Hit your home loan for six. Here’s how.
As you see your money drift into your mortgage every fortnight do you knowingly look forward to that glorious final payment, or are you just going through the motions and don’t actually know when that day will come, if ever?
How good would you feel if you knew you had a plan to be mortgage-free by a definite date in the future. Think of how confidently you could approach the plans for your family’s future, knowing everything is taken care of.
Like many hard-working Aussies, your attempt at achieving the Aussie Dream has morphed into a nightmare. What started out as a straightforward and achievable goal, for some unknown reason you can’t quite manage to cross the finish line. You do everything you’re told to by your bank, broker or planner, yet the Dream proves elusive. It’s right there, just out of reach. You don’t know what you’re doing wrong. There must be a problem with the system.
Let’s assume that your intention was to buy your home with the bank’s money with the aim of owning it as soon as soon as possible; you wanted to save a tonne of money in interest and get ahead financially. Perhaps even build a nest egg for your family along the way. When you organised your mortgage or refinanced your existing loan, who gave you the advice on how to pay it off? Who do they work for? Did you choose a proven strategy of your own or did you defer to these so-called experts?
It’s no secret that the banks make billions out of residential loans. That’s their core business. It is firmly in their interest to keep you in debt for as long as possible. A prison warden who gives the inmates the keys and shows them how to escape won’t stay employed for long, will he? Showing you how to get out of debt doesn’t work well for your bank, either.
So, you’ve got a broker or financial planner. Maybe you’ve even got a “guy” who knows some things. I bet you fifty-to-one that they are ultimately being paid by a bank and make their living out of a neat trailing commission, which comes from the outstanding balance on your home loan. It’s not in their interests to give you the strategies to reduce your mortgage ahead of time. In some ways, they’re just as bad as each other. You might find yourself wondering if unbiased and independent money advice exists.
There is almost a complete absence of trustworthy financial education available which leaves the banks and their marketing mega-budgets to cloud the truth behind a thick smokescreen of propaganda. It’s quite easy to understand why the Aussie Dream remains just that. It’s not like we see any banks promoting “how to get out of debt” strategies. In fact, all they do is promote the opposite; easy consumer credit, “cheap” vehicle loans, and mortgages designed around ridiculous loan terms of 30-years.
By shielding the real costs of your mortgage and providing little in the way of achievable planning, the banks keep you – the Average Aussie – in debt for life.
The marketing system employed by Australian banks create such a terrific amount of noise, it’s literally impossible for anyone to think any differently to how the machine wants you to think. You begin to believe there is only one way to pay off your home. You have no other reference points for real help and proper guidance. But it doesn’t have to be like this. It shouldn’t be like this.
You know that math’s teacher that owns their home outright and has a portfolio of investment properties. You know that mechanic who’s investing in his second unit and has a miniscule mortgage. What about that sales rep who’s cleared their mortgage way ahead of time and is enjoying the benefits? You wonder how the hell they managed to get there but are too proud to ask. They earn about the same as you. They live in the same part of Melbourne as you. Heck, your kids might even go to the same school as theirs. If you’re so similar, how on earth can they be in such a stronger and more comfortable financial position? And it’s not like they’re living on the bones or their bum either, because they seem to get away on a family holiday once a year also. What do they know that you don’t?
There are good guys out there who have the answers to your questions and the solutions to your problems. They just have a bloody hard time making enough noise to be heard over the brass band, drums and parade of the big old banking machine. To be fair, the really good guys are few and far between, but they do exist. If you’ve read this far, you’re about to meet them.
Clover Partners – a small firm full of experience is your one-stop financial future shop. With multiple, tried and tested loan-smashing strategies, we could be the only mortgage brokers in Melbourne who want our clients to be mortgage-free and on their way to build a nest egg through property investment. Why would we want to do this, you ask? Well it works better for everyone this way. Think about it. You pay off your home faster. You’re happier so you tell your friends about us and we get more business. They do the same and process continues. You get where you want to go faster and we get to help more people. It’s really very simple.
And remember, the faster you repay your mortgage, the more wealth you create, the more property you can own, the stronger your financial position becomes. It’s not rocket science and neither are our strategies. They’re affordable, easy to understand and within the reach of many people.
Do you want to get off the financial treadmill? Are you just plain tired of spinning your wheels financially? Do something about it. Clover Partners offers a free, no-obligation Reality Check which is the first, easy step to running a magnifying glass over your existing situation. No hard sell, no judging, no flogging you things you don’t want and don’t need. This is just a ‘no BS’ face-up to your situation and if there’s a way we can help (and there are many ways we can!) then we’ll serve up some solutions to get you rolling in clover, sooner.Want more insight? Give us a call on 1300 823 995 or touch base below