial literacy wasn’t a strong focus in Bridgette’s household, so she admits she didn’t really know how to manage money well. As an adult, her finances gradually spiralled:
“You end up with this credit card and that credit card – and you think you’ll pay them off, but then you end up using them again. You don’t realise how easily it all adds up.”
She was juggling multiple repayments across credit cards and personal loans. The balances weren’t huge, but the number of different accounts—and their varying interest rates—made it feel impossible to get ahead.
Bridgette realised that while her debt wasn’t extreme, the way it was structured was holding her back.
One Loan, One Payment
That’s when she decided to consolidate her debts.
With the help of a Harmoney personal loan, she was able to repay a number of high-interest credit cards, significantly reducing the total interest she was paying. Even a personal loan with a similar rate was included, as having fewer loans to manage made things simpler.
“I just wanted to know I was going to be able to get out of it. And I am now. The biggest difference for me is just knowing exactly when it’s going to be paid off.”
Less Stress, More Control
Bridgette’s new five-year loan came with a single monthly repayment—more than $900 less than what she had been paying across all her previous debts. That gave her breathing room: room to enjoy her income, put money aside for her family, or even pay off her new loan faster.
For Bridgette, the biggest benefit wasn’t just about the savings. It was about certainty. Instead of managing five or six repayments, she now had just one. And unlike a credit card, she wasn’t constantly chipping away at a balance that never seemed to disappear.
“It’s just nice to know there’s an end date. I can see the finish line.”
It’s Not a Magic Wand – But It Can Help
Debt consolidation won’t erase your debt. But it can offer clarity, simplify your finances, and help you focus on paying off what you owe—on your terms.
At Harmoney, we work with thousands of Australians and New Zealanders looking to take control of their finances with personal loans up to $100,000. Our 100% online process means you can get a personalised quote in minutes, without affecting your credit score.
If you’re feeling stuck in a cycle of multiple repayments, high interest, and financial stress—like Bridgette was—a debt consolidation loan could be your circuit-breaker.
Ready to take control?
Get a no-obligation personalised quote today.
