Category: Wealth Tips

A take away coffee’s just a coffee right? Spending $3.50 to $4.00 a day on your favourite caffeine blend isn’t really a luxury is it? Well, take a look at this…

A recent article I was reading by Mortgage Choice provided tips on how to pay off your mortgage sooner. It included a range of important information from budget setting to reviewing your home loan. One example explained that by reducing your weekday coffee spend from $4 a day to $4 every second day adds up to a saving of $40 a month… and if you put that saving onto your mortgage you could take 2 years off your loan and $31,000 off your interest bill*.

The article took me back as it was actions like these that allowed me to save up a deposit to purchase my first property much faster than I otherwise would have. When I set the goal I saved for more than 6 years and worked two jobs most of that period before I bought my first property at 24, which by the way I still own.

If you’re paying off a home or investment property loan or saving for a deposit to buy your first, second or even third property, it’s often not the big but several little changes and saving habits that will make a big difference over time.

So the next time you grab a coffee and have a break, take a moment to think about your financial goals… and the little things that will help you achieve them.

*Figures based on a home loan of $300,000 at 7% over 30 years. For more information go to MortgageChoice.

https://www.epspropertysearch.com.au/go/eps/blog/do-the-little-things-really-matter

After the SVB and Credit Suisse crisis a bail-in, which is where the banks take their depositors’ money to save themselves in a collapse, is still possible in Australia.

I call on the government to categorically rule out a bail-in and properly fund the bank guarantee scheme.

Transcript

As a servant to the many amazing people who make up our one Queensland community I note that in the last few weeks we have seen with the failure of Silvergate Bank and Silicon Valley Bank what is in aggregate the largest banking collapse in US history. Australia is not America and it is not Europe. If everyone keeps their heads, we will be fine. Our big four banks are bastards, yet they are well capitalised. Nonetheless, it would be wrong to not take this opportunity to revisit how to save a failing bank.

I remind you that there are two choices: bailing out, with a large injection of taxpayer money, increasing debt for everyone, or bailing in, which is where the banks take their depositors’ money to save themselves. A bail-in still requires the bank to close for days or weeks, preventing customers accessing any money left in their accounts. Business are left without money to pay staff or suppliers. The effect on the economy is catastrophic.

Everyday Australians trying to pay for their shopping would find their account empty or their card suspended. Travellers may be stranded.

One Nation introduced a bill to prevent bank bail-ins and to protect the people. Labor and the Liberal-Nationals defeated our bill in 2020. One Nation did lead a successful campaign against the cash ban bill that the Liberals, Nationals and Labor proposed in 2021, so Australians can still use cash in an emergency. This is relevant again because President Biden initially chose to seize half of Silicon Valley Bank depositors’ funds and freeze the rest for up to three years. That’s a bail-in. What followed was a run on all banks, forcing the president to backflip and instead initiate a bailout.

Australia has a bank guarantee scheme, a bailout, but it’s a con trick. There’s no funding and no requirement to use it. It covers only $20 billion per bank—$80 billion total. This is supposed to protect $1 trillion in depositors’ funds. It’s eight per cent. I call on the government to categorically rule out a bail-in and properly fund the bank guarantee scheme.

https://www.malcolmrobertsqld.com.au/svb-collapse-credit-suisse-australian-bank-bail-in/

Ken explains the lynch pin that holds the system in place. And since the current system in ready to implode, best we come up with a better alternative to their proposed replacement, the CBDC. Most people think that CBDC stands for Central Bank Digital Currency but it really stands for Coerce, Block, Diabolical Control. For that’s their plan.

Coerce you into doing what they want
Block you from doing what they do not allow until they accomplish
Diabolical Control over all of us.

https://rumble.com/vtswlq-1-thing-that-would-set-the-whole-world-free-ken-okeefe-mirrored.html

Here’s what we’ve learned from the latest report – and some advice on what to look out for in the year ahead.

https://nexusnewsfeed.com/article/science-futures/australians-lost-more-than-3-billion-to-scammers-in-2022-here-are-five-emerging-scams-to-look-out-for/

There is no possible way to spin “the steepest decline in lending on record” to make it sound good.

Our economy runs on mortgages, auto loans and credit cards, and so a dramatic reduction in lending will inevitably lead to a dramatic reduction in economic activity.

A lot of people are comparing this new crisis to what we went through in 2008 and 2009, because that is the only downturn in recent memory that is comparable.

Unfortunately, I am entirely convinced that this new crisis will eventually greatly surpass what we experienced during the Great Recession.

So I would encourage you to do whatever you need to do to get ready for harsh economic times, because what is ahead is not going to be pleasant for any of us.

https://www.zerohedge.com/personal-finance/i-had-find-out-if-was-true