Burley's debt reduction hand out

From: Nigel W

Hi All

Somebody posted a few months ago a short word doc handout by Burley for debt reduction for those up to their elbows in Doodad debt.

I need to give it to a colleague who is up to her elbows in shoe (er credit card) debt. (Yes, it seems that just because you're a professional doesn't mean you've got good money habits!)

Could someone please repost the attachment?

I know there's a chapter on it in his book - but that's at home!

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Reply: 1.1
From: Nigel W

Many thanks Duncan.

Now for the hard part - the mindset shift!

You can't help people who won't help themselves...

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Reply: 1.1.1
From: Duncan M

Hi Nigel,

Interesting subject..

You might consider recommending a few books to them. Particularly Mary
Hunt's "The Cheapskate Monthly, Money Makeover" as its not just getting rid
of debt that people to need to have under control its the day to day
management of money. A lot of years ago, I read Noel Whittakers "Getting it
Together", whilst I find him a boring old fart now, it was a good book at
the time when my financial mindset focussed more on borrowing than repaying.

Of a more esoteric nature is George Clason's "The Richest Man in Bablyon"
another book to get people focussing on debt reduction.

Cheers, Duncan.
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From: Nigel W

Thanks. My copy of Richest Man in Babylon is incredibly well thumbed and underlined!

I must say though that I tend to view it as a conservative bedrock from which to venture forth. I think if you're only saving and investing 10% you're not trying hard enough. I think 30% should be the benchmark...

I actually said to Ms InDebt that my money said she wouldn't even read to the end of the burley paper - that got her fired up (as she's used to wading through massive due diligences) a bit of reverse psychology ;-)

Re Noel Whittaker - it's sound advice for the masses - but who wants to be ordinary?!
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