Masterclass: Do you want the cheapest loan OR the cheapest rate?

Foreign.

Welcome to this masterclass. My name's Scott, I am the founder of Crown Money. We're going to be just running through, yeah, as much information as I can possibly give you after 23 years of sitting with over six and a half thousand Australians, finding out what worked for them, what hasn't worked for them, and, and being able to sort of combine all that into a education session like this, where I think you're going to walk away from this, your world's going to be flipped upside down because everything you've told, been told up until now, I'm going to get you to look at it from a different perspective with a different lens. And that's what really today's about, is showing you what no one else has been telling you and the reasons why they haven't been telling you this. Because everybody is obviously wanting to pay the house faster. The big question for that is why aren't people helping you pay household faster? Why 60% of Australians retiring with a mortgage. And as we go through tonight, you're going to start to see, oh, this makes a lot of sense. So I, I'm going to just run through things as I go through them, jump out into the chat. I'll be able to help answer any questions you've got. But from where we sit, what I'm about to go through is proof we've done it for 23 years. Every 28 days I sit with a client and say, you paid your house off today. There's no one else in Australia who can say that. Our average client pays about 28,000 off the principal. The average Australian, you are probably paying around about 8,000 a year to 10,000 year off your principal. You would have just seen those videos there of clients paying 8,000amonth off their principal. And so this is normal for us and our clients. We just have designed loan structures and strategies with plans to pay your house off. Average client does in 12 years. So we're going to run through how that works and more importantly, how you can actually look to see what your numbers look like. And so we'll give you an opportunity at the very, very end to run through all that and answer whatever question you have. But in the meantime, I'm just going to run through what we found has worked really well, why it's worked really well and more importantly, if there's anything that you could be doing differently, we're going to tell you what that should be, because from our perspective, you've been told to get a cheaper rate, pay every fortnight or week and maybe get an offset account as well. And if you're already on an offset account with a cheap rate, which most of you are, you're probably looking around going, this, is this it? Because it's not working for most Australians is what we're finding. So as we go, I'm going to call up people to just sort of jump in, give their 5 cents and ideally tell us a little bit more about their situation. We've got some existing clients who are going to join us. Those existing clients have been exactly where you are. They have sat there skeptical. Why isn't everyone doing this? Why haven't I heard of this before? So everything you're thinking right now, they have already been there. So I also have my wingman, Matt Ryder is in the house. He's going to be helping conduct the ceremony tonight. And anything that you've got, he'll be controlling the chat and making sure that we've got as many people involved as possible. There's not going to be a lecture. It's going to be as interactive as we possibly can make it. So just make some noise in the chat. Any questions? Matt will be sort of driving that there as well.

Hey, team, how are you?

Not as good as you, mate. Not as good as you. Welcome to the party.

Yeah, sorry I'm a few minutes late. My, my 6 year old decided it was not time to start. So. All good? How is everyone?

Awesome.

All right, good stuff. All right, well, welcome today, guys. Like, you know, Scotty probably gave you a little bit of rundown what we're going to be going over today, but today is really about kind of just kind of understanding what you guys are looking for and then I guess introducing you to a potentially different way of looking at how home loans are structured, but also like how the banks are thinking about things. And listen, I'm incredibly grateful for the banks. I wouldn't be living in my house if it wasn't for a bank. Okay? So. But you know, there's a reason why the CEO of Combat got paid, you know, $10.34 million, whatever it was last year. And it's not because they're doing things in the nicest possible way. It's because they're doing things the most profitable way. And so what we're going to do is just try and explain a few things. And, you know, I just want to say, you know, well done for being here because it is a night time and a lot of guys are just kind of palming this off, you know, and just rate hunting like everybody else is. But you know, I think the average person refinances. What does this got every, every, every three years or so.

Every 3.9 years.

Yeah, exactly. And so, you know, a 30 year mortgage refinanced every 3.9 years ends up being an awful long time by the end of it. And most people never get to pay off their mortgage. And so we're going to walk through and talk to you a little tonight about what the experiences that our clients have had and what the experiences that we're seeing and, and then try and introduce you to, you know, just a little bit of a way different way of looking at things to where like maybe the marketing and the Today show and what everyone's running around trying to tell people, hunt for the lowest rate possible. Maybe that's not the best way for us and for you. And we're going to try and see if, if that's the case for you.

