Everyone wants to shortcut the time it takes to save for a home loan, but some shortcuts are more dangerous than others and can risk your ability to secure a loan. Here we’ll alert you to some of the bad practices that can cost, rather than save, time and money.
1. Don’t use a personal loan to cover your home loan deposit
Most weekends when hanging out with my friends I regularly overhear them griping about how they never seem to have enough money.
So, I actually decided to ask one of my friends what he thought would be the solution to his never ending problem of 'insufficient funds'. He (just like 95% of the people who I ask) responded that if only he ...
How to: New Year's Resolution
Isn’t the Christmas holiday season just the BEST! Balmy summer nights spent overindulging in food, wine, festivities and fun.
“Avocado is extra? Oh go on!”
“$20 cocktails!? Treat yoself!”
Yes, denial was lovely - we’ll give you a moment to reminisce.
NOW, snap back to reality and we’re out the other side. You’re back at work, trying to hide the ...
What is the number one reason you can’t save money? You spend it!
It’s hard not to, everyone wants a piece of it.
“We’re just going out to eat!”
“It only costs $15!”
“You don’t want to miss out!”
You want to say: “NO YOU DUMMY, I’M SAVING MY MONEY!” But you don’t. Because you’re nice, and you suffer from severe FOMO (it's okay, ...
According to a recent study by Roy Morgan Research, around 60% of Australians dislike Christmas shopping, only 20% plan their spending and nearly 75% often come home from a Christmas shop without a single purchase!
How to avoid the Christmas Budget Blow Out
We’ve all done it. In fact, I’d say the majority of us probably do it every year!
You leave your Christmas planning ...
Accidents and emergencies happen to everyone, and many times they happen when we aren’t prepared financially to handle them. In those moments those ‘problems’ can quickly go from a bad to situation to a BIG problem!
The emergency fund is a reserve of three to six months of expenses that you set aside to cover any sudden costs such as a car break down, ...
There is nothing inherently wrong with debt. If used correctly, debt can be a signficant tool to secure assets which can grow a future wealth base and a cashflow income. Carefully used debt, which is reasonably affordable for you to support on your income to acquire growth or income assets, has long been an accepted way to become wealthy over time.
Sadly though, few people have a clear ...
Over the past 13 years I’ve helped thousands of people improve their financial position. Along the way I’ve discovered what the key is to you being able to retire early and financially secure.
It is NOT how much you invest or what percentage return you get on your investment that determines how quickly you can retire and become financially secure. The most important factor of all ...
1. Focus on what you have, not what you don’t have.
2. Recognise that every dollar you save today and every dollar of debt you pay off today, is an important step to the future you deserve. As long as you are moving in the right direction, and making progress financially you are in control of your future. Be patient. You will ...
Over the years we have picked up quite a few things on how we as human beings simply waste money in so many ways.
With so much uncertainty with what lays ahead in the future that is out of our control why not control what is in fact completely in our control? Yet so many of us simply don't get around to it ...