A money management approach where you direct your own income, reduce mortgage interest, and control your spending while getting reporting support. You stay in charge of your budget and financial decisions.
Okay, so just a quick explanation on clients who aren't wanting to have the full money management program and the personal trainer. It is something where, as you can appreciate, all people are different. And we feel that if we want to add as much value to the basic community as we possibly can, we can offer a free money management program. So, like, when you go to the gym, you've got a personal trainer there for free. We find that those people who haven't been to the gym before, really been managing their money that well before, really, really benefit from the personal trainer and find that after a year or two, they get their momentum going, they get really, really good money management habits, and they usually then step off and start training by themselves at the gym. So if for whatever reason, you want full control of your money, you want to actually run the money management program yourself, doing all the redraws and making sure that you're staying on top of it week in, week out, there's absolutely no problem with that at all. You certainly can run the money management program yourself. What we do is we do all the reporting, all the data feeds through to you guys, so you know exactly where you're at at the end of each and every month, how you're tracking, what your progress is, what your surplus cash flow position is, what your equity position is. And then from there, we just make sure that you're hitting all the checkpoints along the way. What we also want to do is at the end of each and every year, give you a full financial summary of how the year was, what your average debt reduction was per month, your average income, expenses, and all that sort of stuff. So you can certainly still run it yourself. Just we're going to be in the background still doing all the reporting. So how that would work, would you have the $15,000 income? You get that bank directly into your home loan from your employer, your $425,000 mortgage instantly drops down to $410,000, and you pay interest every single day of every single week on $410,000 rather than on $425,000. It might not sound like a lot, but over a few days, weeks, months, 15, 20 years down, the track adds up to a huge amount of money there. You then decide whatever you need to live off. So whatever that figure is, it could be $1,000 a week, it could be $1,500 a week. You can pick and choose that because you're in full control of this. So every week you decide how much you need to live off, you transfer that across to your Visa debit account. Whatever is in that Visa debit account is there for you to spend for the week. Just blow it. At the end of the week another X amount comes across. All your monthly, quarterly, half yearly and annual expenses are direct debiting out of here. That stuff covering your rates, your birthdays, holidays, Christmas, car registration, anything that is direct debit, we strongly suggest you get direct debit out of here. Like your fox selling your insur and any monthly, quarterly, half yearly or annual expense, you can then have that transferred through a one off payment at your discretion there. So you're in full control of your money. You've got every single dollar you are earning working for you guys rather than working for the bank. Because at the moment you bank into a check or savings account and the money sitting there is only earning you 0.1% interest. 0.1% interest. Whereas with this structure, your income is hitting your home loan account, it's saving you 6% interest and interest saved is interest made. So your income is now earning you 6% net compared to 0.1% net. A huge swing there. And as a result of that, you'll be paying interest daily on 15 grand less. Now, as you're in control of this, you know exactly where you are at the end of each and every month. And all we do is just try and give you some guidance as to reporting and paperwork, etc. Etc. So that's how the system works when you're controlling it. And if there's any other other questions at all, please give me a call. We can certainly go through things and sort them out.