Guys tonight makes a lot of sense. So yeah, what we're going to be running through, I've got a few slides. I'm just going to bring them up and down as we go. So just going to kick off this start here. You guys are committed, you're here tonight. You want to learn something different because what you're currently doing is probably not working. And that's why you said, you know what, I want to listen to other people and what they're doing because there must surely be another way. And there is. And this is what we found. So why do banks advertise cheap rates? Do you think they're doing that just to make sure that your best interests are taken care of, or do you think it may be, possibly could be to become more profitable? And just to put this into context, when banks offer fixed rates, do you feel that they offering you a fixed rate trying to save you as much money as possible or do you think that they're taking a bet that that fixed rate will make them more money if you take it out as opposed to staying on a variable rate? And so fixed rates were exceptionally good during COVID A lot of people jumped onto the 1.99 and the two percents. We're now at the top of the interest rate cycle heading on the way down, certainly not the time to be fixing. But banks are still throwing burley out there, say hey, fixing at 5.25, 5.5 with the hope that you take that burly and then they lock you in for three years, five years and mean their talks of we could have another half percent rate reduction over the next six to 12 months. So if you've locked in that fixed rate, the bank's going to be winning for the next few years. As always, the house wins and the bank wins. So that's a quick question to you guys, thinking about who you're getting your financial advice from, who you're getting guidance on who is setting your loans up. It's either a bank or it's either a broker. Now, banks make more money the longer you're in debt. We understand this, it's called interest. It's called bank profits. CBA made 10,000 million dollars in profit after all their expenses, after all their tax, after everything, 10,000 million dollars just last year. That's just one bank. And they're not doing that by accident. They've got all the loopholes covered. Like Maddie said, The CEO of CBA just took home 10 million himself because he's working hard. It's tough out there. And brokers are paid every month a percentage of your loan balance. Put your broker hat on for a minute. What wouldn't you want the client's loan balance to do if you're getting paid a percentage of it every month, maybe go down. That wouldn't be good for the broker because then they'd be getting a pay cut. And so these 30 year loans, offset accounts on their cheap rates, are designed to keep the loan balance as high as possible for as long as possible with the intention that after 3.9 years on average, you walk into the bank or you call the broker up, or probably the broker calls you up saying they found a cheap rate because I want to get paid again. Because every time they refinance you, they get paid an upfront commission and they also get their trail. Now that upfront commission, believe it or not, is only applicable if they move you to another bank. And so when you move to another bank, what they normally do is reset your loan term back to the start of another 30 year marathon. So you've done three years not paid much off the principal. Frustrated. Maybe it's the rate. Maybe I need a cheaper rate. Maybe that's going to change everything. You find a cheaper rate, the broker gets paid again. Your loan term gets set to another 30 year marathon. And one thing I know is if you're trying to run a 30 kilometer marathon and you keep going back to the start line every 3km, I don't know if you're going to finish that.

You know, it's, it's funny when I, like when I, I was in the army for A long time I was in a unit called 2 Commander Regiment. And I remember like whenever you get home from your first deployment, the first thing that every young digger does is they go out and they buy an SS Commodore or they buy whatever, right? They buy a silly car. I was there, I did it. And you've never bought a car before. And like all of the ones around the bases, they see you coming, they, they know you're coming in and they know that you have a definite salary, you can't get fired, it's the army. And no one ever talks about the price of the car. They talk about the monthly repayment, right? Has anyone ever been through that? Right? And when you're 21 years old and you're a bit of an idiot, right, you know, and your dad's not there next year, your mom's not there next year to say, hey, timeout son, right? You just kind of go, oh yeah, sweet. And you know, like, mate, it's only going to cost you 500amonth. It's going to cost you 500amonth. Rental is going to cost. Then you're, you're a few years later, you're looking and you got to sell the car and you almost owe more than what you paid for it. It's like it's a, it's a five or six year loan with a 14% interest rate. But all they tell you about is that end figure. Now in cars, because we transact cars so often, we sort of see that coming a mile away because it's a salesperson doing it. But because of the perception of the fact that that bank person or that broker is not a salesperson, it's a little bit of a different perception, but it is the same thing. The true interest rate is not 5%. The true interest rate is not 14% even on the car. And they're talking about a repayment. And it's with mortgages, the way that they work is that it's like daily compounding interest with a front loaded interest repayment. And so the majority of the interest is paid off in the first 10 years and then in your next 10 years you pay off a little bit less. Your last 10 years you're paying almost all principal to the point where your last two to three years is basically all principal and you just hammer off the loan because you've paid off all the interest. Now there's an argument and say that that's fair enough because they're frontloading all the risk and all that kind of stuff, but it doesn't change the fact that the interest rate really has not much to do with the rate that they give you. That's just to give you a repayment. The interest rate is really, how much do you pay for that car or for that house over time? And if you're on a daily compounding 30 year loan, you're actually paying like a 242% interest rate. Right. But if you can figure out a way to pay that house off early and you take years off, then the true interest rate is significantly reduced in the same way where if you pay that car off and you do a two year loan or a three year loan, even if the repayment's a bit more or whatever, it's like you're actually paying significantly less, significantly less for the car, which are the true interest rate is significantly reduced. And you know, I think with cars it's something we've all been through, we've all had that. We've all like, oh, we got scammed by the car guy. Right. But it's like, heaven forbid the banks sponsor the cricket. They must be good news. And you know what? They're not bad. It's just a business model. But when a business model produces $10 billion in profit, grows every year at above inflation, but also above population growth in a relatively flat population growth country, where's all the extra mortgages coming from? Where's all the extra cash coming from? And it's because of constant refinance cycles. And you can see it in the media and you can see it, they push it out and this is why people end up with a 45 year mortgage.

