Stories/letters from girls

Getting on Top of Credit Card Debt

Posted:03.26.2013

Did you know the average credit card debt in Australia is $3500? And paying minimum repayments at the average interest rate of 21.5% could take over 90 years to pay off?

Shocking but true.

In a recent article in The Sydney Morning Herald ‘Plot a path to turn red into black‘, some basic tips to get yourself out of a credit card pickle were shared along with case studies which show it can be done.

Here are some other tips and resources to help get on top of debt and back into black:

TIP!! If you are consolidating debt, make sure you are careful of your credit rating, making multiple applications for credit cards etc can impact your ability to apply for a home loan etc. at a later date. Talk to your bank manager/s but don’t let them log any applications for you unless they’re 100% sure you will get it. You can check your credit history by getting a free copy of your credit report from these credit reporting agencies:

TIP!! Paying a little more than the minimum repayments on your credit card can mean the difference between having the debt for 90 years or 2!

Paying more than minimum repayments on credit cards

Start small, be strategic, keep on it and you’ll get there in no time.

Story of a girl – Sarah Power

Posted:08.02.2011


NAME: Sarah Power
ATTENDED: Life Planning Workshop Canberra June 2010

I have always been a daydreamer.  Ever since I was little I would spend hours day dreaming about my future and about who I would be when I grew up.  At the time I attended the Canberra Life Planning Workshop in June 2010 I had just turned 30 and despite amassing 30 years of day dreams I realised that I hadn’t actually achieved any of my dreams or even knew which ones I wanted to achieve.  As for how to start achieving, no clue!!  I kept waiting for things to fall into place, the perfect job at the perfect time, skills magically appearing to start a new hobby (and be the best rock star ever discovered), buying my dream home, starting my perfect lifestyle and obviously winning lotto to make all of this happen.

It has now been just over 12 months since I attended the Life Planning Workshop and guess what, I won lotto!  Nope, telling lies, I didn’t win lotto.  I did however learn to make realistic goals and that there is nothing wrong with a little bit of planning!  The beauty of the workshop, and what 10thousandgirl is about, is how to identify what is important in your life, how to create goals to align with these aspects and then how to make finance work for you to support your goals.  

Creating a life plan was an epiphany for me, along with the realisation that making plans and putting words/dreams into action isn’t all that hard if you view it as part of your journey.  So I decided to stop waiting for things to happen for me and to start making things happen!  

And to prove it’s all not talk, I actually ticked off a lot of little actions and ended up ticking off a pretty big goal.  I created and launched my own range of organic bed linen that is unique and a heartfelt part of me. www.ohmabel.com.au commenced operation in April this year and have had a tremendous response to the concept.  Oh Mabel may not take over the world in terms of retail or the bed linen industry, however I hope that by starting and achieving this goal, that the result will set me up to continue enjoying a life that I have created as opposed to continuing a life where I felt I was just following the well trodden line.  

I feel that so much is now possible, and that is due to the tools I learnt from 10thousandgirl and their amazing Girls (thanks Zoe!) and from what I have learnt from starting Oh Mabel, is that there’s never any point in saying ‘Nope too hard’.

I am now excited about the prospect of the next 10 years and am determined to keep dreaming so that I can live them out instead of wishing.  Thanks 10thousandgirl!

Thank you Sarah and your wonderful enterprise Oh Mabel looks fabulous – we all want to jump into that bed in the field :)

What is microfinance?

Posted:07.04.2011

So what exactly is microfinance? 10thousandgirl’s microfinance partner, Opportunity International help us go back to basics and explain the concept before Jhunu and Minati share their story.

What is microfinance?
Microfinance includes basic financial services – including small loans, savings accounts, fund transfers and insurance. Alongside non-financial services such as business training, microfinance assists people living in poverty who wouldn’t usually qualify for regular banking services because they have no form of collateral or formal identification.

Loans as small as $100 help people in poverty start or grow their own small business. This enables them to earn an income so they can afford food, clean water, proper shelter and an education for their children.

Through local partners in the countries where we work, Opportunity is a provider of socially focused microfinance – existing to help people out of poverty above all else.

How does it work?
By helping a mother buy a sewing machine to start a tailoring business or a father buy seeds to plant a vegetable garden, small loans enable people in poverty to earn an income and provide for their families. As each business grows, loans are paid back and lent out again. With 97% of loans repaid, the cycle continues, year after year. Each successful business feeds a family, employs more people and eventually helps empower a whole community.



Are you part of a GIG (Girl Investment Group)? Take charge of your own finances and in the process provide microloans to help women around the world lift themselves out of extreme poverty. Read more to join the campaign and create your ripple effect. More stories here

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