Financial "stress" is a hollow feeling. Just as you think you are doing OK, a bill arrives you didn't expect. Or Centre link has sent you an unexpected debt?...

I know that feeling. Being manic as a young man with an adult defence service wage and low "on base" rent led to signing the loan papers whenever I wanted another car. In the end I had 5 loans with an old car to show for it.

So, with Xmas out of the way what can 2017 bring to you that's positive so at the end of this year you will feel more successful.

Maintain some realistic expectations of your position by NYE this year. Raise the bar too high and you'll be disappointed.

Remind yourself, with words of appreciation that you are better off than some. Don't fool yourself that you are the worse off.

Revamp your bill system. Carefully consider direct debit. be wary however. One major telco continually took money from our account even though we cancelled it. This is common and places more burden on you and anger. We now pay insurances through dd but telephone, internet water and rego is bpay for that reason

Shop around. Insurance companies vary greatly. If over 50yo consider insurance companies that specialise with retirees. Multi policy discounts?

If you don't ask you don't get. I flash my motor card and health card always.

Communication. There is nothing worse for a landlord than being left in the dark. Be honest and direct.

Need help paying rent? If its OK get a boarder. One friend of mine purchased a $700 caravan and charges $150 a week rent for it. Caravans allow you a roof in desperate times. It prevents using the street for a bed. Its insurance.

Accept that life's ups and downs come and go. Realise that a housing or financial crisis will need long term fixing and the way to that goal is short term hard work with commitment before the light at the end of the tunnel shines. Worry only produces ulcers.

Suicides nationwide last year totalled over 3,000 with 3/4 made up of males. Way over the road toll. Many of those would have been money issues and a thought process of there being no hope. Progress could be just around the corner. Give up smoking or halve your luxuries, baby steps add up to leaps and bounds.

Reward your efforts. My friends gave up smoking and I was shocked they bought a Porsche as reward. Their cigarettes cost more!.

Whatever your "fix", you can make effort.

NYE 2017 can be a better situation.

Never give up and accept life will throw hurdles unexpectedly.

Tony WK

Hi Tony

Another great thread and thankyou Tony! Financial issues are not only a pain but can be a huge trigger of anxiety/depression for anyone.

Interesting to see that the Ombudsman is getting involved with the woeful methods Centerlink use where debt collection is concerned. The complaints are many and the matter is now under investigation.

Just my money saver...Never pay full price for groceries...Mark downs and close to use by date are fine. Specials etc. Australian 'Home Brand' groceries are usually made by the major manufacturers anyway :-)

TonyWK said "Whatever your "fix", you can make the effort"

Nice1 Tony

Paul

Thankyou Paul.

Yes some foods have "best before" dates which means a few days over is OK instead if "use by" which is more definite.

This is a great place for people to post their money saving ideas.

Eg Renting? How about a mobile vegie or herb garden? Our neighbour grows strawberries in roof guttering. You can also buy small colourbond garden tubs at hardware stores.

Tony WK

Great thread Tony!

My son is currently wanting to buy another car as his (my ex car) is just about at its use-by date.

I asked myself over for dinner next week (either that or never see the inside of his home) to discuss financial do's and don't's to plan for his future. Although this subject has come up many times, it does need reiterating to get through.

Saving in a separate account without touching it (as a house deposit) is a good way to prove to the bank he's a good risk for loans. He'd have $5600 saved now (only $20 pr/wk!) had he taken my advice a few yrs ago!

As parents we have a responsibility to teach positive money skills, even more now than ever due to expanding costs of living and especially rents/housing. As a single parent of an only child, this worrys me. My son has an excellent work eithic, but when it comes to money, he's a kid...sigh.

There's also the prospect of planning a family as he's living with this girlfriend and the other side of 25. Young couples are choosing to postpone children due to money costs involved. I want to be a Nan one day...another sigh.

Did my folks have this issue with me? Well no, I had to teach myself, that's why it's so important to me personally.

We never stop being Mum and Dad do we? 2017 will be his yr to grow up! Yay!!

Sara xo

Financial stress and debt can really contribute to poor mental health. Seeing a financial counsellor (I saw one free through a charity) really helped me formulate a plan to get on top of my multiple debts. It was also nice not to be judged which happens a lot when you have loads of personal debt.

Great advice Tony!

Good suggestion- seeking out a financial counselor.

TonyWK

Just a to add, if you do need help with debts, please try a government or charity organisation first.

Some private companies say they can help you budget and become debt free, but in reality they take a portion of your income (that you cannot afford) and reduce your payments to debtors to a tiny amount , which in turn extends your debt. Their process is designed to keep you in the program so they can keep making money. It is not practical in a business sense to help you become debt free. I used to work for one of these companies and I would never recommend them.

Financial counsellors are a great place to look for help. If you are considering bankruptcy speak to the Insolvency and Trustee Service.

The Public Trustee Service of South Australia also assists those vunerable people who are unable to manage money.

Jess

Hi TonyWK and Jess334

Hey Jess334

Do you know if other states have 'The Public Trustee Service' or an equivalent ?

It would be great to know

my kindest

Paul

Yes they all do. It is run as part of the Attorney Generals Department which is federal.

Here is a gateway with all of them.

https://www.publictrusteesaustralia.com

Hi Jess334 (and TonyWK for creating the thread)

Thanks for helping me out with my question....and the link too :-)

www.publictrusteesaustralia.com

my kind thoughts

Paul

Hi everyone,

Jess that is such a helpful link thank you!

And Tony I am amazed this thread didn't get more of a response when you created it.

Finance is important. Look at how many of us struggle to work out how to afford therapy and medications long term. Money can be a barrier to seeking help because often we have conflicting priorities.

Then there is the simple fact that the stress associated with financial trouble is such a relentless burden on us. Relationship strain. Pressure to meet bill deadlines and provide for children. Cutting out luxuries.

I've been living with this pressure for years now. Everyone says the stress of one income while kids are small is one of the worst times in life. I agree.

The thing that irritates me most is how professionals sometimes throw out casual suggestions that would absolutely help.... If you had the money to afford it.

I find it makes me feel like they either aren't listening or just do not understand my reality enough to empathise.

Thanks for this space to vent. It has been a horrible day today and I am tired of it all.

Hi Quercus

I hope tomorrow is a better day.

Some people are lucky enough never to have struggled financially. They are ofyen the ones that say "buy this or that...it's cheap". But cheap still means spending.

Yes, one wage, mortgage, young kids, baby formula etc....a real struggle.

When in the RAAF as a teenager credit was easy to come by. But I over committed. I spent countless evenings in my barracks while friends partied at discoes.

Debts is likely a trigger to much depression as they commit you to several years of misery which is so long it feels like eternity

TonyWK

Thanks Tony,

Most especially for your comment about staying in the barracks while others went out.

It is reassuring to know others value responsibility and duty more than fun at times. It is hard to feel like everyone else is living for today and I am giving up the present for a future that feels like I will never see.

Hi Quercus

You will see a better financial future

Time does change circumstances. Paying off debt can be slow but the debt reduces and assets rise in value, the seesaw tips slowly then more and more.

I did grow to accept that comparing my then over committed financial state to others situations was a trap. Others going out and spending more money didnt actually means they were happier.

Happiness is achieving even if that meant slowly paying off a debt.

Watching a sunset is priceless and costs nothing while my mates would get drunk, spend all their money and complain about hangovers.

Google youtube maharaji prem rawat sunset

TonyWK

Agree 100% with the sunset.

Purchasing or refinancing homes has been made easier and as a result fintech firms are growing. They charge low to no fees and may have the best rates due to no physical stores and low onboarding costs.