Tuesday 27 February 2018

Australian’s Household Debt Ranks #4 In The World. When Will We Listen?



You’d probably think the consumer country, United States would rank above Australia, but they are almost half of our debt per household.

Australians have a debt problem and they’re not listening. High household debt is worrying at its best. It’s like a big semi-trailer screaming down the highway. If something bad happens in front of it, the driver has an extremely difficult time trying to stop, or even manoeuvre.

You’re probably saying it’s ok because our interest rates are low. What happens when they go up a quarter of a percent or half a percent, let alone when they creep up 1%? It’ll hurt.

The cost of ‘necessities’ like power, insurance, transport and health creep up every year. The fastest real household spending growth (2016/17) has been in Communications (phone, internet etc) at a rate of 6.6%, Medicine and Medical Aids at 4.9%, Household Appliances (because we are a Nation of consumers) at 4.9%, and Transport Services at 4.8%. Have your wages crept up at those rates?

Something has to give when household expenses are increasing each year, and household incomes are not. It’s usually the household savings that suffer.

So, you are in a better position than most if you actually have savings when things change. What if you don’t?

Then your debt increases. You borrow against your home, or you chase around for another credit card and start that evil route of spending money you don’t have.

I don’t want to get all technical and confuse you with WPI and GDP numbers as most of you will switch off so I’m keeping it simple.

It’s ok to have debt if it’s manageable within your means, but just be wary that low interest and a fairly good economy does have cycles and can change for the worst.

You need to keep a close eye on your finances, not just in your head, or a bank’s phone APP on your account’s activity this month. No, you really need to sit down and create a budget.

The secret is to have a plan, some guidance, direction, a helping hand. When it comes to saving, or not spending, it’s easy enough to put a plan in place, but whatever tool you use must break it down for you.

To take control of your money you need to understand the flow of it: Money comes in from . . . and Money goes out to . . .

Your budgeting tool needs to show you what your finances currently look like, what simple options are available to budget, and then how you can easily save money from that budget.

Everyone talks about a “Budget Plan”. I personally call it “Your Spending Plan” because that is what we are trying to control here – your spending

By creating a Spending Plan you can learn:
  • ·       What your expenses are to the dollar
  • ·       Know exactly what you have to spend
  • ·       How to use your credit card wisely
  • ·       And be able to take charge of your money and build financial security.

If you understand how your money flows, and you can learn that, you will see exactly what you are spending, what your expenses are, and how small changes can save you big money.

If you’re still reading this, you obviously know that you need something to help you manage your spending. I’m not saying to stop spending. You just need to be able to manage your money better.

Your Wealth Vault has created a course format budget which guides you step-by-step to create Your Spending Plan giving you the knowledge and capability to have optimum control over your money.

Spending, which you’ll still do, will take on a whole new light. You’ll be able to do it without the guilt and remorse you currently face.

The course, and creating and managing Your Spending Plan each month, will set you back the cost of 3 cups of coffee each month, but what you will save on your expenses should far outweigh that cost.

If you have ANY concerns about your finances and your spending, you need to visit Your Spending Plan.


Tuesday 6 February 2018

#1 Way to Stop Overspending and Get Your Budget Under Control


You start every month with really good intentions, or maybe you wait for your new years resolution to roll around to “save more money this year.” Just like the diet, you soon succumb to “oh just this once” and then you get buyers remorse at the end of the month when all of your bills come in.




The signs of being a spending culprit should be fairly self-evident so I won’t go into detail other than to list them:

·       Your budget doesn’t add up – if you even have one. You’re spending more than you make.

·       Your credit cards are always at their limit.

·       You can, or do, only pay the minimum payment. This can get you into so much trouble financially.

·       You splurge on buying stuff, or on entertainment, and neglect your bills.

·       If your income rises, so do your expenses.

·       There’s more in your wardrobe than in your bank account.

·       You can’t make a start to make a change.

You may think you can’t change, but you can as long as you firstly realise there is a problem. It’s kind of like being a gambler, smoker, or alcoholic – you want to quit but it’s too hard to know how, or where to start, let alone stick to it.

