Melbourne couple reveals secret to getting on top of money pains

Cale and Jacoba Moreland are already teaching their children Harrison and Adley about smart money-saving habits. Picture: Jake Nowakowski.

For Melbourne wife and husband Jacoba and Cale Moreland, getting on top of their finances has resulted in more than just peace of mind.

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.

Knowing they have the money allocated for upcoming bills is another bonus.

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Ms Moreland said she and her husband hit a tough spot after selling their former home and purchasing a plot of land in Melbourne’s outer north to build a small house upon.

While planning got underway for their future residence, they rented while also paying their new mortgage.

The council permit for their future house came through shortly before the Covid pandemic hit, which pushed their building quotes’ dollar value much higher – almost to $1m in one case.

“It 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,” Ms Moreland.

“Coupled with just your everyday costs and bills that were coming in, I was forever trying to find money to pay for things like electricity.”

While they always managed to pay the bills, it was a stressful time.

Cale and Jacoba Moreland with their son Harrison and daughter Adley, who are aged nine and seven years old respectively. Picture: Jake Nowakowski

After one of Ms Moreland’s then-colleagues suggested they give the budgeting and money management service MyBudget a go, the Morelands decided to trial it.

An interview with a financial counsellor and noting down all expenses, even the $4.99 spent for iCloud’s monthly storage, kickstarted their budgeting goals.

Years later, the couple still use MyBudget’s apps and services to help put aside and allocate money for future expenses, which costs them a weekly circa-$51 fee.

They also made the hard decision to sell their block of land and buy a smaller property.

MyBudget’s 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.

In addition, they have no credit cards and don’t use buy now, pay later services.

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.

“Talk about your finances as much as it’s nitty gritty or uncomfortable,” she said.

“Because I think a lot of people take it on themselves, and then that’s when people get mentally stressed, which then has an overflow effect on everything in life.”

According to PropTrack, Melbourne’s median dwelling value – combining both houses and units – hit $839,000 in September, a 3.4 per cent rise compared to September 2024.

MyBudget’s founder and director Tammy Barton said mortgage and rental stress were two of the main reasons people called her company.

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.

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.

Ms Barton said financial worries could impact an individual’s mental health and overall wellbeing, from sleep to relationships.

“Mortgage stress doesn’t just strain your finances, it can also lead to default notices, which risk penalties and the possibility of losing your home – the mental toll is significant too, with stress, anxiety, and depression often following financial worries,” she added.

PropTrack figures show that in September 2025, Greater Melbourne’s median weekly rent was $570 for both units and houses, compared $550 for houses and $520 for units in September 2023.

“Long-term, it can damage your credit score, limit future borrowing options and delay achieving your financial goals.”

Understanding these impacts could help people take proactive steps to manage financial stress before it spiralled, she added.

Ms Barton’s 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.

“Even if you’re just starting to feel the pinch, it’s worth reaching out, a plan makes all the difference,” she said.

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.

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.

“For renters, review your budget closely and see if there’s room to save elsewhere or negotiate with your landlord,” Ms Barton said.

“In both cases, don’t try to go it alone. There’s help out there.”

Her other recommendations include writing down what money is coming in and what’s going out, including “what’s not working”.

“At MyBudget, we see every day how powerful it can be to simply know where your money’s going,” she said.

“Having a realistic budget and a 12-month plan for your money, gives you a clear picture of what’s possible and where the pressure points are.

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