Elisas – Debt Free and Overseas

holidays-palms

We were in a very bad financial situation and needed money badly. I decided to get a loan from the bank, which I found really hard to repay, so I got a credit card and used the credit card to make the repayments. Then I end up with more debt.  I found it impossible to repay. Things had gotten out of control.  The interest was building up and I could not pay.

The creditors started calling and asking for money.  They were demanding repayments that were so high I could not afford them and threatened me with further action if I didn’t make the payments. My life was a nightmare. I was so stressed. All my income was being used to make the payments. I was so scared of what would happen if I didn’t make the payments. I was working so hard. I was ignoring my life and family and I hit breaking point. I decided that I was going to become debt free whatever it took.

I was watching TV and I saw an ad for Debt Mediators. At first I was worried because I have never done something like that before, but I knew I couldn’t go on, so I gave them a call.  The lady was very nice and very friendly. I told her my story, she asked for some details, my spending, about how much my repayments were with my creditors. She then tailored a debt agreement based on what I could afford to repay.

As soon as I gave Debt Mediators the creditor’s information they stopped calling me and harassing me. Debt Mediators helped me get my life back. They got my agreement approved, and when I started the repayment I was surprised at how manageable it was.

I was financially comfortable again, and my life was better. I was less stressed and there was no harassment or calls from my creditors. I was so happy with Debt Mediators. It took me 4 years to pay off my debt.  I would pay extra when I could. Sometimes it was difficult to make the payments. The guys in the call centre were helpful and gave me hope. They would work with me on a payment plan to get back on track. It was important mentally to pay something, even if it was only $1, to see my debt go down and know I was still making progress.

The big mistake I made was trying to cover my debts with other debts thinking it would work out somehow, just trying to get to tomorrow and not thinking long-term.

I see others get a credit cards spend up big. They don’t work hard to pay it off and end up paying huge interest. Instead they could be saving their money!

After finishing my agreement life is great. I have learned not to get loans or credit cards. I have been saving my money and budgeting. I have taken my first holiday outside Australia

I never thought I’d be debt free and get my life back, but I did it.

If you are in difficulty or need help with your debts don’t be scared to give Debt Mediators a call and have a chat.
I assure you, they’re a great help.

If you’re experiencing financial hardship, we can help.
It takes less than 10 minutes for a debt management solution to be tailored to your current circumstances.
For a free, no obligation phone consultation with our caring team call 1300 171 351
You’ll be glad you did.

kard_link

Paying Yourself First

Pay-yourself-first

You’ve probably heard the expression “pay yourself first” but just for those who haven’t, paying yourself first means; before you pay any other bill or expense you pay yourself first by saving money for investment.  For many people they never get around to it. You pay your bills, then you have fun and there’s never anything left over to save.

Why pay yourself first?

It doesn’t have to be a lot but put something away, and don’t touch it.  It’ll help you believe you can save and build that confidence.  Every dollar you invest is going to earn more dollars, and if you never start investing, you’re never going to get those dollars and you’re always going to chase your tail.  The main reason to save and invest is because YOU DESERVE IT!

Even when you’re in debt?

Yes, even when you’re in debt.  You are never going to get debt free if you don’t have some cash so you don’t have to use debt.  If the car needs emergency repair and you don’t have the cash, you’re going to get out the credit card again and that’s going to destroy your confidence.  Even if you’re in debt, find $20/week and put it away.  Give it to your Grandma and tell her to hide it if you have to.  In 12 months when you’ve got a $2,000 be proud of yourself, but DON’T SPEND IT.

How to pay yourself

If you don’t see it, you won’t miss it.  Have an automatic deduction set up out of your account into a high interest savings account.  Every so often, say every 3 months put it in a more permanent investment, e.g., a managed fund, an index fund or superannuation.

If you’re experiencing financial hardship, we can help.
It takes less than 10 minutes for a debt management solution to be tailored to your current circumstances.
For a free, no obligation phone consultation with our caring team call 1300 171 351
You’ll be glad you did.

kard_link

Things a Debt Collector Can’t Do

debt-collector

Everyone is worried by Debt Collectors.  You’re worried about what they are going to do.  Your worst fears start to take over. You’re not sure what it is specifically but they are going to ruin your life.  With that in mind here is a list of things Debt Collectors cannot do!

  • They can’t show up at your house or your place of work if you refuse.
  • They can’t chase your spouse or family members for the debt or give them bad credit unless they are parties to the debt.
  • They can’t talk to anyone else but you about the debt unless they are parties to the debt (They can try and locate you, but they can’t disclose details about your private affairs).
  • They can’t bankrupt you right away.
  • They can’t take your households items unless they are security for the debt.
  • They can’t call you after 9pm or before 7.30am.
  • They can’t put you in jail.. it’s not illegal to be in debt.

