Could a budget save your marriage? | MyMoney MyStory podcast

They faced constant money stress, $40K in debt, and a marriage on the line, until one phone call changed everything. Discover how Michelle and Phil paid off their debt, saved their marriage, and found peace of mind on the MyBudget, MyMoney MyStory podcast.

Living in financial chaos: escaping the debt spiral and regaining financial control

Australian couple Michelle and Phil, know what it’s like to live with constant money stress. Despite having good incomes, they found themselves stuck in a cycle of juggling bills, paying late fees, and feeling the pressure of mounting debt. In this episode of the MyMoney MyStory Podcast, hosted by MyBudget founder Tammy Barton, they share how MyBudget’s expert money coaches helped them break free from the debt cycle, build an emergency fund, achieve their financial goals, and transform their future finances with a realistic personal budget plan.

Drowning in debt, late fees, and money worries

Before joining MyBudget, Michelle and Phil faced the all-too-common financial challenge of managing full-time work and family responsibilities while juggling everyday expenses and mounting debt.

“We both had good incomes, but because of the way we spent money, and because of the way we budgeted money, it was never enough.”

Phil

Phil admitted he was hesitant to ask for help, he preferred to keep money matters private and believed they could fix things on their own.  But over time, the late fees, the arguments, and the fear of declined transactions and creditor calls chipped away at their financial and emotional well-being. Michelle reached a breaking point. The pressure on their relationship was mounting, and the arguments were starting to affect their family.

What made Michelle and Phil finally join MyBudget?

In their conversation with Tammy, Michelle explained how Phil would try to make a withdrawal, but it would be declined. This would lead to arguments and Michelle gave Phil an ultimatum: They needed professional help.

“You have three choices. You can do this, we can go to MyBudget, or we can get a divorce.”

Michelle

Phil tells Tammy after the first appointment “I was blown away. I thought, How do you do that? How do you forecast so far in advance?

How did MyBudget help Michelle and Phil achieve financial peace of mind?

Building a personalised budget plan

Michelle and Phil shared with Tammy how MyBudget helped them create a realistic, tailored budgeting plan that covered all their living costs, family bills, and financial goals. Every bill, from groceries to school activities to haircuts, was built into their structured budget planning.

Paying off $40,000 of debt

With a tailored money management approach, MyBudget helped Michelle and Phil get out of debt. Michelle remembers trying to negotiate with creditors herself, but the phone calls filled her with fear. “I’d get a call from GE asking for payment and think, ‘I’ve got absolutely no clue… because we don’t have it.’”

Are you struggling with debt? At MyBudget, debt is what we do! Get in touch now for a free 10-minute chat.

Saving for goals and handling unexpected expenses

Thanks to MyBudget, Michelle and Phil also were able to access emergency funds to cover unexpected bills without stress. They told Tammy about the time their son had a car accident and how they were able to free up $800 within minutes to pay the insurance excess without derailing their budget.

“It was a revelation that we could have an emergency and after one phone call, we could have a solution in place. That’s amazing! It hasn’t always been that easy.”

Michelle

Achieving their dream renovations and holidays

With their debts paid off, and a healthy budget in place, Michelle and Phil went on to renovate their home (including their dream kitchen), put in solar panels, a new shed and take dream holidays.

A new relationship with money

Today, Michelle and Phil live free from the constant financial stress that once overshadowed their relationship and everyday life. With greater financial stability, they’ve been able to support their children, help family when needed, and plan for the future, without fear of falling back into debt.

“You keep saying thank you to us,” Phil says. “We need to say thank you to you.” “It’s saved our relationship and money,” adds Michelle.

Your first step toward financial freedom

Michelle and Phil’s story proves that it’s never too late to turn your finances around. Their heartfelt conversation with Tammy Barton is a reminder that with the right support and a personal budget plan designed to fit your life, financial freedom is within reach.

If you’re ready to break free from the debt cycle, achieve your financial goals, and experience true peace of mind, MyBudget is here to help.

Take the first step toward a brighter financial future

Enquire online or call 1300 300 922 to speak to one of our expert money coaches today.