I have seen posts and questions in the past about budgeting on next to nothing.

We had been struggling for years, and this year, after 4 months of no income, we were in the worst position we had ever been in.

Our loan payments had been on a hardship plan, which was about to end, the rent was overdue, and lets not talk about the power bill!

I had jumped online, and I was looking at trying to apply for a credit card, with the idea of clearing everything up, then paying off the credit card.

Right as I was about to hit submit on an application, an ad came on telly for My Budget.

Now I had always thought people who used services like this did so as they were too silly to manage their own funds. Then I looked at our financial postition, gulped, and called them.

At first I had doubts – all our income goes to them, they pay out all bills, and we get a living allowance.

They were able to negotiate far better payment plans than I was able to.

2 months on, and, instead of scraping week to week, all our bills are managed, and we have a surplus in our budget that we can use if we want to.

So from being doubtful, I would now highly recommend My Budget to anyone trying to live week to week!

Posted by katelt, 15th August 2013

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  • Thanks for the positive feedback,hope all is going well!


  • That’s wonderful! I’ve always wondered how they work.


  • i haven’t heard of this but i am glad that it has worked out for you!


  • Sounds like a great options. Thanks


  • It’s good to get positive feedback from someone who’s actually used the service. I’ve often wondered about the cost, but if it’s as good as you say, then I will definitely give them a call to find out more. Thanks!


  • Hi Clare – yes it does cost – there is a once off establishment fee, and an ongoing admin fee, but that is all calculated into the budget – you don’t have to come up with anything to start the plan. The cost varies depending on how many creditors they have to make arrangements with


  • Great to hear you found something that works! congrats!


  • wow that is great. Can I ask if it cost anything? The reason I am asking is I know a few people that would probably benefit from this


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