If you’re in debt, it can be stressful but, and I tell people this every day, it’s not cancer.  The worst that’s going to happen is bankruptcy.  Thankfully we live in Australia and for the majority of people all that that means is; the debt goes away and you can’t travel overseas for 3 years.  Granted, it’s a bit more complicated (call us we’ll can walk you through it).  You can get so caught up in debt that you can’t see the big picture.  You CAN FIX IT, you will get past this and life will be grand again.

If you’re experiencing financial hardship, we can help.
It takes less than 10 minutes for a debt management solution to be tailored to your current circumstances.
For a free, no obligation phone consultation with our caring team call 1300 171 351
You’ll be glad you did.

kard_link

Why Track Your Spending

spending-saving

Tracking your spending is the one habit that will have the biggest impact on turning your finances around, paying off your debt and building wealth.  The best thing is it only takes 5 minutes a day.

If you don’t track your money, it is impossible to know where it’s going.  If you don’t know where your money is going, it’s impossible to save intelligently.  There’s no point buying home brand if you’re spending $200/week on take-away food/entertainment.

Where money tracking really puts money in your back pocket is identifying little expenses here and there that add up to a lot over time.  Those two $3.50 coffees a day, that’s $2,555 a year.  Buying lunch at work for $8/day, that’s $1,920/year. That six pack of craft beer here and there (once a week at $22), is actually costing $1,144 a year.  Between all of those little expenses that’s $5,619 a year.

It can also do the reverse.  Power bills tend to get a lot of attention because they’re large and don’t come that often.  A $500/quarter power bill is only $5.49/day.  People put a huge amount of effort and expense into reducing their power (LED Lights, solar panels) when taking your lunch to work rather than buying it could have a bigger effect on your finances.

How to do it

There are a lot of complicated ways to go about it.  For me the easiest way is to just do sit down EVERYDAY for 5 mins and record everything I spent from my internet banking.  I don’t spend cash.  I pay for everything with a debit card.  Just record it under categories that make sense to you and your family.  Don’t overthink it.  The important thing is to just do it.

If you’re experiencing financial hardship, we can help.
It takes less than 10 minutes for a debt management solution to be tailored to your current circumstances.
For a free, no obligation phone consultation with our caring team call 1300 171 351
You’ll be glad you did.

kard_link

The Best Side Gigs

Marco Rubio Speech On Innovation At Uber's DC Offices

A side gig or a second job is great way to earn to extra money which you can use to pay down debt, get debt free and build wealth.  It’s also a great opportunity to build skills and develop your resume. Always wanted to Chef? Get a part time job in a kitchen.  It’s also an opportunity to have fun and try something different.  If you spend all day in an office doing some lawn mowing might be a welcome change.

There are a couple of things to consider before when you’re looking for a side gig.  What’s your primary employer’s policy on second jobs?  Some employers have a policy that prevents their employees from taking on a second job.  When do you have time to work? Most people have a 9-5 job so our list of the best side gigs assumes it isn’t going to take place during these hours.

As an added bonus, while you’re earning extra income you’ll also have less time to spend the money you earn so it’s a double prong approach.  But beware you could end up costing yourself money if you eat out instead of cooking because you’re short on time.  We’ve also restricted ourselves to jobs you don’t need a qualification for.

Top 5 Second Gigs

  1. Uber Driver – Got a car? While driving for Uber full time is not a profitable gig, driving on a Friday, Saturday night and on special occasions like New Year’s Eve and when there are big sporting events on can be pretty good.
  2. Bars/Coffee Shops – Late Nights and Weekends can be difficult to staff and with penalty rates at the moment, weekend shifts, especially Sundays can be quite lucrative.
  3. Tutoring- Could you tutor High School Maths or English? – Teachers can earn $50/hr doing in-home tutoring. If you’re not a teacher but you have awesome skills, e.g., you’re an accountant or an engineer, or journalist.  You could still make great money tutoring.
  4. Cleaning – Most commercial cleaning work is after-hours and commercial premises are generally cleaner than your house.
  5. Pizza Delivery Driver – If you’ve got a car, Dominoes will pay you $18.09/Hr and $2.27/pizza. Friday and Saturday night are “gold mines”.

If you’re experiencing financial hardship, we can help.
It takes less than 10 minutes for a debt management solution to be tailored to your current circumstances.
For a free, no obligation phone consultation with our caring team call 1300 171 351
You’ll be glad you did.

kard_link