In our latest Q&A episode, we dive deep into the intricate mechanics of interest-only loans, we unveil some of the strategies for managing mortgage stress, and we also unlock the hidden gems of building financial muscle memory.
Get ready to unlock a wealth of knowledge and practical insights as we explore the art of budgeting, saving, and setting goals. Discover the power of delayed gratification and learn how it can shape your financial future.
In this episode, we address the burning questions that have been on your mind.
We leave no stone unturned as we demystify these key themes:
- The complexities of interest-only loans, shedding light on their benefits and considerations
- We explore the nuances of repayment options
- Interest rates, and the potential long-term impact of interest-only loans on your financial journey
We also navigate the realm of mortgage stress and unpack how to establish a realistic budget to prioritising savings!
But wait, there’s more! Prepare to unleash the ultimate weapon: financial muscle memory. Discover how small, consistent actions can lead to significant financial gains over time. We delve into the psychology of decision-making, empowering you to seize control, make savvy choices, and skyrocket your financial well-being.
Don’t miss out on our latest Q&A episode folks!! Tune in now or watch the episode below
Here’s some of the gold we cover…
- 4:28 – Mindset Minute
- 12:35 – Question #1
- 15:50 – Not everyone will buy new!
- 16:40 – Investing in new vs living in new
- 19:23 – The optimal outcome
- 20:35 – Basics of Land to asset ratio can be aspirational
- 24:40 – We are not fully rusted!!
- 26:45 – Question #2
- 28:50 – Interest Only mechanics
- 30:00 – Will the banks allow IO loans?
- 30:25 – How it affects loan term
- 31:35 – Interest only lending the whole time
- 33:20 – Filling offset buckets is the key
- 34:50 – What happens if you refinance to another lender?
- 35:50 – Higher interest rate currently
- 37:25 – Question #3
- 39:40 – Building muscle memory
- 41:35 – More surplus to make decisions
- 42:30 – Upside gains
- 43:00 – Informed decisions
- 43:30 – Mortgage stress – Refer to previous episode around Ep 444 – How to tackle mortgage stress
- 43:45 – Question #4
- 47:00 – Teaching them to fish
- 47:50 – The value of money
- 50:40 – Budgeting and saving
- 51:25 – Try and make it fun
- 56:50 – Financial Literacy
- 59:00 – Love is spelt T.I.M.E
- 59:20 – Life Hack (from Ben 😊)
- 1:02:20 – What’s Making Property News
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