You want to save money, get rid of the credit card debt and hopefully one day buy a house but you have no idea how to make it happen. You have tried budgeting but weren’t sure you were doing it right and every time you felt like you were starting to save money some unexpected expense would blow your budget out of the water. Oh yeah and then there is the whole ‘will power’ and ‘discipline’ thing, you want to save money, you want to eliminate your debt but it is so hard to resist the temptation to spend. If this is you, then perhaps you should consider taking on a budget coach. What’s the point in spending money on a budget coach, if I am trying to save money? Yes, I know it seems counter intuitive to spend money to save money but let’s be honest, how much money did you save last year? How much debt did you pay off last year…… Hmmm For most people the honest answer is a big fat zero and for others it’s “not as much as I should have”. So if this is you it’s time to invest in your future and get …
How to Budget When You Are Broke
How to Budget When You Are Broke It is such a simple pleasure but every time I get the ice cream out of the freezer I am reminded of the period in our lives when money was so tight the ice cream rarely made it into our shopping trolley. There is nothing fun about being broke, constantly juggling the bills and expenses is a stressful way to live. It is made particularly hard by the guilt you experience when do spend on fun stuff because you know you can’t really afford it! What I want to share with you know is the simple 5 step process I personally use and have used with hundreds of clients to show them how to budget despite starting from a financial position best described as ‘Broke’.
Thanks to Debt, You Too can Experience the Lotto Syndrome
Every week, millions of Australians head to their local newsagents to buy their lottery tickets and scratchies with the hope of that life-transforming moment when they win it big. But what few people realise is that winning the Lotto is not all that it’s cracked up to be. In fact, far from being the life-changing moment you may dream it to be. Winning the Lotto harms more lives than it improves. In addition, easy access to debt is giving us the same “syndrome-like” symptoms.
My Personal Finances are a Mess. I Don’t Even Know Where to Start!
Earlier this week I was meeting with one of my coaching clients. She had done a brilliant job of getting her finances under control and was now wanting to refer a friend, but first wanted to warn me in advance: “She has a good job but her personal finances are a mess, she is living pay cheque to pay cheque, her credit card is maxed, she has student loans and outstanding bills and she just doesn’t know where to start!”
Paying Off Credit Cards: I Can and I Will!
When it comes to paying off credit cards or your lifestyle debt, belief is an important ingredient for success. Without belief, it is very hard to persevere. If you like most people you have struggled with your credit cards for many years it is likely that your confidence and self-belief have taken a hit. As a budget coach I have found that the most powerful way to build belief is to have a written plan outlining the practical steps you need to take to succeed.
Top 10 Tips For Paying Off Debt: 3 Steps to Pay off Debt Faster
Hi guys, Phil McGilvray here from Grandma’s Jars. Thank you for joining us. This is tutorial eight of our ten part tutorial series, ‘Top 10 Tips for Paying off of Debt‘. We are taking fifteen years of experience of helping people pay off debt and take control of their finances and putting them into this ten part series.
Top 10 Tips For Paying Off Debt: Consolidate Debt But Only If You Have A Budget
Video Transcription Hi guys, Phil McGilvray here from Grandma’s Jars. Thank you for joining us. Today we continue on with our series “Our Top Ten Tips For Paying Off Debt”. The topic of today’s tutorial is debt consolidation. This is tutorial 5. Debt Consolidation Debt consolidations is a really contentious issue, something that I do talk to my clients about a lot. It’s really important that if you are considering debt consolidation that you are doing it for the right reasons and that you are prepared for it. Very often we see people consolidate debt who have come to see us six months later and they are in exactly the same situation because they haven’t addressed the habits and behaviours that caused them to be in debt in the first place. Example Just last week I had a new couple come see me. They had a property. The property had gone up in value by about 60 000 dollars – which sounds fantastic – over the last couple of years. But in the same two years they racked up about 55 000 dollars in debt. They were asking me “should we consolidate our debt?” Unfortunately there is no easy answers to that. My …
Top 10 Tips For Paying Off Debt: Identify Bad Habits and Behaviours
Video Transcription Hi guys, Phil McGilvray here from Grandma’s Jars, thanks for joining us today. Today’s tutorial is the second of our ten part series, our ‘Top Ten Tips for Paying Off Debt’. In our previous session we looked at tip number 1, which was ‘no more debt’. So coming to that place where we are committed to not taking on any more debt is super important if we are to move forward financially and get ourselves out of debt. So to start moving in the right direction we have to stop digging that hole. Reviewing The Habits & Behaviours That Cause Debt Today, what we are looking at is the habit and behaviours that have caused you being in debt in the first place. Going through a process to see what actually caused us to be in this situation to start with. So what we got here, is the process that we take all our clients through. So, whenever we take on a new budgeting client that has got debt, we sit down and look at it and say, “OK, what are the habits and behaviours that along the way have caused you to be in debt.” I’ve got …
Top 10 Tips For Paying Off Debt: No More Debt
Video Transcription Hi Guys, Phil McGilvray here from Grandma’s Jars. Thank you so much for joining us today. I am really excited to be starting a new tutorial series: Top 10 tips for paying off debt. Over the years, we have had the joy of working with hundreds and hundreds of couples and individuals helping them take control of their finances and pay off their debt forever. So we are going to be sharing with you over the next ten tutorials, the tips and techniques we’ve successfully used over 15 years to successfully help our clients take control and get out of debt. No More Debt Today we are starting with tutorial one and I know it sounds obvious but tutorial one is “No More Debt”. I know that sounds really obvious, but one thing we have found is that debt has become such a big part of the Australian psyche of the Australian way of managing our finances that we just see it as normal, as the way we got to do things. But the reality is, that it’s not the case. While debt might seem to be the easy way to do things to start with, it always comes back to …
Saving Money versus Paying Off Debt
I recently had the privilege to run a couple of webinars on ‘The Principles of Money Management’ for a group of young parents. At the end of each of these sessions, we had a wonderful period of question and answers that went for longer than the formal presentation itself did. There were a couple of recurring themes in the questions being asked so I thought it would be worthwhile sharing the answers I gave to these questions via a series of blog articles.