Debt Reduction, Debt Solutions, Debt Help, Debt Relief

Many of the people who approach MyBudget express feelings of guilt and embarrassment that their finances are spinning out of control. If you feel that way, please understand that you’re not alone. Debt and financial stress are at epidemic proportions in Australia. Lenient lending rules and savvy marketing ploys have lured tens of thousands of people into credit deals they don’t need or can’t afford. The need for debt reduction is at an all-time high.

Perhaps your credit card is starting to reach its limit or you find yourself struggling to keep up with your everyday bills and expenses. There’s no need to feel guilty or embarrassed and it’s never too late to get back on track.

MyBudget meets with thousands of people like you every year. There is no financial crisis too big or too small for us to help you handle. No matter what your situation, we can create a debt reduction plan for you that will set you on the path to financial freedom.

The first steps towards debt reduction.

The way to debt reduction starts with a free consultation where we will assess your financial situation in detail. As well as analysing your income and expenses, we closely examine your debt situation. Our advice is free and independent, which means that we explore all of your options. We make a debt reduction recommendation based on your specific needs and your financial goals.

Even if you decide not to proceed with MyBudget, your customised budget plan and our recommendations are yours to keep for free. At the very least, you will probably learn more about your financial position than you have at any other time in your life.

If you do become a MyBudget client, we can communicate with your creditors on your behalf and negotiate realistic payment plans with them—repayments based on what you can afford. Our vast experience in debt negotiation means that we know what sorts of terms are achievable. In many instances, we can negotiate for interest rate and repayment reductions or even arrange for payments to cease for a period of time while you get back on track.

MyBudget will show you how to incorporate the keys of debt reduction into your life.

Once we’ve created a budget plan that you’re happy with, we’ll show you the essential keys to debt reduction which will help you stay on track. These debt reduction strategies are not complex, but they often require small but important changes in behaviour. For example, we’ll talk about the power of using cash instead of your credit card or EFTPOS card. Dealing in cash increases your ability to track and control your spending.

MyBudget will also be there to help you adjust your budget plan as your life changes. For example, our consultants can help you assess the affordability of a personal loan for a new car or whether you can add a Foxtel subscription to your budget.

Our debt reduction strategies include prioritising your commitments so that your money is applied to your debt optimally. We make sure that your bills are paid on time so that you avoid late fees and penalties.

With MyBudget helping them with their finances, many people find that they’re able to afford more than the minimum payment on their credit cards and loans, which means they can reduce their debts more quickly and potentially save thousands in interest charges over time.

Every personal budget plan we create includes a savings plan. This is very important—a debt reduction strategy must not only pay down debts, but also provide a safety net of savings in case of emergencies and inevitable rainy days.

MyBudget can also help to identify bad or destructive money habits. Problems such as gambling, drinking or overspending can be eased when money is no longer readily available. If you find it difficult to control habits which drive you further into debt, it can be helpful to speak with people who understand. Aside from helping you with debt reduction and money management, we can also introduce you to professional organisations that deal with addiction.

MyBudget’s debt reduction strategies helped Kelly and Mark get on top of their finances and start saving. We can help you, too.

Kelly and Mark were feeling stressed and overwhelmed by their debt. There was never enough money to cover all of their bills and repayments. With MyBudget’s help they were able to increase their mortgage payment, pay off their car loan and have savings in the bank after only 12 months.