This is a question every homeowner is faced with sooner or later. Your lender will offer (or try to sell you) a fixed or a floating rate mortgage and you will have to make a decision, a decision which might impact you for decades. As a friend of mine just asked me how to think in this exact situation, I decided to share my response to him with you guys […]
WEALTH
Need a deposit to secure a mortgage?
This is based on a conversation I had with a friend the other day which got me thinking…
Many of us are considering moving to a bigger (or just more expensive) place but the challenge is often having money for the deposit to secure a mortgage. So should one be saving up to buy a more expensive property at a later stage?
Spontaneously it makes perfect sense as you are likely to need a higher deposit to be able to buy a larger home but let’s take a look at a few different examples together and see if the initial reasoning is always correct?
Be an owner, not just a consumer – ditching FOMO/FOPO!
Becoming and owner and not just a consumer can serve you for live. Being a consumer only can keep you in chains for life, the choice is yours so ditch FOMO/FOPO and start living life on your terms. In this post we go through how you can take this journey too!
How the rich think about a big purchase
There is a significant difference between how the rich and other people look at big purchases. They use a completely different mindset when they approach a big purchase and that is one of the reason they are rich and most likely always will be!
A person with a poor money mindset will automatically say to themselves “I can not afford that” but the rich, have a completely different way of thinking. They might have the money to pay cash BUT they want to keep their financial flexibility…why not making a purchase in to an investment instead?
Why you should check your savings accounts every year!
Checking your savings accounts every year is key to making sure you are getting the best interest rate! It doesn’t matter how much or how little you have at the moment, you should always make sure you have your money working for you (generating income). Remember that the compounding effect is the 8th wonder of the world according to Albert Einstein. This is how you create this little habit…
