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"Many thanks to the Team at Finance and Mortgage Solutions which helped me to secure my bank loan without any fuss."
#savings #Investment #Inspiration #Motivation #Planning
Maybe you don’t want “regular commitment.” Plan a weekly outing to look forward to. Visit a museum or a shop you have passed but have never gone into. Get your nails done. Do this with friends or go solo. Plan one outing and resist others, thus saving money.
Possibly you are at a stage in life where none of these work well for you. Perhaps you have children at home or an elderly parent who needs you most In this case, Get a little creative. Try genealogy or blogging. Set some personal goals. Resolve to read a certain number of books each month, for instance. If you like to cook, try a new recipe every week.
Most of all, be kind and gentle with yourself as you decide how you want to make changes. No need to rush. Making the decision to make a change is in itself a big step. Once you know you want something fresh in your life, you may be surprised at how many opportunities seem to come your way. Keep an open mind and enjoy the exploration as you re-energize your life!
For advice on how to save and for goals to better financial health, call Madhu 0425341086 or email at loans@financeandmortgage.com.au.
Let's imagine there are two guys - Let's call them John & Bill.
John has a plan that says that at the age of 55, he will accumulate enough ASSETS (net of debt) to produce an annual income of $70,000 so that the money never runs out & keeps up with the rising cost of living. #Money #Business #Savings #Investments #Retirement #CostofLiving #Bills
To achieve this objective, John only needs an annualized return of 8% on his investments.
Bill on the other hand, has NO PLAN. He has a random "investment" that supposedly generates a 300% return in a haphazard way. Due to Bills unplanned & sporadic approach to his future, Bill runs out of money at the age of 71.
'Does it matter if John only gets a 8% return?'
Moral of the story: in the world of money the best question is NOT how much return can I get?
Rather, the best question is what do I need to do to have enough money each year, so my money never runs out & keeps up with the cost of living.
- Ron Malhotra
Call Madhu on 0425 341 086 for financial advice tailor made to suit you. Read more related topics on our Facebook page or read other related blogs here.
Container home
As a home owner one of your main considerations will be initial and ongoing maintainance costs. A new trend to consider is a container home. #HomeBuyer #FirstHome #Homeconstruction #GrannyFlat #HomeLoan #Containerhome #innovation
These homes are made from old shipping containers which are then modified to fit the size requirements of the home owners. They can be used as building blocks for homes, granny flats, shops or offices. The containers are like giant Lego blocks that can be built into anything at all.
They are cost effective, quick to build and tolerate harsh weather well (imagine transporting goods on cargo ships and being handled by cranes and trucks for years). These homes are eye catching and talking points and you sure to be the star.
So, consider this new trend while looking into your next home be it an investment or one you are planning to live in. Call Madhu on 0425 341 086 to explore the best finance option for you. Read more on our Facebook Page or on LinkedIn.
Savings Tips
Most people carry a lot of debt and very little savings. The goal is just the opposite: You should save 15% of your pretax income via super contribution, and an additional 20%–25% of your after tax income. #savings#investment#coffee#homeloan#budget The key is to make a budget and stick to it.
I have a always lived on a strict budget 50% of my after tax income goes to my mandatory household bills: Mortgage, car payment, utilities, etc. I then try to save on the things I buy consistently like petrol, groceries, household stuff, and major purchases and investing that money.
For example, by not spending $10 a day for lunch or overpriced coffees you’ll save $200 a month. At the end of 12 months, you’ll have $2,400. If you save an additional $50 every month, you’ll end up with $3,000. Big deal right? Not impressed? Imagine you are a making a higher level of income, and multiple your savings amount by 10 to $2,500 a month. That’s a $70,000 difference! Imagine that. That can be the deposit on your new home.
Call me on 0425 341 086 to discuss your investments and home loan. Read similar articles on Facebook.
Do you constantly overspend? You personality might be controlling your purse…
Did you know that each letter of your Myers-Briggs type could affect your finance? #Investment #Personality #introvert #extrovert #Planning#shopping
Extroversion vs. Introversion
The E-I preference pair deals with the way people source their energy. Extroverts may be prone to overspending on social activities like annual getaways with friends or work happy hours. Introverts on the other hand, may spend too much time alone pondering a big money decision, arming themselves with loads of information but not seeking potentially useful outside input.
