If you’re like me you’ve deleted about 100 emails with Merry Christmas as the subject line, so you don’t need me dribbling on about wishing you a Merry Christmas and a safe new year. You already know I care, don’t you?
What I will share, in a couple minutes, if you can spare me that, is this.
2020 is done. Can I get an Amen?
Some of us have had a great year, others not so great. In 2020 there was a lot of focus on our health (mental & physical), our finances (job losses, property prices, record low rates, share market highs), politics (even Aussies cared about the US election) and the new work from home movement.
But the overwhelming thing we can agree on is that 2020 is over. It’s not coming back.
Upon reflection how does that make you feel?
Are you proud of where you finished the year? Or are you regretful?
You can’t change it any more. You can only improve upon your result from here.
If I’m being honest with you (such is my M.O) the only thing I regret this year is being home every single day but not being present. Can you relate?
So, my present this year to my family (apart from the epically wrapped gifts under our tree) is simple. My present is to be present, from December 24th right up until January 12th when I return and then build some great foundations and balance in my life to ensure that it continues.
Don’t get me wrong, my family life is not falling apart but I am just feeling like it needs some renewed focus. A boost if you will.
Maybe you can relate. Maybe not.
Now what’s this got to do with home loans?
Well, more than you think. The reason most of us even get out of bed to go to work is to earn money, to exchange that money for things and the most expensive thing we spend our money on is (usually) a house in which to live. If we want to spend more time with our family or doing other things with our time then we probably need to become more efficient with our income earning potential (earn more for same hours/effort) or we need to lower our housing costs.
So, how much is enough house? Now, I’m not advocating selling up everything and living in a shipping container but I am advocating making sure that you are getting the best bang for your buck on the place in which you live.
Here’s some ideas (Merry Christmas):
1) If you’re going to have a mortgage, make sure that you’re on a great deal.
Why pay the banks more than you have to? A higher interest rate means extra cash to a bank and potentially years more that you will have to work (time away from family and friends) than you need to!
With historical low rates at the moment, you need to chat to us about your current deal, especially if it’s been a few years since you reviewed it!
Note: we just saved someone $15,000 a year (not a typo) on his home loan/s AND he had a “private banker” before coming to us… It took me 20mins. TOTAL.
2) Review your bills over the Christmas break. I’ll even make it easy for you…
Check out our new service called Fidget Connect Bill Review (link here). A saving of $200 per month on your bills, redirected onto your $500k mortgage will save you
4 YEARS OFF YOUR HOME LOAN (again not a typo)
3) Move. OK OK. Don’t hate on me, you don’t have to do this. But consider this…
You can either:
a. Move to a place that’s in a major regional centre (hello Geelong) and save $200k. Same size house, arguably similar or better lifestyle;
b. If you’re renting, rent something cheaper and redirect the difference into something that is going to improve your asset/financial position;
c. Buy something with less wasted space. I know there is stamp duty, sales commissions etc but who says you have to sell? You might be able to afford both!
With crazy low rates right now you might find that rent actually covers your interest bill anyway AND you might have enough equity to not even need a deposit
So many ideas, so little time huh?
Enjoy your Christmas everyone, come back better than ever in 2021 and let me know if we can help in any way (when I’m back on the 13th of course).
Well, that’s it for me for 2020. Signing off. Ho ho ho and all that
Lee
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