Early July 2019, we started working with a client who was completely embarrassed about their situation.  They had unsecured debt of nearly $40,000 plus a car loan, plus a mortgage, all whilst being a single parent with 2 children.  They were stressed to the max with late fees on their credit cards, and worked in a job where income was inconsistent.  Some weeks their pay was high, other weeks their pay was low.  It was the low weeks that really effected our clients ability to stay on top of their finances.  Additionally, their credit score was shot to pieces, meaning a simple refinance of unsecured debt into the home mortgage was completely out of the question.

From the initial appointment through the following months we worked on a plan that allowed our client to have the same amount of money each week for the essentials they required – groceries, petrol, medications and even a weekly spending allowance to spend on whatever they felt like during that week.  This meant that our client had consistency.  Once the money was spent, our client knew that it would be there again the following week.  It meant that our client could stop relying on credit (and increasing their unsecured debt), and they could start living their life!

Once we had implemented a simple weekly cashflow, we then took a hard look at the unsecured debts, the mortgage and car loan and developed another plan around the high and low pay cycles that made sense, was simple, easy to implement, but most of all – delivered real results and got creditors off our clients back.  Our initial client meeting showed that their current unsecured debt was costing them $550 per week and over $2,300 per month, so you can understand how frustrated and under pressure our client felt.  The debt has been crippling their household.

Since working with us, our client has paid down approximately $750 per month extra to their unsecured debt so far – consistently!  Over the quarter this means they have paid an extra $2,250, in 6 months $4,500, in 12 months a whopping $9,000 of unsecured debt paid, all whilst being a single parent on a modest income!  Our client is on-track to exceed this target by snowballing their debt.  Essentially, the more we pay off, the more we can snowball, and its all part of the simple, easy to follow plan provided by Adelaide Budgeting.

What we didn’t know about our client was that prior to signing up with us, they had been tracking their credit score each month via an app on their phone.  The results…?  That’s nearly a 100 point improvement in as little as 3 months!  That is AMAZING and the result of a dedicated client; willing to put in the effort; willing to stick to the program; to achieve REAL RESULTS in their life!

Score 534, 2^nd of June 2019 – a month prior to working with Adelaide Budgeting.

Score 583, 15^th of August 2019 – a month after working with Adelaide Budgeting.

Score 633, 5^th of September 2019 – 3^rd month after working with Adelaide Budgeting.

We are only 3 months in, on a 12 month plan for our client and we cannot wait to see what the next 9 months have in store!!

We love creating amazing cashflow strategies for our clients; no matter how challenging they may be!  If you want to find out who we are; why we are different; and what we can do for you then please give us a call today 0420 846 454.  You will soon realise that there is nobody in the market today quite like Adelaide Budgeting that are delivering real results where it counts with so much simplicity!

We love working with clients who have the desire, the will, and the want for amazing positive change in their lives.  If you are struggling to get ahead financially or know somebody that is, please pass this information onto them so we can connect and help them.

At Adelaide Budgeting we love to celebrate client milestones and are thrilled with the positive outcomes that our clients are receiving from our service.  Below is our most recent success story from a client we have been helping over the last 4 months.

Our client had been struggling with cashflow due to high utility bills, high credit card debt with mortgage repayments being unmanageable.  Our client was at the point of receiving lawyer letters from their lender of the mortgage to remove the client from their property!  Our client wasn’t sleeping or enjoying a quality of life and was financially crippled by their situation.

Through getting to know our client we were able to delve into their entire situation and see what could be done instead of either selling the property or having our client removed from their property.  In our process we were able to provide our client with a snap shot of their current situation which, which was a little bit dire to say the least, however, it is one of the first steps in educating our clients on their current position.  Once we had a baseline and a thorough understanding of what we were working with we then worked together on a solution that worked for our client.

Our findings were that credit card debt and high mortgage stress were the key players in crippling our clients lifestyle.  We determined what the current costs were, removed them from the household budgets and viewed the entire case without the credit cards and mortgage cost as part of the process.  By doing this we showed our client how easy life would be without these debts and it also showed us how their life would improve without these debts.  The reality was though, that these debts existed.  So how could we improve the situation?  What would our clients lifestyle look like if the repayments could be lower?  What number can we make these debts “theoretically” to make our clients budget and lifestyle improve and work better?

By removing the mortgage and credit cards we determined a number which was $450.00 lower per month that we could allocate towards the payment of mortgage and credit card repayments.  All we needed to do was a simple refinance – if it was possible due to the clients credit history and credit card debt (which is not always that simple!)

As Adelaide Budgeting are not mortgage brokers, our team reached out to our broker network and posed the question to our brokers who can offer a refinance that would work best for our client… the result?  Great success!

The number we generated theoretically was $1100.00 per month which included mortgage and credit card repayments (in terms of refinance, credit cards have been paid away and cancelled).  The deal our client received was less than $1050 per month in repayments!

What did this mean for our client?  Well, it meant that they got to stay in their own home, their credit card debt disappeared, their lifestyle has improved, their cashflow has improved, and over time our client will be sleeping easy again!  What’s more is that they now have an effective budget, plan and savings strategy in place to ensure that this situation never happens to them ever again!  They have benefitted from the education and training that Adelaide Budgeting have provided and embraced the process to what has been an amazing saving in our clients life of over $450.00 per month which is a net result of over $5400.00 annually!  A huge result to any clients bottom line and an amazing outcome!

So how did we help?  In this case we:

• Ascertained clients current position
• Identified current crush points
• Provided a solution that works for the clients individual situation
• Sought out the correct professionals (in this case a mortgage broker) and provided those professionals with intricate detail to better our clients position

By working with us our client has saved money, kept their home, and kept their sanity!

The process from beginning to end was 4 months and all parties had regular contact and up to date information at all times. A clear strategy, budget and plan and a very happy client!

Do you know someone that could benefit from our service?  Talk to us today to find out how we can help – www.yourbudgetmates.com.au – 0420 846 454.