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Re: [Special guest] 20th of April - Noel and Finances

What are some of the challenges you face in terms of money?

Some of the challenges I find is budgeting when you have shift work and are uncertain each week how many hours you will be getting. It can make it difficult to project a future budget. I also have a habit of loving to op shop a bit too much or treating myself to unnecessary items, definitely need to reign in my self-control over shopping.

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Re: [Special guest] 20th of April - Noel and Finances

Shift work is a pretty big problem for people isn't it? I know sometimes people will get 3 shifts in 1 week and then the next week they have one @SmileMonkey (LaughingLemur)

Re: [Special guest] 20th of April - Noel and Finances

What are some of the challenges you face in terms of money?

 Well, getting out of debt takes a bit of work, because you need to pay a little bit off every time you get paid, which means you have a little less to spend on other things. This is quite tricky when you're living costs are high, which where i live, they very much are. My rent is about half my pay check every week, eep! Normally that's okay, but sometimes things happen, like you need to repair something, or a bill is unexpectedly high. That can make things pretty tough pretty quickly! I know for a lot of people, who have kids, a really big debt and perhaps not the same ability to earn money, that can make things go from a tough time, to a very scary experience Smiley Sad It's good that there's people like @Noel-Moneycare out there to help out when things look overwhelming Smiley Happy 
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Re: [Special guest] 20th of April - Noel and Finances

That would be hard @FootyFan26, especially trying to budget on a small income whilst trying to help family.

 

Great point @roseisnotaplant, it can be hard at looking for a new or first job, and that feeling of getting that first paycheck can make you just want to spend it all very quickly.

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Re: [Special guest] 20th of April - Noel and Finances

Its difficult trying to balance school and work and finding part time work can be a real pain.The challenge we all have is have to live within our means, having an understanding of where you are at this moment in time and what money  you need to live. Being able to make informed financial decisions about money and avoid the pitfalls of instant credit is important.

Re: [Special guest] 20th of April - Noel and Finances

That's a great point @Ben-RO, especially for people receiving centrelink benefits whose rent may be over half of their fortnightly income, it's hard to budget for those quarterly expenses like electricity bills or water costs or even car rego, when there is little money each fortnight to cover basic necessities like food. That is why it is so great there are amazing financial counselors like @Noel-Moneycare who can help people to deal with financial issues.

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WE WANT YOU to tell us what kind of infobuses you'd like to see! Let us know here.

Re: [Special guest] 20th of April - Noel and Finances

So @Noel-Moneycare what can someone do if they're unable to pay a bill on time? Instead of getting a crazy expensive loan? 

Re: [Special guest] 20th of April - Noel and Finances

That makes sense @Noel-Moneycare, and finding part time work can definitely be a challenge Smiley Very Happy

Re: [Special guest] 20th of April - Noel and Finances

If you unable to pay a bill on time just let the creditor know. They understand that people are in financial hardship from time to time and they will work with you to achieve a suitable outcome

 

Re: [Special guest] 20th of April - Noel and Finances

Oh cool that sounds like a great idea, do you have an resources for people who might want to know more about how to have that conversation @Noel-Moneycare