Stuart Fisher, Debt Left Me In A Huge Hole!:

Stu let’s talk about your money situation before the book. Think back one year ago and tell me about your debt and money problems?
I was a very "want it now" type - and would try and find whatever means I could to make it happen. So I got loans or store credit - Oh sure, I had a big screen TV - but by the time I paid it off it cost 2 - 3 times what it was actually worth. All of that led to a debt of over $20,000

Now tell me about it today. What has changed and how do you now feel about money?
Well the debt is coming down - not instantly - but more deliberately. I am more conscious of what I'm spending - keeping receipts means I will actually question myself before I buy something. DO I really need it? or just want it? and if I want it (without needing) can it fit into the budget I have looked at for myself. It means I'm not being wasteful with money.

Stu you are a comedian and musician, does this mean that your pay goes up and down each month depending on how busy you are? How does this affect what you do with the money? What are the positives and negatives?
One positive is the hourly rate of a comedian/jazz musician can be fantastic, although the behind the scenes work takes a long time - but the negative is there isn't really any constants and in a small city like Brisbane, that can be limiting on your income stream. It means that you need to think ahead, and as I mentioned before - you need to think about where your money's going and if that will benefit you long term.

What is the best investment you have ever made and why?
At this stage - I am looking at getting into something - my parents were heavily involved with Storm Financial, and it's really made me think about the best way of doing something.

What is the worst investment you have ever made and why?
My first long term girlfriend... after our relationship broke down she left me with $6000 in consumer debt and nearly $4000 unpaid rent - it left me in a huge hole which I'm really only just overcoming.

If you could go back in time to your 18th birthday, what would you say to yourself regarding money and debt?
I don't know that I would have listened to advice back then - but - I would have said - the "toys" that you think you want will be useless in no time at all. And although it's nice to have friends, the idea that you know the names of all your debt collectors is not a good thing.

How do you now feel about credit cards and personal debt?
As for credit cards - if used properly with the rewards side of things, you can actually benefit from them but BEWARE. As soon as you have paid it off - that's NOT more money in your pocket. But less debt is just as good.

As for personal debt - I'm learning that if I can't have it now - it's not needed - "when i was a kid..." I got by with the bare necessities and didn't have any adverse affects. There is a HUGE difference between WANT and NEED.

Property prices in QLD are very high, how do you cope and do you have a long term plan?
Well to be honest - my situation before left me with a credit history that both pots and kettles are calling black.. so at this stage - I'm focusing on getting my debts out of the way - and then working on saving for a deposit. Then the skies the limit.

Have you got any big purchases on the horizon, what is it and how do you plan to pay for it?
We are thinking of another car for the family - we have two kids and our situation is getting a bit difficult - I'm looking into Novated Leasing as an option, but have decided that whatever we do - we will not buy brand new... as nice as that smell is - I can't justify the cost of a new car - and you can get new car scent in a spray now anyway.

Have you got a saving tip to share with our readers?
For me - one of my biggest things was buying food outside the home. But my partner and I have a system where at the beginning of the week we make a HUGE salad that we keep in the fridge (you may need to invest in a good plasticware container) and each day we take a bit out for lunch. This saves time in the mornings, and of course money, because we're not buying out - and it has the added benefit for me of helping me lose a bit of weight - that's every box ticked.