This is a YouTube video titled "Crown Money Management Today Tonight" featuring a report by Clare Brady from July 31, 2015. The content includes multiple speakers discussing financial management strategies during economic hardship, with Scott Parry, a finance broker and owner of Crown Lending, providing expert advice on budgeting, reducing impulse buys, and improving mortgage repayment. The video focuses on practical money-saving tips for Australian families.
Welcome back. With prices of everything going up, more Australian families are tightening their belts. You're about to meet a couple which is really driving its dollar further. Clare Brady reports. This very frugal family says anyone can save hundreds every month off their bills.
Is in the grip of an economic meltdown.
Keeping it simple is the whole secret to this.
Scott Perry is a finance broker and owner of Crown Lending.
We always perform better as humans when we've got some accountability and self discipline built in. And so we just find that if you go to the gym, you're going to get better results if you've got a personal trainer and we just apply those same philosophies to people's money.
For a decade he's been crunching people's bills. So from an expert, here's a few tips. Start a cash diet.
That means get rid of the credit card because we as humans will spend whatever we have direct access to. So with that, if we go to a cash based system, a Visa debit card is perfect.
Reduce impulse buys.
Reducing the impulse buyers is critical. These days. We're at such an instant gratification culture. Where we want it now, we'll worry about paying for it later because in 24 months or 48 months, things will be different. The reality is they very rarely are.
Get a personal financial trainer to report to and keep you in line. Make your money work for you and look for the best loan, not necessarily the cheapest.
By reversing the flow of money, we're finding that clients mortgages are paid off in closer to 14 years, as opposed to 30 years. Hundreds of thousands of dollars worth of interest saved, which means they usually go from owning their own house in 30 years to owning their house and an investment property in that same period of time.
