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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10:13
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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10:07
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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8:46
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/
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11:09
Borrowing money to buy shares - not for the beginners!
Margin loans are both exciting and risky - and definitely not for the fainthearted! While it’s possible you’ve never heard of them, by the end of this episode, you’ll have a clear understanding of what they are and whether they might fit into your financial strategy. What Exactly is a Margin Loan?A margin loan allows you to borrow money for investments, typically in managed funds or the stock market. Essentially, you leverage your existing investments as collateral, which means you can magnify your profits—but equally, your losses. Much like using the equity in your home to buy another property (also known as leverage), margin loans work on the same principle. Here, you might invest $100,000, perhaps from inheritance or a windfall, and take out a margin loan with a 50% loan-to-value ratio. This setup allows a lender to match your investment, totalling $200,000 for stock market ventures. If the market rises, your gains skyrocket. But when the market tumbles, your losses escalate too.Understanding Margin CallsSo what happens when the market decides to do a nosedive? Enter the margin call—a uniquely unsettling consequence of margin lending. Should your investment falter and violate the bank’s loan-to-value ratio limit, you could expect a call informing you to fortify your account within 24 hours, or they might start liquidating your share portfolio. The size of the margin call will hinge on factors like your loan size, investment value and market conditions when you initiated the loan.The Risks and Rewards of Margin LendingWhile margin lending can exponentially boost your potential profits, the risks are real. Unless you've got a fallback strategy to manage abrupt market shifts, your investments might be sold under distressing conditions. That’s why margin lending fits seasoned investors more than novices; those with high-risk tolerance, a diversified portfolio and a plan to handle unexpected margin calls.So, if you’re ready to find out whether a margin loan is suited to your circumstances, make sure to reach out to your financial advisor. Otherwise, feel free to shoot me a message and we can get started on working towards your financial goals together. 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/
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