Yeah, we're going to go through all those numbers right now. Like so tonight's just about like taking the veil off getting under the hood and showing you how this all works. Because no one wants you to see this. This is why you don't know this. Why not taught this? No one benefits from you being out of debt. No one makes money when you pay your house off. There's no money in getting people debt free faster for the banks and the brokers. So I'll just swing up some more education slides as we unfold this. So very fair to say banks are designing loans to become as profitable as possible. They're very, very good at this nice little bit of art I whipped up there. A little banker bonuses. 10 million. Imagine your salary was $10 million per year. So this is about CBA. And CBA just announced a half year profit. Not a full year, just a half year of 5, $100 million. That's 5.1 billion for you, Matt. And a dividend increase, which is great. And the boss of CBA says it's been another challenging period for many of the bank's customers. Oh, Matt. Very challenging for the bank's customers. But Matt certainly got no problems. And they've had to make 65,000 tailored payment arrangements because people are struggling to keep up with the payments due to this cost of living. So you've got 65,000 Australians. I'm drowning here. Like, things are just too tight. The CVA boss, up 10 mil a year is plenty of. And they're making five, $100 million every six months. That's just one bank. And when you sit and look at how they do business for 23 years, they are the smartest guys in the room. The way that they've basically configured everything in their favor is as good as a casino. They are always stacked the deck. You've seen your loan documents. When you sign a loan, just after the formal approval, like everything is. No long documents is covering them. And unfortunately not you or your family there. So banks are making money. I want to show you how they make this money. This is the important part. It's okay. We all understand they're making profits. We told that in the media. But how do they do that? So they trap us by getting us focused on the wrong number. They trap us by telling us to look at the rate. And everything you've heard up until this very minute has been the cheapest rate is what you want. And the reason you believe that is because you think and have been told that the cheapest rate equals the cheapest loan. That's not true. It's not true. The cheapest rate does not equal the cheapest loan. The shortest term equals the short, cheapest loan. So you start here and in three years on average, your broker will call you up or you'll go to a bank to try and find a cheaper rate and they'll reset the loan term back to 30 years. And you go through the motions again. See how the flattest part of the graph is the first three years. That's just a coincidence. I'm sure at the 15 year mark, that's when you've paid the majority of your interest. And now the principal starts to reduce quite rapidly. Our clients are out of debt by that stage because they aggressively attack the principal first. We reverse the flow of all their money so that the principal comes off first rather than just paying interest. And as a result of that, with the reverse compounding Effect of a mortgage, they start to see very, very big debt reduction. So that's how the banks are trapping us just in that three. You think you're getting cheaper loan every time you refinance for a cheaper rate. I'm saying you're not, you're getting more expensive loan because now over a longer period of time, you only had 27 years left, now you've got another 30. So that means it's really a 33 year change.

The length of the line on the.

No, we didn't draw it out again.

No, no, I reckon, I reckon they took it to 30 years just as a guess. But it's always something to, to check on. So people are unaware of this. And so it's not gonna make me.

The co host, mate.

Yeah, I'd love to make you the co host mate. People. It's not your fault, definitely not your fault, but it, it is unfortunately your problem. And what I mean by that is you don't know what you don't know. 60% of Australians today are retiring with a mortgage. Why is that? Because of refinancing every three years, trying to find a cheaper rate, thinking that's going to change everything. And 20%, one in five people feel they have control of their finances. That's quite a sad statistic. Four and five people go, no, I'm out of control financially.

So also, there's also more to that. There's, you know, the constant ability to redraw, right? So this sort of designed and set up to where the access and ability to be able to leverage the equity that's in your home, right? Or like the equity, right, it's just the bit you paid off, right? Essentially it's the one bit you own, right? So it's like take the one bit that you own and then constantly leverage it, you know, to provide cash flow or whatever it may be. And sometimes these things are necessary. Like, you know, sometimes you, like you need to do that. There are times in your life where that is the most important thing, right? However, the fact that you are constantly bombarded with the ability and the marketing, because that's what it is, it's just trying to push people towards a particular action is either refinance or redraw. And what that does is just constantly making the loan higher. Now why is that? It's because your mortgage technically goes up every month, then you make a payment, right? And then it goes back down and then it goes, it creeps back up because it's a daily compounding number. Like that's how it works. And then from there. So the more, you know, the more that you pay the principal down, the less that it can go up. So if you're constantly paying down, which is why people say, like, you know, a little trick is like, you know, pay it weekly rather than monthly, right? Because there are more payments. There are 12 payments, or there are 50, or there are, you know, 48, essentially, weeks. And, you know, if you look at it that way. But there are 52 weeks if you pay it off weekly. Right. So you're paying more repayments. Now, why is that important? The more frequently you pay it down, the more money that goes in there, the less it can tick up. Because it's a compounding, it's an interest on the overall amount. Right. And so it's just the way that the math works, which means that you can reverse that, which means that you can smash it down pretty quickly if you know how to do it and if you have a good system and structure behind you and there's an actual goal, you know, like, you know, when I was in the military and I was in a special operations unit, and everything that we did, every training that we did, every operation that we did, had specific goals behind it. And I think, you know, mortgages are one of those things that are. Have just become ubiquitously known throughout the world as something that you just really don't pay off. And it's just the way it is. We hear that all the time. Oh, it's just the way it is. But there are other ways to do it, and people are being successful with it. But it requires, you know, a goal of, like, no, no, no, I really want this mortgage paid off in 10 years. And that's what, like, we're lucky enough to see that every day. And so we're on the other side of it, right, where we can see people doing it. But it's such a shift in the mindset of what most people are, because most people are taught to go and hunt the lowest rate all the time, you know, and there's a good reason for that because it makes an awful lot of money.

