When it comes to managing money, everyone has an opinion or hot tip to share. Just jump online and you will quickly find a bottomless source of chatter and advice about how to reach your financial goal.

While doing your homework online is a great first step, trying to filter through this content can be overwhelming.

CEO of homeloans.com.au, Scott McWilliam, believes Aussies have access to lots of information, but can struggle to navigate through the vast amount of material and separate financial fact from fiction.

"When faced with too much information, we can start to doubt our choices and even our goals. Too often, Australians push their aspirations to the side without knowing what is possible, because they're worried about being told 'no' by a lender," says Scott

Join Scott as he shares why the right information can make it easier to navigate through your financial journey.

Good versus bad debt

One myth that stops people from getting ahead financially is the idea that all debt is bad.

"At the beginning of each year, we typically think about the essential items or big dreams we'd like to achieve. Some of these goals, such as buying a home or investment property, upgrading the family car or starting your own business won't get off the ground without financial support.

"It's important to consider whether your debt is holding you back or working as an asset to help you achieve your goals," says Scott.

According to Scott, when debt is clearly aligned with your overall strategy, it becomes easier to make positive financial decisions.

"Good debt contributes to your future wealth such as purchasing a home, while bad debt will limit your long-term financial objectives," says Scott.

Understanding the difference between good and bad debt will allow you to balance 'in the moment' choices with your longer-term financial plans.

Don't let your past define your future

Scott says that it's rare for people to make it through life without experiencing a financial hiccup or setback, but that past experiences do not have to define your future wealth.

"Missed payments due to the impact of a major life event, such as divorce, are bumps in the road that can be addressed.

"Having impaired credit can inhibit you from reaching your goals, but it's not the end of the world. Whether you're self-employed, a contract worker or don't fit mainstream lending criteria, homeloans.com.au has a range of specialist products that can be tailored to the needs of every borrower. Through disciplined budgeting, lowering the limits on credit cards and paying loans on time, you can get your finances back on track," suggests Scott.

You may also be able to access financial support during this time.

"homeloans.com.au understands everyone has different needs and concerns, and we have a range of products and services to suit each individual," advises Scott.

The most important finance conversation you'll have this year

2021 is likely to be another challenging year for many Aussies. With continued uncertainty for employment and property markets, it is essential to speak to the experts.

"A financial planner can help you to realise your goals and set a plan or roadmap to achieve them. As advice needs to be unique to each individual, an expert will be able to provide you with specific solutions to your situation," says Scott.

"Great advice is priceless. Speaking with an expert could change your financial journey in 2021. homeloans.com.au can also work with your planner to understand your goals and desires," concludes Scott.

If you have any queries or want to chat more about the features of your loan, our Customer Care experts are on hand to help. Please contact Customer Care via email at customercare@homeloans.com.au or phone on 1800 111 001.

The opinions expressed in this article are the opinions of the author(s) and not necessarily those of homeloans.com.au. The above is general commentary only and is not advice tailored to any individual's financial situation. We recommend seeking advice from a finance professional before implementing changes relating to your finances.