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BATTLER BUDGET - Thursday 17 May 2001
With the State recording the highest level of bankruptcies so far this year, more and more Queenslanders are facing financial ruin than ever before.
by Greg Mowle of Lifeline, discussed with a number of single family clients how they were managing to gain more control of their finances. Some of their tips were:
* Recognise that you have a financial problem
* Commit to staying on a tight budget
* Practise not buying on impulse
* Understand the difference between a ‘need' and a ‘want'
* Learn to live within your means
* Once the weekly pay is gone try to wait until next pay day before spending again
* Reject outright offers from credit card companies for extra credit.
* Resist the credit card trap – pay the debt each month, so no interest accrues
* Look at your budget every single day to track how you are doing
* Make a list to show when bills coming in – and put it on the fridge
Total up all your expenses and if they are greater than your income, then you've got to make some difficult choices.
Why not start with Lifeline's list of top Money Waster Busters.
* Take lunch from home - it'll save $5 a day
* Shop around for the cheapest phone deals
* Don't own a mobile phone
* Kick bad habits like smoking and gambling
* Instead of buying magazines - form a club and swap with friends
* Hold video nights instead of spending big bucks at the movies
Take it one day at a time – and don't give up - you'll get there in the end.
For financial advice on budgetting contact Lifeline at Capalaba 3823 2555
Contacts
Name: LIFELINEPhone: 3823 2555
Address: CAPALABA
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