Budgets…we all know that we need them, yet many of us avoid them like the plague. In fact, most of us will do pretty much anything else but sit down and take the time required to create and manage our own budget.
But when you stop to think about it, organising and managing our finances is an essential part of life. And the paradox is that if we don’t take control and manage our money ourselves, it will be our finances, or lack of them, which dictate to us what we can or can’t do in life. So our money starts to control us! That’s not a great strategy when you are looking at purchasing your own home, refinancing or investing.
So the question has to be asked, “Why do we choose to ignore the important area of budgeting?”
From experience it seems that the answer lies in how we perceive budgets and how they work. Because, let’s face it, spending is seen as fun and sexy, whilst budgets are boring and restrictive. However, there is nothing fun and sexy about not being able to pay our bills, save for our dreams and create the life we aspire to. On the other hand, with a good budget, focus and persistence, we can achieve our financial goals and live a life we love.
So my message to you is to organise your own budget sooner rather than later…you’ll be glad you did.
For some great budgeting tips, check out my previous blog on the subject here. Alternatively, call us and speak to one of our professional mortgage brokers, we’re here to help.
If your debt situation is out of control, a debt consolidation loan is almost certainly the answer. Most people go through a stage where their outgoings exceed their earnings and if this situation is sustained it leads to mounting debts and a need to consolidate those debts. This can often occur through no direct fault of your own. It could be the result of redundancy, divorce, ill health and other genuine reasons. The one thing you must not do is ignore it.
Reduce your monthly repayments with a debt consolidation loan
Seeking professional debt management help is the first step to getting you back on track. The next is consolidating your home loan, credit cards, personal loans and any other debts into one new mortgage or manageable loan. As long as you are not credit impaired this can often be at a lower interest rate than you are currently paying and can reduce your monthly repayments – leaving more money in your pocket each month.
Mortgage Coach has access to many lenders, some of which specialise in debt consolidation loans. Even if you are credit impaired we can help you too. So do not despair!