Paying Off $90K Was Easy Compared to What Came Next …

Dear Scott,

Your book helped us clear $90,000 of debt – something we never thought possible. We stayed debt-free and felt like we’d made it. Then life hit hard: my husband had a serious workplace accident. Despite multiple spinal surgeries, he lives in constant pain and can’t work. We’re relying on his $120,000 TPD payout while a compensation claim drags on with no timeline.

Meanwhile, I lost my job, retrained, and started my own business doing work I love. But, between caregiving, kids and running a household, I’m stretched to breaking point. I still dream of owning a home, but I’m terrified about making this money last. We did everything right the first time, but life derailed us completely. How do we rebuild from here? I trust your guidance – even just a nudge in the right direction would mean everything.

Mary

Hi Mary, 

That sounds incredibly stressful. 

Right now, you’re down a main income earner and dealing with massive trauma. 

But let’s reframe this: just keeping everyone together, with food on the table and love in the house, is winning gold right now. In other words, take the pressure off yourself – you’re already winning. 

Having said that, here’s what I’d do: 

First, check what Centrelink benefits you’re eligible for. Your husband may qualify for Disability Support Pension, and you might get rent assistance and family tax benefits. Every bit helps.

Second, do a budget to see how far you can stretch the $120,000. Reframe that money as two to three years of breathing room while you wait for the compensation to come in. 

Third, while your husband can’t work, maybe he can help with the kids more so you can focus on growing your business.

Park the home-buying dream for now. You’re in survival mode, not house-buying mode. When your compensation comes through and your business grows, revisit it then. 

Finally, sometimes my job is simply to remind you how far you’ve come:

Imagine if you still had that $90,000 debt today. You’d be buried! 

This is a setback, not a life sentence. 

You’re down but you’re not out. You’ll be back – just wait and see.

Scott