Is there anything scarier than a large debt?

You can try to put it “out of sight, out of mind” by paying the minimum, but all that is doing is making it grow with debt monster vitamins known as interest.

Like when you were younger, and there was a “monster” under the bed, we’re here to come and shed some light on what you think is scary but is very manageable, or a pile of washing like what was under my bed.

a scared kid in bed with glowing monster's eyes under the bed.

Nevertheless, a debt monster might be something that seems insurmountable, but if you break it down into its pieces and put yourself on a payment schedule, it can be cleaned up in no time.

For this example, let’s say the family car had a major meltdown, as cars tend to do. It’s not to the point that it needs to be replaced, but it needs about $5,000 worth of work. Another $5,000 away from being debt-free, but it’s not the end of the financial freedom dream.

While $5,000 is a lot at one time, if we break it down over a year, it’s roughly $13.70 a day. That takes a giant scary debt monster down to a cute little debt dust bunny quick. The ammo you are looking for to take down that debt beast is less than most would pay for a latte and a muffin in the morning.

Two simple options to reduce that debt quickly are finding $15-$20 per day out of your everyday spending to divert to that debt. There are countless blogs and articles around daily budgeting tweaks, and I’m sure that if you’re anything like me, you’ve already thought of some daily indulgences that you could do without to cover this. That money can be compounded into a monthly payment that would be above and beyond what you would have typically paid and assist in the slaying of that debt beast sooner.

a napkin on the kitchen table that reads dream, believe, hustle, achieve

The other option is to get what the kids call (and you can tell I’m not a kid because I used “what the kids call”) a “side hustle”—doing some form of paid online freelancing work that could easily net you $20 a day for no expenditure or prior experience. I will go into side hustle opportunities in a future blog, but is a great place to start.

Once you’ve looked at your debt monster from these angles and worked out a simple-to-execute plan to tackle it, you’ll be back on your journey to Less Debt More Life™ before you know it.

If we had the power to tell schools to teach one thing to today’s youth, it would be to budget.

School chalkboard with the words "financial literacy" written on the board.

Financial literacy is one of the most critical subjects in our lives, and yet, there isn’t that much emphasis on it in school.

If you are one of the millions who might think that you don’t know where to start when it comes to budgeting, you are far from alone.

While you can pick up the phone, (07) 3859 6599, and call the experts or use our handy contact form here, there is a lot of information on the internet that can get you started. The problem is cutting through the noise and finding the “good stuff” that will start you on your debt-free journey.

The federal government provides a fantastic resource for budgeting information. is a rich resource that can help you get on top of your finances.

In one of their informative articles on budgeting, they mention eight key areas when setting up your home budget to think about.

They are:

  1. Set your money goals
  2. See where your money goes
  3. Set up a budget
  4. Track your income
  5. Track your expenses
  6. See where you can save
  7. Set a spending limit
  8. Review your budget regularly.

While this advice might sound obvious, these steps are regularly looked over and are the building blocks to achieving that financial freedom you want. They are essential if you are looking forward to those beautiful retirement years.

Older couple sitting on the beach enjoying the sunset

The only way to ensure that there is money for your retirement is to eliminate the debt in your life and maximize how your money is working for you. If you would like some advice on how you can achieve #LessDebtMoreLife, please feel free to contact us here to set up a free consultation.

It’s never too late to start, and there is so much to gain!

Less Debt More Life™

You work hard for your money – imagine your peace of mind knowing your money is working hard for you. Our Mortgage Action Plan delivers guaranteed results and allows you to start living the life you deserve.


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