Graeme Holm has built a team at Infinity Group Australia Pty Ltd. that has helped thousands of families reign in their spending, reduce their debt, and get their financial houses in order. He is the director of this firm along with is partner, Rebecca Walker. So, what is his number one piece of advice for getting spending under control? It is to stick your credit cards in a drawer and instead start living a cash-based existence.
The team at Infinity Group Australia helps families create a weekly budget where they only used cash for their day-to-day expenses such as groceries, restaurants, travel, fuel, and other expenditures. Graeme Holm says that his philosophy is that if you can’t buy something with the cash you have on hand then you just simply won’t be buying it. The rest of your money is going towards paying down your debt, in particular mortgage debt.
Graeme Holm says that all that money families frivolously spend on things they want rather than need is far better used paying down their mortgage balance. People need to understand he says that the interest on their mortgages is calculated on a daily basis while it is charged monthly. The only way to take charge of your financial future is to pay your mortgage down as swiftly as possible so that you can use the money that frees up to secure your family’s financial future.
He had been in the financial industry for about 12 years during which time he saw that most of his client’s were living paycheck to paycheck with nary left over each month. He teamed up with his partner Rebecca Walker in order to help families escape from this lifestyle and take control of their money and lives. Infinity Group Austraila takes a client-first approach with the goal of offering them a financial coach who can show them how to get off the treadmill and build up true financial wealth.
Graeme Holm says that credit cards make it way too easy to spend money. He says that strictly using cash makes it a lot easier to stick to a budget and also track your expenditures. He also says that when you can only use cash you have to save up for big expenditures which really makes you think whether you need that product or service in the first place with the answer often being that the answer to that question is no.