In Times of Need – October 2006

It appears to be a common held belief that only poor people, or those on benefits need to budget. However, when we change the concept to ‘money management’ it is a different ball game. As a budget advisor I welcome the fact that the media now frequently refers to the amount of debt related to the average New Zealander, and it is becoming more obvious that even  comfortably well off people can and do overspend at the rate of $15000.00 per year. It has become  OK for people on high incomes to appear on Television and to be drilled and grilled about the random way in which they spend money, normally on credit cards and Hire Purchase for items which are definitely ‘wants’ and certainly not ‘needs’.
For anyone who recognizes that they are paying only the minimum on credit cards each month, and that it is getting harder to rob Peter to pay Paul, then it is probably time for a reality check. And no, it is not essential to lay your soul bare on National television to achieve this; instead it is possible to get assistance with your local budget service. The service is free and confidential, and the formation of a financial management plan has the added bonus of relief of providing some much needed stress relief.
Pearl Pavitt
Education and Public Relations
Rotorua Budget Advisory Service

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