(PR.co.nz) With Pohutukawas in full bloom, and Holiday gift giving right around the corner, it’s easy to let your family finances stray into the danger zone. According to Barry Kloogh, one of New Zealand’s leading financial advisors, a new debt management software program is helping people maintain a firm grip on their Holiday finances and even pay off mortgage.
“With so much going on this time of year, keeping the family finances under control during the Holidays can be a daunting task,” says Kloogh, creator of the Debt Breaker Program, a software-based debt management program designed to help people pay off their mortgage years sooner, get out of debt and save for the future. Here are a few of Kloogh’s tips for keeping the Holidays fun, while keeping an eye on your family’s bottom line.
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Don’t overspend. “Easier said than done, I know! You will need to set up a budget to know exactly where you are overspending… on what… and by how much,” says Kloogh, whose offices are at 34 MacLaggan Street, Dunedin, New Zealand. “Many of my clients are using a new computer software program I developed called Debt Breaker. The Debt Breaker Program allows people to see exactly what’s going on with their finances in real time, and make the necessary spending adjustments. Instead of making wholesale spending cuts across the board that are impossible to maintain, Debt Breaker shows you exactly how to strategically get out of debt and save money… without sacrificing any fun over Christmas and the Holidays.”
Stop paying bank fees. Kloogh, an expert at helping his clients get out of debt and pay off their mortgages years earlier, says it’s always vital to double-check your bank statements. “If you are paying transactional fees, then change your account type to a fee free account,” he advises. “However, if you are paying unarranged overdraft fees, then you should set up a budget for gaining control of your finances.” Kloogh says that an overdraft account should be in effect only until your spending/debt reduction is fully under control. Again, he believes this is where computer technology, such as the breakthrough Debt Breaker Program, can come in handy by providing a financial roadmap for people to follow. “Also, be sure to close any extra accounts. Transactional and bills accounts should be the only necessary accounts, apart from your mortgage account, a backup savings account and a long term savings account.”
Repay short term debt as quickly as possible. If the above tips are too late for this Christmas, and you’ve already maxed out your credit cards, then Kloogh recommends setting up a repayment plan right away. “Concentrate on repaying the debts with the highest interest rate first,” he says. “Using computer software, such as the easy-to-follow Debt Breaker Program, will provide a systematic, practical and customized plan for slashing debt, paying off your mortgage faster, and saving for retirement. Basically, it takes the guesswork out of getting out of debt, and paying off your mortgage years sooner, while saving for the future.”
Kloogh, a sought-after speaker and author of the “Money Cookbook,” believes that most people find themselves mired in debt after the Holidays through no fault of their own. “Many folks do their best to budget,” he said. “However, there are always unexpected expenses, last-minute gift buying, party supplies and food, and before you know it – a once manageable amount of debt has spiraled out of control.
“Using computer software like Debt Breaker, which incorporates everything I’ve learned over 27 years of helping people pay off their mortgages early and get out of debt, will have an immediate positive impact on a family’s finances,” he said. “There’s nothing more gratifying than showing people how to pay off a mortgage faster, get out of debt, save for their retirements and ultimately transfer their estates to the next generation.”
Kloogh believes that one reason Debt Breaker has been so well received by experts and the public alike is its ability to motivate people to achieve their debt reduction goals. “Debt Breaker is a ‘living, breathing’ software that reflects the changing circumstances of a person’s financial life. As a result, people see concrete, measurable improvement in reducing debt faster, which is very motivational.”
“I have clients in Auckland, Wellington, Christchurch, Waitakere, Invercargill, Manukau City, North Shore, Otago, Nelson, Tauranga, Canterbury, Dunedin and dozens of other parts of New Zealand – and everybody wants to know the same things: How to pay off your mortgage, how to reduce debt, and how to save for the future and still have money to enjoy life today. Debt Breaker gives people the tools to do all that.”
For more information about Debt Breaker, and to view a free online video, go to http://DebtBreaker.co.nz or call 0800 332 827.
Media Release on 13 November 2012 by Debt Breaker
Media Contact:
Barry Kloogh, Debt Breaker
Email: barryk@debtbreaker.co.nz
Phone: 0800 332 827
Website: http://DebtBreaker.co.nz