So here it is – New Year’s Eve. And by this time tomorrow we’ll be sitting back contemplating the first few hours of 2017.  (Of course, there are some of us who will be nursing a more fragile state of mind)

Most people that I’ve spoken to recently tell me that they hope to pay off their credit cards at some point in time during the coming year.

But did you know that Australian households overtook the Swiss as the world’s most indebted this year?  Our outstanding debt is equivalent to 125 per cent of GDP and there seems to be no change in sight. As one of the highest ratios in the developed world – that’s a lot of debt!

During 2016, the Deutsche Bank  calculated that the ratio of average Australian weekly mortgage interest payments to weekly income had increased from 53 per cent in September 2013 to 66 per cent in December last year. That’s higher than the 57 per cent average and comes despite exceptionally low interest rates.

A financial goal is also a great way to start the New Year. If you’ve got your budget under control – keep up the good work! Perhaps it’s time to reassess where it’s heading.

If you don’t have a working budget in place, then maybe it’s time to take some responsibility for your finances and get them into better shape.

I find it amusing how many people spend so much money on gym memberships to get their body trim and taut, but never give a thought to spending anything on getting their finances into better condition.

Making your body look and feel better is a work in progress and sometimes, to get the results that you want, if you’re not careful you could end up spending money on that pursuit for the rest of your life.

Getting your finances to look and feel better is also a work in progress. But, unlike the gym, it only takes one appointment with Budget Bitch to learn how to get the results you want for the rest of your life.

It’s not expensive – call me!

(c) Carmel McCartin – Budget Bitch

And don’t forget – (The views expressed in this blog are the personal opinions of the author. Don’t rely on them to make financial decisions, you have to make up your own mind. If you don’t like the content – then either stop reading or send me an email)