Melanesian Trustee Services Limited

23/12/2021

We are closing office today and will see you all in 2022. Enjoy and keep safe during the festive season.

21/12/2021

🎅🎄🌟 SEASONS GREETINGS FROM MTSL 🌟🎄🎅

13/09/2021

Happy 46th Independence Celebrations this week PNG 🇵🇬🇵🇬🇵🇬

10/03/2021

The Controller has issued new preventive measures...take heed and stay safe.

With the recent surge in COVID in the nation's capital, Police Commissioner David Manning as the Controller under the National[...]

08/03/2021

🟣Happy International Women's Day 🟣
🙋‍♀️🙋‍♀️🙋‍♀️

24/02/2021

Our PBF Unit holders in Port Moresby can come by the office for any queries, for those in outside centres you can contact our team on the phone numbers and email address below

17/02/2021

DEALING WITH DEBT -

When you’re ready to tackle your debt, these steps should help you make the most of your efforts.

1. Pay More than the Minimum
Make sure that you always pay more than your minimum payments on your debts, if you only make your minimum payments each month, it can take forever to pay off your balance. That’s because the majority of your minimum payments will go towards paying interest fees rather than reducing the amount you actually owe (i.e. the principal).

2. Spend Less than You Plan to Spend
Most of us have wishes and wants that are bigger than our pay cheques. You might have heard the old saying, “You can have almost anything you want; you just can’t afford everything you want.” Many people get into debt and stay in debt because they tend to buy what they want, when they want. Not even millionaires can afford to buy everything they want. If you want something, don’t buy it unless you have the money. If you can be satisfied with less than you would ideally want, even temporarily, you can use the money you save to pay down your debt.

3. Pay Off Your Most Expensive Debts First
One of the smartest strategies for getting out of debt is to make minimum payments on all of your debts except for one. Chose the one debt that is charging you the most interest and focus all of your extra payments on paying off that one first. Once you’re first, most expensive debt is paid off, take all of that money that you were paying on that first debt and focus it on the next most expensive debt. Continue this method as you pay down each of your debts, and you will be left with your least expensive debt to pay down last. This strategy will get you out of debt quickly, and you will feel encouraged as you see your progress.

4. Track Your Spending
Identify Areas to Possibly Cut Back
For some people, doing this can save them almost as much money as working a part time job. You won’t know how much you can save unless you give this a try. Track what you actually spend—not what you think you should be spending, over the course of a month. If you aren’t honest with yourself in this exercise, it won’t work, but most people are surprised by what they find out about their spending. Once you know your spending habits, you should be able to identify areas where you can cut back.

5. Create a Spending Plan
Okay, so the “b” word has to fit in at some point. In truth, a budget is just a spending plan. It will help you stay on the straight and narrow with your current debt payments, or your new accelerated payments. A spending plan is something you lay out to make sure that you are spending less than you earn. Some people say that they don’t like budgets, but have these people ever tried one? Better yet, if you’ve lived all this time without a budget, how do you know you won’t like having one? After trying a realistic budget on for size, most people agree that the alternative—being in debt—is much worse.

By Jordan Evans & Julie Jaggernath
Source: https://nomoredebts.org/blog/dealing-with-debt/12-ways-to-get-out-of-debt

11/02/2021

Since MTSL's management of the fund, its performance has vastly improved and dividends have been paid out to verified unit holders

10/02/2021

MTSL has managed Pacific Balanced Fund as Trustee since 2002 - here are some insights into the fund

10/02/2021

7 STEPS TO A BUDGET MADE EASY

Step 1: Set Realistic Goals
Decide what’s important to you and start there

STEP 2: Identify your income and expenses
You probably know how much you earn each month – but do you also know where it all goes? Find out by tracking what you’re spending

STEP 3: Separate Needs and Wants
Ask yourself: Do I want this or do I need it? Will spending this money get me closer to my financial goals or further away? Can I live without it? Set clear priorities for yourself and the decisions become easier to make

STEP 4: Design your budget
Make sure that you are not spending more than you make. Balance your budget to accommodate everything you need to pay for

STEP 5: Put your plan into action
Match your spending to when you receive your income. Decide ahead of time what you’ll use each pay cheque for. Ask yourself: Have I allocated money for my necessities (housing, food, utilities, transportation, etc.)? Have I put money aside for my debt payments, unexpected expenses, savings and the fun stuff? This will protect you from going into debt further because you won’t rely on credit to pay for your living expenses

STEP 6: Seasonal Expenses
You know that things will “just come up” – school expenses, new shoes or an annual membership. Set money aside to pay for these expenses so you can afford them without going into debt

STEP 7: Look Ahead
Getting on track with a budget can take a month or two. You’ve lived all this time without a spending plan, so give yourself time to adjust


Sourced from: https://www.mymoneycoach.ca/cgi/page.cgi/2/article.html/Budgeting_Tips/_7_Steps_to_a_Budget_Made_Easy_

08/02/2021

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