Yeah, that's it. That's everything is to make more money from you. And you're going to see that as we go deeper into this explanation here. So people are out of control financially. Most people. I'm just generalizing here. So what if there was another way to pay it off faster? What if someone had worked out a different strategy and designed a loan that was principally focused on owning the house in 15 years compared to 30 years. And the actual interest rate has nothing to do with it at all. What if that was possible? And if that was possible, wouldn't it be nice to learn how to actually do that rather than continually to do exactly what you've always done ever since you got that home? And I see so many people every day where they bought their home and it's now like they 10 years ago they bought their home, they borrowed, let's say 500 and they owe maybe 450 because they've continually used equity to fund their lifestyle that they've only been paying 10 grand off per year, refinancing every three years. They're just frustrated. They can't work any harder than what they're working and they're frustrated with their lack of progress. And that's sort of what's causing the reach out. So.

Or one of the other ones, sorry is where the brokers convince you to consolidate your other debts. And so you might have a car, right? But a car could be, it could be technically, depending on how it is, it could be a tax deductible debt. Mortgage is a non deductible debt. So it is not a good financial decision to consolidate those things if you're.

Paying over 30 years. No, definitely not exactly, no.

It just end up paying a hell of a lot more for the car.

So looking at the rate, this is what you've been trained to do. This is what you have done, this is what everyone does. I'm telling you it's a wrong number. Time is your most precious currency and that's the actual figure that you should be looking at. Because the shortest loan term is the cheapest loan. Doesn't matter what the rate is, it's about long term. I'm going to show you these numbers as we go. So how do banks make money? Like it's just unbelievably stacked against you. They make a lot of money. 80% of your repayment in the first three years goes towards interest. It doesn't actually come off your principal. So 80 cents in every dollar you pay the bank doesn't actually come off your debt. You've been looking at the wrong number the rate because you've been trained to do that. You don't have any system to track or measure progress. Why would anyone give you one of those? It doesn't help them. And if you're not paying your income directly into your home loan, I personally believe you will not own your home before you retire. This is what the banks are making. Only 10 million. 10 billion for CBA, NAB, Westpac. I mean, that's 32,000 million just for those four banks. And that is all coming from your interest. How do they make that 32 billion? They tell you from the Dolomite days when you're a good little saver at school, to put your money into a savings account. Now, what they didn't tell you was that savings accounts, transaction accounts, VISA, debit accounts, have a interest rate of 0.01%. So you putting your money into an account, you're not making any money off it. It's basically losing money. It's not even keeping up with inflation. And then you believe that your money sits and waits for you in your savings account. It doesn't. Your money isn't in your savings account because the banks on lend the money in your savings account to other customers for their home loans, car loans, personal loans and credit cards. So let's take a step back. You are putting money into an account which is giving you 0% interest. The bank is then lending that to Mary on her credit card at 16% interest. That's a good business model. That's how you make 45 grand per minute or $2.7 million per hour. You get money for free and you re lend it to other customers at 16%. That there, unfortunately, is the way the banking system stacked up. And it's also the way that the banks have conspired to make us think savings are good. You're losing money putting money into a savings account or transactional account. You get taxed on whatever interest you get, which is nothing. But more Importantly, inflation's at 3%. So if your money sitting your savings account isn't even paying you 3%, it's literally worth less and less and less. So how do we combat that? How do we flip the script into the exact opposite? What we've been told to do so we can get the exact opposite result? Because we all know if you keep doing exactly what you're doing, nothing's going to change and you're going to do the exact same result. You're going to get a cheaper rate in three years and rinse and repeat. So let's look at what we need to do to get a different result. Okay, so this is from NAB's website. If you go to nab.com do you go to repayment calculator, you're going to see this exact site. It's a screenshot from there today. So if you have a $600,000 loan with NAB, and you have a 6% interest rate over 30 years. Can you see the big numbers on the page? Where do they want us to look? Wow. This one is big and this one is big. So they want us to look at the minimum repayment required. Why would they only want us to make the minimum repayment? I don't know. And they look at the. Want us to look at the rates. I want you to look down here. Total interest charged. How much is this loan going to cost me out of my own pocket after tax to own it? 1.29 million. You borrow 600 from the bank, you'll pay back 1.29 million. I'm sure some of you aware of that, maybe not all of you. You pay back double what you borrow, the bank takes home 693 and you have 600 come off your principal. So this again is just showing you, this is what people are trained to look at. I'm training you down here. This is the number. That number, 30 years and that number, total interest charge are the only two numbers you need to worry about because that's how you own your home. Now these, like every 90 days, we do these snapshots for our clients. So this is what they were doing before they met us, though, with a bank, one of the big four. They'll pay their loan every single week. They were paying 2,000 off every quarter. 2,000 off every 90 days. Not bad. Pretty average, pretty standard. First 90 days with us, seven and a half thousand off the principal. Same income, same loan amount, just 7/2 thousand dollars better off. That's a 259% increase. We average about 200% uplift for most of our clients after the first 90 days. Because we put in a plan, we put in a strategy. We track everything. We measure you and we put you on a structure that's designed to get you out of debt. So this Here is the $600,000 loan from NAB broken down. You have a $600,000 loan. You pay 6% in rates. Your actual repayment is 4,000 per month. That's 48,000 per year. Out of the 48,000 you paid NAB, 36,000 evaporates in interest, doesn't come off your principal, and only 12,000 came off your debt. So imagine paying someone 48 grand a year and only 12 of the 48 goes where you thought it was going. What's that mean? 75 cents of every dollar you pay every single week, fortnight a month does not go where you need it to go. Which off the Debt. If you do this for three years, you're going to pay $144,000 over three years and you're going to smash your home loan down by 36,000. For our clients, that's a decent year, not a three year result. So you can see here that the interest being front end loaded, 75 cents of every dollar you're paying doesn't go off the principal. And that's why you're frustrated with the lack of progress because you're in that first three years where all the interest has been front end loaded. And so what we need to do is flip the script and aggressively attack the principal first and foremost to allow that compounding interest to start working in reverse on our mortgage. The lower your debt, the lower the interest and the less going towards interest means, the more money coming off the principal. So any questions so far in the chat, jump in. I'm just going to continue rolling until I do get a question here, but this here is. I can't believe they used to tell kids that Coca Cola was good for them. For a better starting life, start Coca Cola earlier. How soon is too soon? Obviously these days that would be children.

