Do you feel like your debt is growing out of control? At Debt Free Australia we care about our clients. If you have reached a stage where there is no escape from the depths of debt, contact us now!

To help save money and minimise the risks of your debt getting out of control, here are our top 3 tips for 2018:

1. Record your expenses
The first step to saving money is determining how much you spend and what it’s spent on. Keep a record of all expenses even small expenditure like takeaway coffees, newspapers, magazines and breakfast or lunch etc. Once you have this information, organize the expenses into categories such as food, petrol, essential bills (like utilities) and leisure. Looking at your credit card or bank statements can be a good starting point. If you use online banking, you may be able to filter your statements to easily search for expense items.

2. Create a Budget
Once you have seen how you have been spending your money, you can then make an assessment if any expenses can be reduced or cut all together. Once you have documented your desired expenditure, this will become your budget. You should then compare your actual expenditure against your budget every week, so you can see if you have been sticking to your budget. After you have gone over your actual expenditure and compared it to your budget, you can then make an assessment if you need to make any changes to your budget.

3. Set goals to save for and determine your priorities
Setting goals is one of the best ways to save money. Prioritizing your goals can give you a clear idea of where to start. Start by thinking of what you need to save for most, then figure out how long it might take you to save for it. Once you achieved your goal, make sure you reward yourself.

If you have tried the above tips and you are still struggling with debt repayments, then you will most likely need professional debt advice. Here at Debt Free Australia we have fully qualified accountants and debt specialists ready to help you. Call us at Debt Free Australia today on 1800 462 767.