YFS is launching a new campaign to help people understand the true costs of consumer leases.
Called Done with Debt, the campaign aims to prevent Logan residents getting into debt through rental of appliances, computers, phones or furniture.
Billboards, bus shelter ads and shopping centres ads across Logan now display the message “easy lenders can make life tough”, echoing the words of local people who have taken out rental contracts.
YFS CEO, Cath Bartolo said people often think consumer leases are cheap and sign these contracts focusing on the small weekly amount without adding up the total cost of the payments.
“Dodgy leases are one of the biggest issues for our clients these days. People want to get out of the debt but it is almost impossible,” Ms Bartolo said.
“The Done with Debt campaign helps people find alternatives to renting appliances and furniture.”
“Renting is often a really expensive way to obtain products,” she said.
“Leases usually go for three or five years and it’s important for people to understand that the fortnightly repayments can look quite small, but it can add up to a large amount of money over the years,” she added.
As part of the Done with Debt campaign a group of educators will be delivering a community engagement plan which includes a range of events, playgroups and visits to different shopping centres in the local area.
YFS has also created a new website to help people break the cycle of debt by finding other ways to get the things they need.
“Less debt means more freedom and there are a number of things that people can do to avoid financial distress,” Ms Bartolo said.
“YFS works with people to help them understand their financial situation and give them all the information they need to make decisions that are right for them,” she said.