The secret is to have a plan, some guidance, direction, a helping hand. When it comes to saving, or not spending, it’s easy enough to put a plan in place, but whatever tool you use must break it down for you.

To take control of your money you need to understand the flow of it: Money comes in from . . . and Money goes out to . . .

Your budgeting tool needs to show you what your finances currently look like, what simple options are available to budget, and then how you can easily save money from that budget.

Everyone talks about a “Budget Plan”. I personally call it “Your Spending Plan” because that is what we are trying to control here – your spending.

By creating a Spending Plan you can learn:

·       what your expenses are to the dollar

·       know exactly what you have to spend

·       how to use your credit card wisely

·       and be able to take charge of your money and build financial security.

If you understand how your money flows, and you can learn that, you will see exactly what you are spending, what your expenses are, and how small changes can save you big money.

If you’re still reading this, you obviously know that you need something to help you manage your spending. I’m not saying to stop spending. You just need to be able to manage your money better.

Your Spending Plan is a step-by-step budgeting tool which gives you the knowledge and capability to have optimum control over your money. 

Spending, which you’ll still do, will take on a whole new light. You’ll be able to do it without the guilt and remorse you currently face.

The course, and creating and managing Your Spending Plan each month, will set you back the cost of 3 cups of coffee each month, but what you will save on your expenses should far outweigh that cost.

If you have ANY concerns about your finances and your spending, you need to visit Your SpendingPlan.

Monday 5 February 2018

Just Because You Spend Money Doesn’t Mean You Have Money To Spend

Does your overspending get the better of you? You know you need to do something about it but there is always a Sale on, and a Bargain at the next store.
You start every month with really good intentions, or maybe you wait for your new years resolution to roll around to “save more money this year.” Just like the diet, you soon succumb to “oh just this once” and then you get buyers remorse at the end of the month when all of your bills come in.
The signs of being a spending culprit should be fairly self-evident so I won’t go into detail other than to list them:

  • Your budget doesn’t add up – if you even have one. You’re spending more than you make.
  • Your credit cards are always at their limit.
  • You can, or do, only pay the minimum payment. This can get you into so much trouble financially.
  • You splurge on buying stuff, or on entertainment, and neglect your bills.
  • If your income rises, so do your expenses.
  • There’s more in your wardrobe than in your bank account.
  • You can’t make a start to make a change.


You may think you can’t change, but you can as long as you firstly realise there is a problem. It’s kind of like being a gambler, smoker, or alcoholic – you want to quit but it’s too hard to know how, or where to start, let alone stick to it.
The secret is to have a plan, some guidance, direction, a helping hand. When it comes to saving, or not spending, it’s easy enough to put a plan in place, but whatever tool you use must break it down for you.
To take control of your money you need to understand the flow of it: Money comes in from . . . and Money goes out to . . .
Your budgeting tool needs to show you what your finances currently look like, what simple options are available to budget, and then how you can easily save money from that budget.
Everyone talks about a “Budget Plan”. I personally call it “Your Spending Plan” because that is what we are trying to control here – your spending.

By creating a Spending Plan you will learn:
  • What your expenses are to the dollar
  • Know exactly what you have to spend
  • How to use your credit card wisely
  • And be able to take charge of your money and build financial security.
If you understand how your money flows, and you can learn that, you will see exactly what you are spending, what your expenses are, and how small changes can save you big money.
If you’re still reading this, you obviously know that you need something to help you manage your spending. I’m not saying to stop spending. You just need to be able to manage your money better.
Your Wealth Vault has created a ‘Your Money Sense’ course which guides you step-by-step to create Your Spending Plan which gives you the knowledge and capability to have optimum control over your money.
Spending, which you’ll still do, will take on a whole new light. You’ll be able to do it without the guilt and remorse you currently face.
The course, and creating and managing Your Spending Plan each month, will set you back the cost of 3 cups of coffee each month, but what you will save on your expenses should far outweigh that cost.
If you have ANY concerns about your finances and your spending, you need to visit Your Spending Plan.