Managing Debt
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Managing Debt

Debt can be stressful.  It can keep us awake at night and the worry of it can impact on our wellbeing and our relationships. Keeping up with payments while juggling everyday life expenses can be hard enough but when something unexpected happens things can start spiralling out of control. 

Here is a sheet in a simple list format designed to gather all the important things to know about our debts. To take control, we must know exactly how much we owe and to whom we owe it. Gathering all the details and getting it all out on the table is the first step. 

Debt solutions can include:

  • Affordable debt repayment plans

  • Hardship applications or KiwiSaver withdrawal 

  • Insolvency options, Summary Instalment orders or Creditors Proposal 


Make a start, download the spreadsheet and gather your debt information into one place. If you want help, a Moni Ora Financial Mentor can support you develop a debt plan that's right for you.

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Phone 06 867 7173

SMS 027 8432 868

Nau mai haere mai

48 Cobden Street, Tūranganui-ā-Kiwa, Gisborne

Open weekdays 9.30am to 4.00pm

Where to start? 

When it comes to budgeting it doesn't matter where you start. What matters is that you do start! 

If you are worried about debt try starting with the debt schedule. At Moni Ora, many people have told us that putting it on paper has taken it out of their heads. Start with what's worrying you the most. Make a list of what you know now and add information as you remember or find out what you don't know. 

This worksheet to used to keep all your debt information together. It is a simple list format designed to gather all the important things you need to know about your debts. Columns include: 

  1. Creditor name is the person or company you owe money to. Include all your debts even if they are old and have already been sent to collections and you haven't got a current payment plan - put 'em on the list. 

  2. Total debt is the total amount you still have to pay off. If you don't know exactly just put the amount you think it might be and include a note in the comments column to remind you to find out. 

  3. Secured or Unsecured column is asking if the debt is secured or unsecured. With a secured loan if you default on your payments or get behind the creditor can seize property and sell it to recoup the funds owed.  Simply put, that means if you stop paying - something will be repossessed. With unsecured debt, the creditor may take court action to collect what is owed if the loan/account goes into default. 

  4. Overdue is asking are you behind with any payments, or are payments are overdue. If so, put how much is overdue in this column. 

  5. Payment amount is the amount you agreed to pay each week, fortnight or month. 

  6. Frequency is how often you make payments ie weekly, fortnightly or monthly etc... 

  7. Interest rate is the rate of interest you are paying, on the loan/contract. Note the frequency that the interest is calculated if you know it. 

  8. Priority is asking you to rate or prioritise the debt in order of importance. There is no right or wrong, this column simply indicates to yourself in which order you'd prefer to tackle the list. As a general guide, any payments that are overdue and at risk of penalty fees and interest or repossession would be a higher priority because they are costing you money. 

  9. Comments/Notes is simply that - somewhere to add extra key points that are important or reminders for you to follow up.

"In this example, Mary-Jane is worried about her power being cut off but she has no worries  with her no-interest loan"

"Mary-Jane will pay $600 more for her Good Deals Loan in interest over the term of the loan"

Ahakoa iti, he pounamu

Treasure even the smallest of acheivements

Gisborne Budget Moni Ora is a provider of Building Financial Capability services under contract to the Ministry of Social Development

Good debt vs bad debt

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PO Box 1220, Gisborne 

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Gisborne Budget Moni Ora is an autonomous non-profit organisation that exists to build financial capability in Tairāwhiti. 

Gisborne Budget Service is an incorporated society

and a registered charity, CC28561

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