Mr Taxman
Change the way you feel about taxes.
Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
  • click to visit Mr Taxman on Twitter
  • click to visit Mr Taxman on FaceBook
  • rss

Golden rules to avoid debt

Oct 20, 2010

Don't borrow to your limits -

Lenders can be overzealous. Give yourself a bit of a buffer to cater for interest rate rises & unexpected costs

Prepare and follow your budget -

Well done if you set a family budget but you need to enforce it as well. Don’t get slack and relent to the pleas of your kids... or your partner!

Live to your means -

Living like a king on a pauper’s income is a sure recipe to disaster.

Don't keep up with the Joneses -

Just because your next door neighbours has the latest & greatest gizmo doesn’t mean that you must have it. If you can’t afford it then don’t get it. Be disciplined!

Cut up the credit card -

It's too easy to fall back on easy credit when you are short on funds. Learn to save for life's luxuries.

Pay off the loans with the highest interest first -

There's no point in paying extra off a home loan at 9% if you are not reducing the 24% credit card bill.

Tags: FamilyFinancial Planning

Author: Mr Taxman

Comments

"Hello, I was just going through some finance related sites and blogs and came across your site (http://www.mrtaxman.com.au/) too. I really found it interesting and informative. I am working and associated with many finance sites as a content writer and I write articles on various topics of Finances. I really liked the way you have presented your site. I would love to do a “Guest Post” for your site like I did for other sites without charging you a penny :) Some of the companies I co-author for are Community Development Financial Institutions, Oak View Law Group, Center for Community Development Investments etc. It would be great to be a part of reputed site like yours :) The article will be 100% original and will be published only on your site. If you want you can suggest me a topic and I ll write an article for you on that topic. Looking forward for a positive reply :) Thanks, Patricia Briggs Content Editor "

By: Patricia Briggs on May 18, 2011 10:28AM

Post a New Comment

Media Availability

Are you interested in booking Mr Taxman for a speaking engagement or requesting his viewpoints for an article?

comments-rhsLatest Comments

  • "Attention!!! Do you need Urgent loan? We give out loan to interested individuals who are seeking loan with good faith and with the interest rate of 3%. Are you seriously in need of an urgent loan?..."

    By: Alexander Comfort at Apr 23, 2017 1:40PM

    Post: Super, mortgage, small business benefits: How to get more money from your tax refund in 2016

  • "I have a HECS debt from 1998 that I have never repaid as I moved to UK in 2000 and unexpectedly stayed! Will this debt ever need to be repaid if I continue living in UK? If I return to Oz to..."

    By: Steve at Apr 23, 2017 8:26AM

    Post: Two important dates for those with HECS/HELP debts

  • "I really don’t know much about this scam thing and at the same time, no one wants to be on the losing side. But i just came across a good hacker who helped me hack my ex boyfriends text messages..."

    By: karr at Apr 22, 2017 8:29PM

    Post: Marriage

  • "I WANT TO TESTIFY OF A GREAT AND REAL SPELL CASTER CALLED DR KAKUTA . THIS GREAT SPELL CASTER HELPED ME CAST A RETURN LOVE SPELL ON MY EX AND JUST WITHIN THREE DAYS MY EX RETURNED BACK TO ME WITH SO..."

    By: KEISHA at Apr 22, 2017 10:19AM

    Post: Marriage

  • "Hi Mr Taxman, I have been looking into my HECS debt because I feel that I should have paid it off by now. In 2011 the debt was at $21 399. I started working full time in 2013 and have been paying..."

    By: Natalie at Apr 20, 2017 9:06AM

    Post: Two important dates for those with HECS/HELP debts