Help to Avoid Debts

Sometimes even people with the best intentions and a good track record of personal budgeting, fall unexpectedly into a debt trap. Income can suddenly change, an investment can go bad or a patch of bad luck can suddenly strike. The financial strategies that worked in the past, don’t always work now or in the future.

It’s not uncommon to need assistance to adapt to new circumstances or to explore a different financial approach. If you find yourself in serious debt, it’s important that you do not delay taking action. The quicker you respond to a debt problem, the faster it will be resolved. And the faster you’ll start enjoying life again.

Crisis prevention starts with personal budgeting.

The old saying “an ounce of prevention is worth a ton of cure” is certainly true when it comes to money and debt management. MyBudget is famous for helping thousands of Australians out of debt, but we’re also very focused on helping people avoid debt in the first place.

There are big and small ways you can avoid debt through personal budgeting. Together, they add up into huge savings. For example:

• Rather than entering into a “buy now, pay later” loan for a new washing machine, why not wash your clothes at a friend’s house while you save up to buy a washer?
• When it comes time to buy appliances, do you really need new ones? Second hand machines are much cheaper and usually very reliable.
• Do you use your credit card to earn free frequent flyer points? What are those points really costing you when you factor in interest and card charges?

Of course, debt avoidance isn’t always that simple, but personal budgeting is always the best method for ensuring that you stay in control of your finances.

Consider the benefits of personal budgeting:

• Personal budgeting is the only way to truly control your money.
• Personal budgeting ensures that you always live within your means.
• Personal budgeting provides a safety net for when life inevitably changes or things go wrong.
• Personal budgeting is the best method to plan for and achieve future goals and needs.

MyBudget’s personal budgeting method doesn’t just reduce debt, it can eliminate it altogether.

It 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. Even if you decide not to proceed with MyBudget, your customised budget plan and our recommendations are yours to keep for free.

MyBudget’s advice is independent and free, which means we explore all of your options. We make a recommendation based on your specific needs. The personal budgeting solutions we recommend, therefore, will vary from one person to another because no two situations are exactly the same.

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.

Putting your finances back on track is easier and quicker when you have MyBudget to do the heavy lifting for you. We make sure that your bills are paid on time and that there’s always enough money to cover your living expenses. In 2011 we managed over 1.5 million payments and $250 million in salaries on our clients' behalf.

MyBudget helped Sean and Lynda take control of their finances through personal budgeting. We can help you, too.

Sean and Lynda admit that before joining MyBudget they were lacking in financial skills. Despite good incomes, their mortgage was getting bigger, their credit card debt was snowballing and their financial situation felt out of control. Twelve months later, Sean and Lynda’s situation had completely turned around.

Don’t delay taking action. Take control of your finances today by booking a free personal budgeting consultation now.

A free consultation with MyBudget is an opportunity to gain deep insights into your financial situation and all of your options. Even if you decide not to become a MyBudget client, the budget plan we prepare for you is yours to keep at no charge.

Change doesn’t have to be difficult. The first step is always the hardest, but in this case it’s as simple as making a phone call. Take the step today to get out of debt and start saving. It’ll be the best decision you’ve ever made.