In Times of Need – June 2005

I am frequently asked why I am still working. In simple terms I expect the answer is the money. In reality I work as a budget advisor because I am passionate about the job and because it gives me so much satisfaction. I am sure the same can be said of my fellow workers at the Rotorua Budget Advisory Service.
It is not always the people on low incomes who experience difficulties. The most common aspect of financial difficulties is the stress that goes with it, and sometimes, the inability to think through the problem. I have experienced people on high incomes with huge credit card debt, and the resulting stress has led to more credit cards, and higher debt. The practical solution would be to consolidate the debt on a personal loan at low interest rates.
On the other side of the coin we meet people every day who decide to consolidate debt, but to do it through loan sharks. This only causes another debt, and often heartache when guarantors and chattel securities are involved.
The best advice we can give is to always make sure that no one proceeds with any financial transaction until the total cost has been determined. Just prior to last Christmas I received two pamphlets in my mailbox. One firm was advertising Interest Free terms, and the other was concentrating on its Christmas Freebies and easy terms. It was interesting to note that both were offering the identical TV set with free DVD. The Interest Free offer gave the cost as $2799.00 plus a booking fee of $49.99 and Consumer Protection Insurance. Total cost less than $3000.00. The other offer was boldly advertised at $39.95 per week, with the term of 39 months in much smaller print. Total cost  $6751.55. The message is quite clear. The secret of budgeting, or money management is to always ensure that outgoings do not exceed income, and to always look for value for money.
We at the Rotorua Budget Service do our best with clients to firstly concentrate on any crisis problems (rent, mortgages, power, phone, repossession etc). After that we concentrate on the lesser problems. The fact that we deal with power companies, phone companies, rental agencies etc on a daily basis usually means that we have a better chance of negotiation than most individuals.
If you have a problem, we are here to help
Pearl Pavitt
Public Relations and Education Officer, Rotorua Budget Advisory Service

Close Menu