Chris Childs

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How to Get Control of Debt

Have you ever had a big bill come in, like rates or car rego, that has caused you to have a very tight week, or month, financially? I’m sure at one time or another every single one of us has been there, probably more times than we’d like to admit. Simply put, it is caused by a lack of planning. Surprisingly less than 10% of people use a Cash Management System (CMS) to know exactly what they can and can’t afford.

At Think Money we like to use the term ‘Cash Management System’ because it sounds a lot better than that much-hated word ‘Budget’.
Everyone has heard of a budget, and most people think they have used one. Most people think of a ‘budget’ as a list of income and expenses, which at the end of the month is totalled and deducted from our expected income, then what is left is either a surplus or deficit amount – and voila, we have done a budget.Usually what happens next is one of two things. In the case of a deficit – We are inspired to curb our spending for the next week or two but in the big picture, not much really changes. In the case of a surplus – We feel so good about our new cash management habits that we are tempted to reward ourselves with yet another purchase, purely based on looking at our current bank balance.A true budget, or a CMS, takes into account the big picture of our financial situation. Our debt, assets, accounting for upcoming unexpected expenses, tracking habits. It might sound complicated or time-consuming (and without the right tools it can be), however, having a quality CMS will make it so quick and easy you will wish you had one years ago.Call today and make a time to chat with me and see the difference Think Money can make to your life.Looking forward to seeing you soon,Chris Childs.P.S. Our Ultimate Guide to Debt Reduction ebook has changed the lives of 100’s of Think Money clients. Filled with handy advice and simple tips, it will quickly become your own little financial mentor. Take control of your financial future and download it now. New Call-to-action