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All This Talk About Interest Rates

Alright fellow Jedis,

Now is the time to ignore the unimportant and focus on the things within your control.

Don’t allow your mates, the press, and every other android who is panicking about rate rises, negatively affect your outlook, positivity, plan or your focus thereon. 

Don’t let the non-Jedis to play mind tricks on you. 

The RBA raised their rate to 0.35%. So what? 

Five short years ago it was 1.5% which is about 4.3 times where we are now.

What was happening then? Everything was just fine, thank you very much.

Rates haven’t risen since 2010.

Look, you and I can’t control what someone else might do, even your kids half the time, let alone the economy, here or globally. 

Your job is to make sure your plan encompasses contingencies and ‘what if’s’ for the things out of your control. Whilst focussing on the things that are within your control. 

Here’s a start to your checklist:

  • Have I reviewed all of my loans in the last 12 months?
  • If I’m not happy with the retail rates I’m paying, have I made a call or done anything about it? (Like, speak to Professional Mortgage Brokers like Us)
  • Have I increased the rental rate on my investment props in line with inflation? Each year?
  • Where are the other leaks?
  • Why do I still have a credit card balance? What am I going to do about it?
  • How and where can I improve my spending habits and discipline?
  • Have I reviewed my budget recently? (don’t you have one? that’s dumb)
  • Are my goals actually just dreams because I don’t have a plan that I’m executing and tracking?
  • What have I invested in recently and how can I invest more?
  • What about the other things I need to focus on to mitigate inflation and rising borrowing costs?
  • Why do I always say “yes” to things which involve money going from my pocket into someone else’s?

If you want to talk to me about how my Mortgage Brokers in Fremantle and other professional contacts can help you, request a call with me here. 

May the Force be with you,
Brodie Brown