If you've ever felt a bit adrift in the sea of finances, you're in good company. Whether you're just starting your financial journey or you're still figuring things out as a seasoned professional, managing money isn't a walk in the park. Today we're diving into the often sneaky world of financial red flags that particularly affect those in their twenties and thirties - and more importantly, what you can do to successfully turn things around.We're exploring three major financial traps that can derail your money goals without you even realising it. First up is lifestyle creep - that sneaky trap where your income jumps from $500 to $2,000 a week, and suddenly you're trading homemade lunches for daily bakery stops and upgrading to that shiny new car. Next, we'll tackle the payment pitfall of only paying minimums on debt - imagine a $3,000 credit card bill taking 20 years to clear and costing you double what you borrowed. Finally, we're addressing the financial fog where your money seems to evaporate without explanation, leaving your finances resembling a sieve more than a solid ship.For each red flag, we're providing practical strategies to get back on track. From creating detailed plans for pay rises and setting up automatic transfers, to actively managing debt and tracking every dollar for 30 days, this episode arms you with the tools to spot and tackle these issues head-on. Remember, it's not about feeling shame - it's about building better habits and ensuring your financial future is bright.LinksRecommended book: Barefoot Kids by Scott PapeBook a free 15 minute discovery call with Alissa: https://calendly.com/gtagWant to know more about commercial property? Join our commercial property mailing list here:https://preview.mailerlite.io/preview/145360/emails/143452890515637989Website: https://goldentrianglefinancegroup.com.au/
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How to pay off your house in the next decade!
Let’s be honest—paying off a home loan probably ranks low on the fun scale, especially if you’re among the younger crowd. But bear with me, because this could be life-changing. Today, I’m sharing a strategy that helped my husband and I become mortgage-free before we hit 40.If you’re part of a two-income household, I’ve got a strategy that can really make a difference—using one income to live on and the other solely for your home loan. I’m taking you through the game plan John and I came up with to pay off our mortgage quickly: living off his income, and covering our mortgage payments with mine. While this worked a treat while we were DINKs (double income, no kids!), I share how things got a little tight during maternity leave, and how we dove back into the plan when I returned to work. It really did turn out to be our secret tool to tackling debt head-on.We’ll talk about reframing how you see your money, ensuring your loan allows you to make extra payments and practical tips on using a redraw or offset account to make your loan repayments. Even if a mortgage isn’t in the picture, this strategy can be levied against other debts like car loans or credit cards, so long as extra repayments are allowed. Sticking with this can shave years off repayment periods and pocket you thousands in interest savings.Whether you’re hustling through early careers or balancing part-time gigs with school runs, this approach can be a lifesaver. Here’s hoping the advice proved as powerful for you as it did for us. If you enjoy this episode, consider sharing it with someone who might benefit, or even shooting a topic suggestion my way. I’d love to hear what’s on your mind!Links:Book a free 15 minute discovery call with Alissa: https://calendly.com/gtagWant to know more about commercial property? Join our commercial property mailing list here:https://preview.mailerlite.io/preview/145360/emails/143452890515637989Website: https://goldentrianglefinancegroup.com.au/
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How to Use a Guarantee to Buy a House
If you're a first home buyer feeling overwhelmed by deposit requirements in today's property market, this episode unpacks a potential solution you might not have fully understood - guarantor loans. We're talking about how this financial tool could help accelerate your path to homeownership, even in the current cost of living crisis.We'll explore how a family member can use their property equity (not cash) to help secure your home loan. Using real examples, we'll break down how this works - like turning a $30,000 deposit into a $120,000 one for a $600,000 property, potentially saving you from paying expensive lenders mortgage insurance (LMI).We're also tackling the serious side of guarantor arrangements. From bank requirements and assessment processes to the responsibilities and risks for both borrowers and guarantors, I'll give you a comprehensive understanding of what this commitment means for everyone involved. Plus, we'll discuss how these arrangements can eventually be released once you've built sufficient equity in your property.A security guarantor can be a powerful tool in your home-buying arsenal, but a decision that should be made with careful deliberation and informed consultation with everyone involved. Always engage with a trusted mortgage broker to navigate the options available with different banks, and have comprehensive discussions with your guarantor to ensure they're comfortable with the commitment.LINKSBook a free 15 minute discovery call with Alissa: https://calendly.com/gtagWant to know more about commercial property? Join our commercial property mailing list here:https://preview.mailerlite.io/preview/145360/emails/143452890515637989Website: https://goldentrianglefinancegroup.com.au/
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Weddings, Maccas & Afterpay - what a mix!