People don't really. I've been in when since I got into the army and I used to have gyms. Then I got into. I've been to marketing for a while and like sales, copywriting and it's a pretty fascinating endeavor because it's extremely powerful and people don't really realize the power and the sway that general things have over them day to day. The reason why we eat bacon in the morning was a marketing campaign. So back in the sort of, you know, 30s, 40s, they were sort of more like conglomerates and so they would be like, you know, consumable conglomerates. So bananas, right? They actually started a civil war over bananas so they could reduce the. The Chiquita Banana company, right, started a civil war in Guatemala so that they could have cheaper land. Anyway, it's a really fascinating sort of endeavor as marketing. However, like pork, sort of big pork got together and they were very much struggling to sell like the off cuts, which is bacon basically. It's not a really like high end cut of meat, but if you deep fry it enough, it's delicious. The same as if you smother lobster and enough butter. It's absolutely delicious. But really like in America in particular, it wasn't. There was no uptake for it. So they created a marketing campaign. And this is in the 50s where a good wife will serve bacon and eggs for Breakfast to their husband in the morning, and they ran it in the middle of the day. And they did it, like, brilliantly, because back then it was cigarette and a coffee. That was breakfast for, you know, any guy going out to the work. That was. That's what it was. And so bacon and eggs. Bacon and eggs. Bacon and eggs. Bacon and eggs were not a thing until then. And so, you know, it's a tremendously powerful blue, and blue being the boy's color and pink being the girl's color. That was in the 1910s. That was a marketing campaign. Right. And so we're sort of like, very much enthralled in marketing all the time. And a lot of things that we think and why we associate, you know, red would stop and green with go and all these kind of things. They're all things that have been sort of ingrained in our society, and they start very, very young. And it's sort of, you know, it propagates almost by accident at some point. But, you know, your parents are talking about lower rates and lower rates and lower rates and brokers, and there's an entire industry that benefits from it. And so it's not difficult to see how these things propagate and how they work. But at the end of the day, you know, it's. And people will sort of staunchly hold an idea, but it sort of holds no weight. And the reason is because the cheapest loan is. Is the one that you pay the least amount. It's not the. It's not the least amount per month or per day or per week or per year. It's the least amount. That's the lowest interest rate. There's only one way to cut it. And so the reason why they have the giant number is because if they put the little number really big, everybody would take a step back and go, do I really want that house? And, you know, heaven forbid we buy houses we can afford. Right? It's not the Australian way.

No.

You know what I mean?

So that's where it sits, is I could just. I know it's a reframe. I know a lot of you thinking, oh, this is just opposite. This is upside down. Why is no one I've spoken to in the last X amount of years since you bought a house said anything about this? And you've got to ask, well, are they financially incentivized to get you out of debt, or do they want you in debt? And that's the question, is, do we. Do we take advice from people who've got a financial Incentive to keep us in a loan or do we take advice from people who actually want us to get out of debt? So these are very interesting numbers. This is, we do all these for our clients. It's called our debt code. We'll do one for you. And so we basically look at your loan amount, your income, we run through all your expenses. And I want to show you here, if your rate is 6%, either pay the house off in 12 years and 6 months. If the rate is 7%, either pay the house off in 13 years and one month. And so where this sits there is you would have thought that a 1% rate would make a huge difference. But this is one year. You're still on 27 years, by the way. I'm saying the difference between 6% and 7% is one year. You pay the house off in 12 and a half years versus 13 years. So rate is not everything. It is, I feel, more of a distraction tool so people can continue to refinance you back to 30 loan terms every three years because you think you're getting a better deal. So you all probably have an offset account. I think offset accounts are great if you're planning to convert your current home you're in into an investment party. That's definitely the best part about an offset account is you can then claim the max amount of interest on your debt. When you turn it into investment debt, it might pay your house off three to four years earlier. I'll go through these numbers on the next slide. And so there are positives to offset accounts. The money sitting in your offset account offsets your interest. What it does not do is pay down your principal. Now, from my experience, there's only one way to pay off your house. That's a pay off your principal. And so the access to the offset account. Banks know that people spend what they have direct access to, thereby there's less in there to offset. And as a result of that, they don't really start working into the 15 year mark. So let's look at this. The gray line is no offset account. The blue line is an offset account. If you have 60,000 in your offset account from day one, your little go getter, the rate 6.19%. You have shaved an astonishing five years off your mortgage. You've got 24 and a half years to go rather than 30 years. But that's if you've got 60,000 from day one. I don't see a lot of people with 60,000 in their offset account. Now let's look at this. The first three to five years. There's not much spread here between the green, the gray line and the blue line. That the 10 year mark is probably is a little bit of a gap. But the 15 year mark is where it really starts kicking in and you can start to see that gap wind up on that back 15 years. No one gets past here because you're all refinancing back to 30 years at the three year mark. There's zero difference between what you're doing and an offset account. Now once again, I'm just generalizing here for the masses. If you have an offset account, yes, it's better than not having an offset account. I agree with you on that. But I know from experience having client path of the house every 28 days that they were on an offset account before they met me. They were on a cheap rate before they met me. And with the same income and same loan amount, we've got a debt 12 years compared to 24 years. We usually have our clients home loan terms on average because we take all the interest out, not all, but most of the interest out. Leave it in your hotline where it belongs. If you change banks for a cheaper rate but keep the same loan term loans, are you in front? You're still in 27 years. I mean it's like it's better. Definitely more in front. And if you had reset the loan term back to 30 years. So the question was, hey, I've got 27 years and if I just call my existing bank up and get a cheaper rate and or I refinance to another bank for a cheaper rate. But I still say I want a 27 year loan term. Am I in front of. You are more in front than what you would have been if you'd reset the loan term. Yes you are. But in front in general, I wouldn't think that would be a fair statement. 27 years is a long time to be paying 3,4000 dollars every single month for. So I think it's the, the sort.

