A new service is about to launch dedicated to help women with credit card debt. And Really Simple Money readers can be among the first to trial Best Financial Friend. Bernadette Chau reports.
Carrie Bradshaw from ‘Sex in the City’ might appear to have lived the life – fabulous shoes, great holidays, fancy dinners and plenty of cosmopolitans. But realistically, was not a great financial role model (Carrie is on our list of TV characters who suck at money – see our article.)
She’s constantly behind in rent, pays bills late and has to rely on friends and her rich banker boyfriend for a Park Avenue apartment.
She also had serious problems with credit card debt.
While not everyone can relate to her lifestyle, many can sympathise where the credit card is concerned.
More than a third of Australian households are under mortgage stress, and two million have at least one “problematic debt indicator” on credit card debt.
It’s a problem that particularly afflicts women. One in four say they have had panic attacks about money.
Now help is at hand. There’s a new app aimed at women with a large amount of personal credit card debt, and the creators are looking for participants to take part in initial testing.
Best Financial Friend (BFF), is an app that matches you with a mentor who will guide you through the Money Coaching Service, and support you while you take part in a four to six-week plan.
The service gives you access to a para-financial advisor who will help you reduce your debt. These consultants are qualified and will listen to you without being judgemental.
- A monthly video conferences
- A debt reduction plan
- You BFF will help ensure you stick to it.
Founder and Chief Evangelist for BFF peter Lord says: “Credit card debt has reached record levels and rather than bring joy, freedom, and happiness it brings sadness, frustration and despair. Too many Australia, particularly women are caught in a cycle of debt and the only group which benefits are the banks. It doesn’t have to be this way.
“Its time to change the way we think about spending, money, and debt. Its time for a new approach. It’s time to build a movement of financially well and savvy women.”
Your BFF will:
Get where you are coming from and give you real, straight-talking money guidance She will keep you accountable and on track – sometimes with a dose of tough love.
Here’s what you’ll get if you win a trial:
To help improve a new, soon-to-be-released money coaching service BFF is looking for people with credit card debt to participate in our pre-launch pilot.
Participants will be matched with their personal BFF who will guide them through the Money Coaching Service. This includes monthly meetings delivered video conferencing.
In appreciation for your time, every participant in the pre-launch pilot program will get their own BFF at no charge. The full Money Coaching Service costs up to $2,000.
In return, we ask for honest, real-time feedback after each session.
How to enter
To enter simply click the ENTER button below and tell us in 50 words or less what being credit card debt free would mean to you and your family?