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Trying to navigate your way through being in debt and how to lead a more financially healthy life can be confusing, and often isolating. Money and debt is still considered quite a taboo topic in our society. We have a backlog of blog posts written to help you navigate financial decisions, from changing banks to changes in legislation surrounding bankruptcy. Additionally, here are three more resources you can turn to for help with debt, money saving tips, and answers to all your budgeting questions!

the barefoot investor financial resource

1. The Barefoot Investor

The Barefoot Investor, by Scott Pape, is said to be the only money guide you’ll ever need. The book was updated in 2017, and is made up of three parts: Plant, Grow, and Harvest. Pape has written a step-by-step guide that is easy to follow, and promises to massively improve your financial health. The book contains real stories about Australians who followed the guide and found success, as well as lots of tips and tricks that you may not have heard elsewhere. The book contains tips for people in any stage of life, and in any stage of their financial journey. The book would make a great gift for a loved one, or just for yourself!

The Barefoot Investor is available in paperback and ebook.

payment strategies financial resources

2. Payment Strategies

Beyond Debt have two payment strategies that do not require any restructuring of finances to carry out. Using one of these strategies will cut down the amount of time it will take you to become debt free. These strategies work best for credit card or similar debt, as sometimes you will incur a fee for paying off a personal loan faster than intended.

The first strategy is the High Interest Strategy, which involves paying off the debt with the highest interest first, so you can get in before too much interest is incurred.

The second is the Snowball Strategy, which we highly recommend, as in involves paying off the smallest debt first, then beginning on the second smallest, and so on. We recommend this strategy, as it is more beneficial psychologically to see your debts being paid off one by one.

debt calculator finance resources

Debt Calculators

Calculators are a key tool when choosing a mortgage, planning a budget, or looking at repayments. Beyond Debt have five calculators that will give you a starting point with your budget, mortgage, credit cards, repayments, and debt consolidation. This is a great place to start if you are feeling overwhelmed by debts, or are not sure where to start with your mortgage or a budget. If you have found that you are unsure how to proceed after making initial calculations, contact one of our consultants today.

 

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