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Cale and Jacoba Moreland are already teaching their children Harrison and Adley about smart money-saving habits. Picture: Jake Nowakowski.<\/p>\n
For Melbourne wife and husband Jacoba and Cale Moreland, getting on top of their finances has resulted in more than just peace of mind.<\/p>\n
The couple have been able to enjoy interstate family holidays with their children Harrison, aged nine, and Adley, seven, in addition to paying off an $11,000 car loan and updating their caravan.<\/p>\n
Knowing they have the money allocated for upcoming bills is another bonus.<\/p>\n
RELATED: S<\/a>hocking daily rise in Aussie land prices set to worsen housing crisis<\/a><\/p>\n Revealed: Vic gov\u2019s huge property portfolio amid housing crisis<\/a><\/p>\n Housing advocacy group calls for rent rise caps to help more Aussies avoid rental stress<\/a><\/p>\n Ms Moreland said she and her husband hit a tough spot after selling their former home and purchasing a plot of land in Melbourne\u2019s outer north to build a small house upon.<\/p>\n While planning got underway for their future residence, they rented while also paying their new mortgage.<\/p>\n The council permit for their future house came through shortly before the Covid pandemic hit, which pushed their building quotes\u2019 dollar value much higher \u2013 almost to $1m in one case.<\/p>\n \u201cIt was around about then when we sort-of in real struggle town, almost with what we were sort of trying to juggle and manage at the time,\u201d Ms Moreland.<\/p>\n \u201cCoupled with just your everyday costs and bills that were coming in, I was forever trying to find money to pay for things like electricity.\u201d<\/p>\n While they always managed to pay the bills, it was a stressful time.<\/p>\n Cale and Jacoba Moreland with their son Harrison and daughter Adley, who are aged nine and seven years old respectively. Picture: Jake Nowakowski<\/p>\n After one of Ms Moreland\u2019s then-colleagues suggested they give the budgeting and money management service MyBudget a go, the Morelands decided to trial it.<\/p>\n An interview with a financial counsellor and noting down all expenses, even the $4.99 spent for iCloud\u2019s monthly storage, kickstarted their budgeting goals.<\/p>\n Years later, the couple still use MyBudget\u2019s apps and services to help put aside and allocate money for future expenses, which costs them a weekly circa-$51 fee.<\/p>\n They also made the hard decision to sell their block of land and buy a smaller property.<\/p>\n MyBudget\u2019s founder and director Tammy Barton says there are always options for dealing with mortgage stress, from talking to your lender and reviewing expenses to restructuring repayments or seeking professional guidance. Photo: Naomi Jellicoe.<\/p>\n In addition, they have no credit cards and don\u2019t use buy now, pay later services.<\/p>\n Ms Moreland said her advice for households struggling financially was to communicate about it with loved ones and be unafraid to ask for help, either from family or external sources.<\/p>\n \u201cTalk about your finances as much as it\u2019s nitty gritty or uncomfortable,\u201d she said.<\/p>\n \u201cBecause I think a lot of people take it on themselves, and then that\u2019s when people get mentally stressed, which then has an overflow effect on everything in life.\u201d<\/p>\n According to PropTrack, Melbourne\u2019s median dwelling value \u2013 combining both houses and units \u2013 hit $839,000 in September, a 3.4 per cent rise compared to September 2024.<\/p>\n MyBudget\u2019s founder and director Tammy Barton said mortgage and rental stress were two of the main reasons people called her company.<\/p>\n Being in mortgage or rental stress is defined as when households spend more than 30 per cent of their income on housing, or when they spend more from week-to-week than their actual income.<\/p>\n According to the research firm Digital Financial Analytics, in Victoria there were 520,240 households experiencing mortgage stress and 533,789 experiencing rental stress during the September 2025 quarter.<\/p>\n Ms Barton said financial worries could impact an individual\u2019s mental health and overall wellbeing, from sleep to relationships. <\/p>\n \u201cMortgage stress doesn\u2019t just strain your finances, it can also lead to default notices, which risk penalties and the possibility of losing your home \u2013 the mental toll is significant too, with stress, anxiety, and depression often following financial worries,\u201d she added.<\/p>\n PropTrack figures show that in September 2025, Greater Melbourne\u2019s median weekly rent was $570 for both units and houses, compared $550 for houses and $520 for units in September 2023.<\/p>\n \u201cLong-term, it can damage your credit score, limit future borrowing options and delay achieving your financial goals.\u201d <\/p>\n Understanding these impacts could help people take proactive steps to manage financial stress before it spiralled, she added.<\/p>\n Ms Barton\u2019s advice for people going through mortgage or rental stress, or who felt like they might soon be experiencing it, was to seek help as soon as possible.<\/p>\n \u201cEven if you\u2019re just starting to feel the pinch, it\u2019s worth reaching out, a plan makes all the difference,\u201d she said.<\/p>\n Her number one tip for people in mortgage stress was to talk to their lender and get a clear picture of options, refinancing or adjusting repayments which could help. <\/p>\n Statistics from research firm Digital Financial Analytics show the Narre Warren, Narre Warren South and Fountain Gate postcode has 9729 households experiencing mortgage stress, the largest amount in Victoria. Picture: Jake Nowakowski.<\/p>\n \u201cFor renters, review your budget closely and see if there\u2019s room to save elsewhere or negotiate with your landlord,\u201d Ms Barton said.<\/p>\n \u201cIn both cases, don\u2019t try to go it alone. There\u2019s help out there.\u201d<\/p>\n Her other recommendations include writing down what money is coming in and what\u2019s going out, including \u201cwhat\u2019s not working\u201d. <\/p>\n \u201cAt MyBudget, we see every day how powerful it can be to simply know where your money\u2019s going,\u201d she said. <\/p>\n \u201cHaving a realistic budget and a 12-month plan for your money, gives you a clear picture of what\u2019s possible and where the pressure points are. <\/p>\n Sign up to the Herald Sun Weekly Real Estate Update. Click here<\/a> to get the latest Victorian property market news delivered direct to your inbox.<\/p>\n MORE: RBA rate cuts: Warning over \u2018nightmare scenario\u2019 ahead<\/a><\/p>\n Sale of the Century co-host Alyce Platt lists renovated Elwood home<\/a><\/p>\n<\/p>\n
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