Hi everyone,
I’d really appreciate some honest advice on my situation.
I’m a 35M living in regional NSW with my wife and our 2 year 9 month old son. I moved to Australia in 2017 and completed a Master’s in Accounting from Macquarie University in 2019.
Since graduating, I’ve struggled to break into accounting mainly due to being on a temporary visa and not having CPA/CA. I’ve done some basic accounting work (Xero, AP/AR, reconciliations, payroll) and even an internship, but couldn’t secure a proper role.
Because of that, I’ve been working in delivery (courier/Uber), and currently working casual roles (security + receptionist).
Over the past few years, we’ve had significant financial pressure:
- Around $8K for my medical surgery
- Around $10K for childbirth expenses
- Currently about $25K in debt
- Still using a rental car due to cash flow limits
My wife is a physiotherapist earning around $80K and recently secured a sponsored job in regional NSW (2-year pathway towards PR), which is a big positive for us. I earn around $45K currently. We manage everything as a combined household (shared income, expenses, and goals).
Right now:
- She works full-time
- I take care of our child and work 4 days/week
- I’ve restarted studying accounting and preparing for my first CPA subject
Our long-term plan is to move to Melbourne in a few years once our situation stabilises.
At the moment, I’m confused about what to prioritise:
Option 1:
Take on night shifts (3 nights/week) to aggressively pay off our $25K debt faster, but delay CPA and accounting career progression.
Option 2:
Focus on passing my first CPA subject and trying to secure my first accounting role, even if debt repayment is slower.
I feel stuck between financial pressure now and building a better long-term career.
I’d really appreciate advice on:
- Which option would you prioritise in my situation?
- What’s the smartest way to balance debt repayment vs career growth?
- Any tips for breaking into accounting in regional Australia?
Thanks a lot for taking the time to read.
CPA vs paying off $25K debt first
byu/Optimal_Formal8350 inpersonalfinance
Posted by Optimal_Formal8350
1 Comment
What the sole reason for not progressing after internship the lack of certification?
I would make sure of that before investing into it, if there isn’t anything else holding you back.
1. I would probably try to join a basic accounting position at a company that offered career progression. Temporarily combining that with Uber/Delivery while I prepare for CPA. So basically what you plan on doing, but with a more solid plan for ROI.
2. Depends on how tight you are financially. Usually, without career growth you can’t break the cycle of debt. So you need to earn more, regardless. But you also cannot acquire more debt. This small, tiny line is your space for investment.
1. Not from Australia, but where I live early career accountants target small business and personal tax fillings, small consulting, while they hope to secure a more lucrative role.