Debt

Covid is putting a strain on people’s finances as well as their mental health.
During my 30 years as a Pastor I have chosen not to draw a salary from the church but have supported my family by running a financial planning business. Here are some strategies I have proven work in helping people get on top of debt.

1. If you are sinking, plug the leaks. You need to know accurately where your money is going. A two cup a day of coffee from the cafe is $7 a day. That is $1750 a year. Drink instant if you need to. Do you “need” cable tv?

2. Pay the smallest debt first. It will encourage you to tackle the big ones.

3. Talk to the bank. The biggest mistake people make when they are in debt is to ignore the bank. If you ignore them they will quickly go down the legal path. Banks are realistic. 70% of something is better than 100% of nothing. Approach them and ask for some debt forgiveness, reduced interest rate or repayment plan that you can live with. You’ll be amazed at how generous they can be, but you have to ask. They will never volunteer this.

4. Increase your income. Time poor people will pay others to walk their dogs, do their ironing etc etc.

5. Get overtime, second job etc. Remember you don’t get paid for the hour, you get paid for the value you bring to the hour. Be valuable.

I hope this encourages and helps you.

#PTSD

So its been a while since I've posted and this ap is the one I turn too when I am low..I've seen things like money isnt everything..it will all be ok..but heres my current reality..we were already walking a fine line between being able to afford things and being so poor we literally can not afford anything. .our dog (pic above) is ill, he urgently needs a double tplo surgery on both his back legs, we are approved for finance but we will barely scrape to repay it, we have 2 children in secondary school who in September will require full school uniform which will cost approximately £700..both of our cars need work to stay legal, we've got other bills that need paying before we even think about food and utilities, and I cant get extra hours at work because there isnt any available.
So yea money might not be everything to some but when I sit and do the math and work out the enormity of what we're facing..I'd honestly just like to throw in the towel, but I can't, I can't not go ahead with the dogs surgery and I cant not get the kids uniform and I cant not make sure our cars are legal..everything just seems to go to hell at a time when I can't do it alone (hubby is overseas)

Hi everyone!

For anyone who's interested, I've started a podcast 😁. Its primary focus is trying to understand how money works and how the "system" is built to keep us in debt and not prosper finacially.

However the underlying message is about my journey understanding myself and where I fit in with my mental issues but how I can still accomplish my goals.

I feel we need to talk about money and the lack of understanding more because money troubles often lead to mental health issues.

I've only done 3 episodes, so its not a fantastically produced podcast yet. but bare with me I'm learning!

Its available on all podcast platforms, just search for Mental health, Money and Me podcast and I should come up.

Let me know what you think if you have a listen! 😁

open.spotify.com/episode/691uPmSMvrJHYHZtM7Vkag - This link is to spotify. Enjoy #Anxiety #ADHD #Podcast #MentalHealth #blogpost #money #Debt #TheMighty