Sensing vs. Intuition
The two middle letters that make up your MBTI personality type shed light on (1) how you absorb information and (2) how you make decisions or come to conclusions. Sensing is about taking in information in a very specific, step-by-step, sequential way. People who show a preference for Intuition prefer the big-picture information. People with extroversion and sensing preferences might not consider what’s coming around the corner so it’s important that they consider how their present decisions could affect long-term goals.
Thinking vs. Feeling
Thinking people make a pros-and-cons list. Those with a feeling approach, however, give weight to how their choices will affect those close to them.
Judging vs. Perceiving
The J-P preference pair captures the way you organize your world. People who fall under the judging could be a bit too hasty when it comes to making money moves because they just want to experience the “joy of closure. Perceiving people they tend to drag their feet because they desire casualness and flexibility. Which means that they may wait too long to make those important financial decisions.
Energy bills have been on the rise and are likely to keep increasing.
Energy bills are a big part of the monthly household budget and recent price rises have added to these costs.#budget #SavinCleanenergy #greenenergy#energy
From using the clothes line instead of a dryer to using solar panels there are plenty of options to stay within your household budget.
The good news is that there are lower price plans in the market and you can save money by switching, especially if you have been on the same plan for a while. So read your current bill carefully and make the necessary changes.
Read more on our Facebook page or at https://www.energymadeeasy.gov.au/tips-switch.
I actively recruit women to join our team though my business operates in the male dominated finance and mortgage industry. Learning to work more effectively and in an environment which is supportive is more important than working 9:00-17:00. As women and family makers we need to work less hours, be productive and need to keep our energy levels. We need to enjoy the small daily pleasures like sitting down to enjoy a chat with the family at the dinner table not completely exhausted. #MortgageBroker#HomeLoan #Broker
I find that incorporating cultural diversity into my workplace delivers immediate advantages and long-term benefits. Employee diversity greatly increases our ability to rise above the competition. We speak 8 Indian languages apart from English in our office. Taking on a home loan is a huge responsibility and our personalized touch goes a long way in making our clients feel secure.
We encourage self-starters, disciplined and motivated individuals from a Non finance background. Contact us to see what we can offer to people who are optimistic and are constantly learning and applying. Read more on LinkedIn or email your resume to loans@financeandmortgage.com.au to join our team as a business partner, Mortgage broker, Financial Planner and more.
Housing affordability across the country improved in the March quarter of 2017 as the proportion of income required to make loan repayments decreased by 1.3 per cent to 30.4 per cent. #RentvsBuy #HousingAffordability #StampDutyWaiver #FirstHomeBuyer
The number of first home buyers across the country decreased by 11.2 per cent to 20,677 while the average first home buyer loan size fell by 0.4 per cent year-on-year and 3.2 per cent over the March quarter to $313,433. This data was published in the latest Adelaide Bank/Real Estate Institute of Australia (REIA) Housing Affordability report.
Rental affordability across the country also dropped as the proportion of income required to meet rent payments increased by 0.1 per cent to 24.6 per cent. This number, however, represents an improvement of 50 basis points from 25.1 per cent of family income in March 2016.
March data shows that buying a home is the way to go. The announcement of Stamp Duty waiver in NSW has also caused innumerable ripples with more first home buyer considering established homes in Sydney that was previously unaffordable.
Talk to Madhu on 0425 341 086 to discuss your buying options and to understand the Stamp Duty waiver.
This is a must read for you this tax season. Most planning strategies are about accelerating deductions and deferring income in accordance to legislation. Here are the first 3 important factors. #TaxPlanning #Tax #SmallBusiness
Reduction in Tax Rates – From from 1 July 2016, Small Business Company’s tax rate has reduced to 27.5%. If you operate your business outside the company structure you will be eligible for the Small Business Tax Offset which is 8% of your small business tax liability capped at $1,000.
Small Business Capital Allowance – Immediate deduction is available for business assets purchased which cost less than $20,000 till 30 June 2018, the threshold will revert back to $1,000 on 1 July 2018. It is also a good time to review you asset register and write off assets which are obsolete or items which do not physically exist.
Bad debt – We recommend you review and write off any bad debt with necessary minutes and documents. Recoverability should be assessed for any long overdue amounts.
Contact Madhu on 0425 341 086 to discuss your tax planning this tax season.