Hi Scott,
I’m a single mum of two very active teenagers. I earn a decent full-time wage but I am overwhelmed by debt. Right now, I only have $50 left in my account until the next payday. Their father doesn’t contribute. There isn’t a facet of our lives which is not struggling and scary daily. I’m receiving defaults and letters of demand from debt collectors, and I’m behind on my rent. I’m committed to getting out of this situation and have even started selling items to raise the $2000 for a Mojo account. After escaping an abusive relationship and being homeless, I want more than anything to give my children a stable and worry-free existence. Can you recommend a financial advisor who can help me set up the investment accounts for the kids?
Jenny
Jenny
There are things your kids need:
A loving mum who isn’t totally stressed out and working round the clock. A warm house with food on the table. Eight hours of sleep. Part-time jobs so they can fund their active lifestyles.
A stock market trust fund is not one of them.
The way you give your kids a stable life is to get stability yourself. Research from Deakin University has found that the financial stress that you’re under feels the same to your brain as physical torture. In other words, you can’t operate like that for too long – it takes a toll on everyone.
So I want you to call the National Debt Helpline on 1800 007 007, and talk to a financial counsellor. They’ll sort out who you should pay, and who can bugger the hell off for the time being.
Jenny, I want you to know this:
I think you’re doing a great job keeping it all together. All the sacrifices you’re making, and all the hard work you’re doing, isn’t going unnoticed. Your kids are watching and absorbing everything you’re doing for them, even if they don’t tell you today. You’re making a hell of a difference, you just wait and see.
Scott.