Of, this one of the sort of equivalencies is like, you know, I used to be, I used to be a PT when I direct. When I got out of the army I was a PT and people would be perfect all week. Now you have to be in a calorie deficit to lose weight. You got to be in deficit. It's the way that it works. One bad meal can make you neutral for the whole week. Right. And so they're perfect throughout the whole week. And they're about, say they're, they're a thousand calories in deficit for the whole week or 1500 calories. You do that for five weeks in a row, you lost a kilo. Congratulations. It's amazing. Full kilo, pure fat. But if you then have a 1000 calorie meal, which is very easy to do, it's a milkshake, right? Then all of a sudden now you're In a, say 200 calorie deficit. And that takes, at 7,000 calories, that takes an awful long time to lose a kilo. So what happens? People get, they just stop trying and they go, well, it's just not for me. I'm so good, I'm so perfect, I'm trying so hard. But every week they have a milkshake. And that's literally all it takes for some people, right, depending on their diets and that kind of stuff. But it's the same thing, you know, and you can, you can chip away, chip away here and there. We end the day. You're never going to get the big goal if you don't have a system, a plan, a structure and some level of accountability because someone has to slap your hand a little bit and go, are you sure you want that milkshake? And you go, I don't need it. Or maybe I just have a little sip, you know, I mean, just a little sip, you know, don't have the whole thing. And so it's a, that's, that's all part of a system and a structure. It's not, it's not all about loan structure. There's also, you know, goal setting, process and a level of account that has to be put in place in order to get an outcome.

And if we want to talk about the personal loan analogy, we've all had a gym membership, we all don't have abs. And so if it was just about the gym membership, then we'd have. I, I definitely don't know. I definitely know you don't. So I don't think there's anyone in this course got abs. If you do have abs. Well, I'm impressed. You are a unicorn. So. But you've all had your membership. It doesn't mean you've got abs. You can have the same, like the structure that we're talking about. It doesn't mean you're going to get the result that we get because it's not just about this one structure. It's kind of like comparing, hey, I've got a gym membership versus I've got a gym membership with a personal trainer, a nutritionist, a Psychologist, a strength and conditioning coach and a masseuse. I reckon the second guy is going to get the ABS because of that support, because of the guidance and the team behind them to make sure it happens. So this is average sort of result for our clients. Out of debt 13, 14 years. The same in 10 years time, they owe just under 200,000. With us, they would still have 400,000 left owing on their offset account. So that there just shows you how that gap, we talked about how the offset account gap widens. Well, look how fast this gap widens when you've got a house paid off within 13 years. So as we said, average clients doing 28,000 per year. Please look at your numbers. This is what tonight's about is actually teaching you what to look for. Look at how much you've paid off your house over the last 12 months. I'm going to send you a calculator.

Everybody know how much they've paid off? Or is it just one of those things that people are just like, it's not really on my radar. I know that it'll be off in three years. You guys can raise your hand in zoom or you can do whatever you need, or you can just, you know, you can just send good vibes. But if you, but if, you know. Right on my radar, not on a radar. Okay. Why is that, do you think? Life, life gets in the way of many things.

I mean, this is probably one of them.

Okay, okay. Do you know that's helping you pay your house off? You say that again. Do you think that that's helping you pay your house off? No, but you kind of, you know, I'm in the, I'm in the, the band of having an offset account, hoping.

It'S doing the right thing.

And yeah, you know, we're paying about, you know, sort of just under three grand a month. Okay. But, but yeah, definitely. Something like this raises alarm bells because.

You, there's got to be a better way.

