FFS Not Another Finance Email

FFS not another finance email!

This is the response I got when telling folks I was planning to request the privilege of being allowed in your inbox once per week. 

So I thought it better be helpful, educational and sometimes a little bit entertaining.

Concise and always with a few helpful topics – from finance strategies to latest news on finance/rates/deals and things people are discussing So long as it’s good.

This being the first edition of FFS (Friday Finance Snippets), please forward it to friends who might like it. 

Reply and let me know if you have suggestions on what you’d like to hear about. 

Thank you,


PS. Loan applications get personal so I figured I should be getting personal with you. So first up, I thought I’d share this one from the archives along with a couple of other things of interest. Hope you enjoy it… 

Why I hated myself 

(my most popular email ever – from the archives)


Salespeople piss me off…

No different than big corporations, spinning bullshit half-truths and lies all the time.

The “wealth creation” sector is one of the worst (financial services, property sales, etc etc).

Sometimes it seems like the major financial services companies exist only to transfer wealth from us to them…

I’ve wasted big bucks on crappy managed funds by major investment banks (and others), and it led me to Tony Robbins book, Unshakeable (which is a shortened down version of his big book Money, Master the Game – written out of disgust of what went down in the GFC)…

Please read it.

If you do nothing else this year for your financial future, just read that book.

And listen to Tony talk on a few podcasts. He’s really genuine, and super-well researched…

Did I just bag my industry and say a naughty word?

… a wise man once said “you can’t take back the word once spoken”.

He’s right.

Someone told me I should never use language like that on my emails.

Somebody will surely get OFFENDED.

But I came across this funny clip by an Australian comedian, Steve Hughes: https://youtu.be/fHMoDt3nSHs

… and stumbled on the quote “those who are easily offended, should be offended more often”.

I agree.

Someone else also told me that I’m a salesperson, and I’m part of the wealth creation sector…

I thought to myself, “that’s why I hate myself”.

There’s so much pretending in sales.

Fake smiles.

I hated….

Read the rest of this over here.

Articles and other things I thought you’d like because you’re interested in some things sometimes…

Former RBA Governor’s interest rate and mortgage cliff warnings.  

If you’re interested in interest rates read this conversation with Ian MacFarlane.

This week I noticed the big banks might be sneakily planning to steal more of your cash… 

Some of the major banks have started to increase rates for new customers.  This is done by decreasing the discount offered for new loans.  Typically the majors also resist offering their existing customers the same low rates they offer to new customers.

This naturally equates (in my mind) to the result that rates offered to existing customers will also be increasing.  This probably won’t be in the form of “big bank increases their interest rates”, but will be in the form of “sorry this is the best rate we can offer you”.

 I think this is probably because they know a lot of people are unable to refinance after all the rate rises, so they’re gearing up to grow their margins (and profit).  Will talk more about this in future episodes of FFS. 

Here’s a video I created to show you an example of you should compare your loan’s interest rate, the compounding interest the banks earn off you is really surprising.


Cashback for refinancing is disappearing  

Only ANZ from the big 4 banks is yet to announce an end to cashback for refinancing, although we are expecting them to come to the big-bank profit party sometime soon.  You might only have a month or two to get a $3-4000 cashback for refinancing.  But likely a few banks will linger longer than that.

Important economic announcements this week

  • Dwelling prices increased 1.4% last month (higher than forecast)
  • Building approvals were down 8.1% last month (down significantly from the forecast)
  • Inflation at 6.8% for the year (down slightly from the previous month but not as low as forecast)
  • Commodity prices up 22.2% for the last year
  • Home loans are down 3.8% this month
  • Investment loans are down 0.9% this month
What does all this mean for interest rates and property values?  Well, it’s complex.  Clearly some mixed messages in here for the RBA to make a call on next week.  Experts are split on what the RBA will do, I’m leaning toward an increase.  We’ll find out on Tuesday.

Above figures courtesy of investor.com

Useless Finance Stat 

In 1980 the Zimbabwe dollar ($Z) had a similar value to the USD.  So if you had a trillion $Z in 1980, you had about 10x the GDP of Australia at that time.  A lot of money… Fast forward a few decades and the Zimbabweans issued a 100 Trillion Dollar Note, which I think would have bought a cheeseburger in Australia at the time.  

Imagine if you were the richest man in the world in 1980 with a trillion $Z and decided to move to Zimbabwe, went bush hanging out with the hippo’s for a few decades.  When you finally came back out, all you could buy with your trillion $Z was a dirty old cheeseburger. 

Our government is far from perfect (don’t get me started) but at least we are not stuck with the sort of people and policy that results in that. 

How to Pay Off Your Home Loan Faster

This is an ongoing topic with lots of variations to how you can reduce debt faster, so I’ll be including all our best stuff so that eventually you might find something that resonates with you. This will include many different debt reduction strategies we help our clients with and how to create a Personal Finance Strategy that worked for me and resulted in massive savings.

Next week

  • Why I’m pissed about all the interest rate rises 
  • RBA Interest Rate Announcement 
  • What I think will happen with rates over the next few years 

Other Topics Coming Soon

  • Business owners accessing 100% of property value without higher interest rate loadings
  • Compare maximum borrowing power – one bank $100K, another bank $1.5M, exact same financial data
  • Other interesting news/information about future of interest rates.

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