Money mistakes - we've all made them, and there’s zero judgement here! But after having several eyebrow raising conversations recently with people about spending habits, I wanted to share my thoughts on some financial decisions that might make you think twice about where your money is going. From small daily purchases to life's biggest celebrations, we're exploring the real impact of our spending choices.From the surprising trend of using buy-now-pay-later services for fast food (yes, people are actually using Afterpay for McDonald's!), to the staggering reality of $250,000 wedding budgets, we're exploring spending habits that deserve a closer look. We’re talking about why the size of your spending doesn't correlate with success or satisfaction, and how to make financial choices that truly align with your long-term wellbeing. Whether you're making daily purchase decisions or planning life's biggest celebrations, this episode will help you question whether your spending brings real value to your life.Key Takeaway:Financial success isn't measured by extravagant spending or keeping up with social expectations. It's about making intentional choices that align with your long-term financial wellbeing. Before making any purchase - whether it's fast food or a wedding venue - ask yourself: Will this matter in a month, a year or a decade?LinksBook a free 15 minute discovery call with Alissa: https://calendly.com/gtagWant to know more about commercial property? Join our commercial property mailing list here:https://preview.mailerlite.io/preview/145360/emails/143452890515637989Website: https://goldentrianglefinancegroup.com.au/
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Borrowing Money? Talk to a Mortgage Broker First (Not the Bank)
In the last quarter, nearly 8 out of 10 Australian home buyers chose to work with mortgage brokers rather than going directly to banks - and for good reason. Today, we're exploring the role of mortgage brokers, debunking common misconceptions about the home loan process and revealing why mortgage brokers can help you secure more options and better terms for your property purchase or upgrade. Plus, we'll discuss the industry regulations mortgage brokers abide by that protect you as a borrower.Whether you're a first-time buyer, looking to upgrade or simply curious about your options, this episode will equip you with essential knowledge about the modern approach to home lending that most Australians are now choosing.Key Takeaways:76% of Aussies are choosing mortgage brokers over direct bank visitsBrokers give you access to multiple lenders and loan optionsThey're legally required to act in your best interestService is usually free for borrowersLinksBook a free 15 minute discovery call with Alissa: https://calendly.com/gtagWant to know more about commercial property? Join our commercial property mailing list here:https://preview.mailerlite.io/preview/145360/emails/143452890515637989Website: https://goldentrianglefinancegroup.com.au/
Money can often feel like a mysterious, taboo subject that we're reluctant to discuss with our friends and family. It's often seen as rude or unsavoury to talk about finances openly, but I'm here to change that narrative. Money doesn't have to be complicated, though it's not necessarily easy either. It all comes down to making those small, consistent steps that can shape your financial future.
With over 20 years in finance, five years as a mortgage broker, and running my own finance and mortgage broking business for the last three years, I have the qualifications and passion for sharing my knowledge with you. Through my work, I've witnessed firsthand the challenges many families face when it comes to managing money. Some have been taught well, while others just need a few tweaks to change the trajectory of their lives. And then there are those recovering from costly financial mistakes.
In "Teach Me Money," we'll break down the how, why, and what next of money management in a straightforward way. I'll tackle your toughest questions, debunk common myths, and most importantly, offer actionable tips to help you get ahead. Whether it's making your money a non-negotiable part of every pay cycle or understanding how to finally buy that property to grow your wealth, I've got your back.
If you're just starting on your financial journey or have already faced some bumps along the way, you're in the right place. Join me every fortnight as I dive into practical tips and share inspiring stories of clients who have successfully navigated this path. Together, we'll make sense of money and craft a plan for your financial success.
Please note, this podcast is for general information purposes only and not financial advice. Always consult with a licensed financial planner before making decisions about your personal finances.
Australia