Yeah, I mean, you know, and you're doing the things that everyone's doing who's responsible, and, and doing what they should be doing, which is like, I'm being responsible, I'm holding savings, I'm putting in the offset. There's just the difference between that, which is what the bank would say is really responsible. But they also told my 5 year old to have a savings account. It's like, well, you know, probably, I'm probably not going to do that. You know, just because when you understand how money works and how the interest rates work, you realize that like, although I see your point, I can also see like, but that's the structure that benefits you the most. Because you know, I, if I put my $10,000 into your bank account, then you can take that 10,000, you can put it over here and you can make money on it. But if I'm smacking it off my principal, that money isn't there for you. And so not only am I paying you less, but I'm taking away your ability to lend my money. Right. And so all the money that's in your offset is just being used to fund other people's houses. So I don't remember what that's called. I think it's a. Right, so, but like you know, you're being responsible, doing the right thing, but the system overall is sort of structured against you. Right. You know, if you, if you, if you split the bet on 17 every time, yes, technically you're doing the right thing playing blackjack. But it doesn't mean you're going to win.

No, it's, it's once again like it's not your fault, Definitely not your fault. Never been told this, but it is definitely your problem. And so what we're about to go through now is okay, what can we do differently and how does that look? So average client, our average, when we speak to them, has a savings rate of 3.7%. What's the savings rate? It's what percentage of your income you keep. For example, if you earn a thousand dollars per week, the average, this client averages, they, they get to save $37 of the thousand. Now the average savings rate in Australia is 1.7%. So that means they keep $17 for every thousand dollars they earn. Our clients average savings rate is at 17%. So once again, they were 3.7 before they met us. Same income, same loan amount, all of a sudden, 17% savings rate. It's not the gym membership. It's not the gym membership, it's everything else around that. And so that's, that's the important thing to take into account now with obviously had a lot of clients go through this system, a lot of them being exactly where you are. Oh, it's too good to be true. Why isn't everyone doing this? How come I didn't know about this before tonight? I mean we are primarily referral based business. That's just the way I like to work. My mom told me that stranger danger is real. And so I just want to try and deal with people who know other people. And so we've just started advertising Because Matt said it was a good idea to help more people than just the people that get referred to us. I thought that makes sense. So have any one of these clients that you're happy to or want to speak to, We've had six clients this year pay off the house. If you want to speak to all six, they're very happy, they're quite chirpy. Some would even say they've got a bounce in their step. When you don't have a home loan repayment, you are a lot happier than what you normally would be. So from that perspective, like this client paid 112,000 off their principal in one year. This client did 61,000 in one year. This kind did $87,000 in 11 months. These are not our best clients. These aren't like, oh, look at these guys, they're just the unicorns. These are everyday Australian families who have just finally got their money sorted in the right way and structured to ensure it actually works for them. So what are the keys to owning your home faster? First and foremost, having a home ownership plan. A plan must be in place because if you don't have a plan, then means you're on a bank's plan. That's not a great idea because their plan is there for them, not for you. We then highly recommend you have a cash flow management structure. Now, if you don't know what that is, we can teach you what that is and how it works. Primarily, it harnesses every single dollar you earn, optimizes that and separates your income from your living expenses. Critical part, because most people spend what they see in their account, a financial strategy. So we implement that for you. We say most clients we see want to set their kids up. And so part of that financial strategy is how do we set our kids up? So we implement that to make sure the house is paid off and the kids are set up for life by the time you retire. We then track and measure everything in your financial world, kind of like a cfo, a chief financial officer does for a business. We do that for you and your family. We track your savings rate, your debt free date, your surplus, cash flow position, how much equity you create in a property every single month. We then guide you on how we can improve those figures. We then audit all your bills, how do we get you cheaper gas, cheaper electricity, cheaper phone to create more surplus to pay off the principal. And the final piece of the puzzle is accountability. And I know I've had a personal trainer, I thought I was doing quite well and all of a sudden I Stopped using a personal trainer because I thought I was doing quite well. And all of a sudden I stopped doing quite well. The reason for that is because I lost the accountability. I found I performed better when I had someone else there making sure I rocked up at the gym. When I said I was going to rock up, I got that extra one or two lifts out because you know when you sort of, I'm just going to do 10 reps and then these guys go, give us another two, like, okay, I'll give you another two men. And so because of that, I got a better result, I got fitter. And so like that's the same like basically psychology we're trying to use here is accountability. We always perform better when we've got someone holding us accountable. So this is what we bring to the table and this is how we actually implement it. We call it the four pillars. Through our homeownership plan. The first pillar is the equity accelerator. So we automate all your money so it's automated. That means you have to worry about it or think about any more. That is a huge, huge weight off a lot of family shoulders because someone's been delegated the finance responsibilities and they've got enough on their plate already with work and family and kids. And so as a result of that, we automate everything. And so once we've automated it, we then segment the money so everything's in the right bucket at the right time. And most importantly, we then optimize your income and make sure that every single dollar you earn works for you and not for the banks. And by doing that, we can aggressively flood the principle of your loan as opposed to just the interest. We then, like we said, track and measure everything. So you've got data coming at you every month. We speak to every client, tracking their results, making sure they're on track to hit that 12 year, 15 year, whatever that long term goal is that we've designed together. We then have financial coaches who basically give you financial coaching every six months with a full deep dive into your exact financial position. It's kind of like a financial report based on your savings rate, based on your cash flow, what other clients are averaging for a family of four in your state. And so there's a lot of benchmarking there as well. And then the accountability, just so you are motivated and focused to hit that homeownership goal of 12 years or whatever it may be that you are.

So this is before we go into the next one. Is everyone, does everyone make sense? Like, is everyone open to that level of accountability. Like, that accountability, actually having someone sitting there and going, like, hey, every six months, sitting you down and going, we said this was the plan. Now we've done well. But maybe, you know, there's a little bit of frivolousness going on. Maybe there is some silliness, right? So put in the chat if, like, that is something that you're open to. Because if you're not, we're for sure not the right place. Right. If you're looking for more friends, I'm not the guy, Right? I don't need more friends, Right? I've got one. That's enough. Yeah, right, right. Me and my mom get along great, you know, so if you're not open to that, because then you can't have a real conversation about it. And we've got to have a pretend conversation. Like we're at a bank and we're trying to say something. That's not what it is. When you're someone's coach, you have a responsibility to tell someone the truth. And I think that's a. That's one of the best parts about being a coach, right? About trying to help people, is to go, hey, man, like, your breath stinks. Here's a. Here's a piece of gum. Like, let's actually fix it. You know what I mean? So if you are type something in the chat, say yes. If you're not, that's totally fine, Totally respect it. We might not be the right place for you, but if you are open to someone holding your hand and then telling you when you've done well, but also, like, hey, I think these are some things that we can improve on, right? Then let us know and then we can, we can go on the next bit. Because I want to make sure, I want to be really clear. Like, we're not. We're not. This is not the happy, happy, fun time friend zone. This is the let's, let's pay your house off. Yeah, right. And you know, there's someone in your corner thinking about it, because it just gets in the back burner of everybody's mind. But, you know, if you've got someone thinking about it and making sure that, you know, you guys are pushing towards the same thing, then I think, you know, I think, call me crazy, you might have a better chance of actually achieving it.

This is what the numbers show. I mean, you are trying your current path and always sit down. We run all your numbers. We do the projections and do the apples versus apples comparison. And we say, do you think your current plan is going to get you closer to your goal of home ownership? Or do you think this plan and strategy and coaching and accountability and reporting is going to get you closer to your goal of homeownership? And that's a simple decision. And so from us, we'll give you all the tools and actually do the hand holding like a concierge service. And like, everyone's heard of the barefoot investor. Don't have any problems with barefoot investor. Obviously there's a lot of accounts, it's very busy, there's a lot happening, but a lot of Australians are too busy. And that's one thing I've learned is how do we actually do it for you? So we set up the structure, we set up the system, and then we've managed everything with you. You are the CEO, we're the cfo, but our job is just to get you that result and continue to work and we guarantee our work. What does that mean? If we, for whatever reason, aren't able to put you into a better position in the first 12 months of working with us, you get everything for free. Like, there's no way you should be paying a personal trainer and be fatter after a year than when you started. Like, this is not right. And so we feel the same. So we're performance based. If we don't get you a better result than what you're getting by yourself, there's no way we've done our job right and there's no way we deserve to be paid.

Exactly. And we do have to know more about you guys. Like, obviously, you know, we like you. I can see, you know, you got lovely faces, you've all got the same fonts. I'm assuming you all have the same father. I must have a big family here. Everyone's got the same font. Right. But we do need to know more about you. Right. And so, you know, what we would like to do is extend an offer to have a chat with you and book you in with some of our advisors. Right. And actually sit down and break down what you have currently to make sure that what we do can even work. Because, like, we don't know it works for our clients, but our clients are people who have done it and who it works for. Right. And so some people might have some crazy, you know, you know, Dutch structure that we have no idea about. And you know, they're, they're, they're on a five year mortgage with a.004% interest rate where they actually earn positive. Maybe you've got that let us know if you do, then we'll try and get the hookup as well. Right. And so Scotty, I think Scotty's gonna put a link in the chat. Is that right, Scotty?

Yeah, I'll grab the link. Now. It's something where this is a link just to. For us to run your numbers a. To see if what we do will work for you. It doesn't, unfortunately, work for everyone.

So we are old school. We like to date before we get married. So, you know, call me old school. Right. You know, you guys have seen us. You're not even like just chatting and swiping left and right like the kids do these days.

Yeah.

Right. You know, not having a clue of how to talk to a human being. Right.

But yeah, from our perspective, it's really about, look at your numbers. Let's work out what you're currently doing, let's compare that with what's possible and then give you the decision, say, okay, this is the plan. This is the strategy. We give the full strategy. So we say, this is what we do. This is how we do it. This is why we do it. These are the numbers. Compare that to what you're currently doing. And if you feel that we're going to get you closer to your goal with you, great. If you feel that your current plan is going to get you there, that's great, too. We're fined either way. That's over 23 years of doing this. We've got lots of people who want to work with us. So if you don't want to work with us when. No hard feelings. We understand that it's not a right fit for everyone, but from our perspective, we just want to give you the data so you can then look at that. Okay. She's as, wow, I'm gonna save $240,000 and have my house paid off in 12 years compared to 27 years. What does that do for your life? What does that do for your family? How much more could you set your kids up because you're in a position where they are. They're basically getting ideally, in my eyes, a hopefully house paid off when you pass away. That would be nice. I wish my dad did that. And maybe an investment pro too. What I would like to do is just add Emma to the course. Emma's a kind of ours. Emma, if you can just take yourself off mute and we're just going to just ask you a few questions around where you've come from. What was your life like before meeting us? Where you at today? How did you Find the system, the plan, and. Yeah, so let's talk about. I remember. I remember coming to see you sitting down and. Yeah, let's talk about that. So, yeah, before we met, where were you at?

Yeah, we were. Sorry. Hi, guys. Yeah, we were sort of just plodding along, doing our thing. We. We just had. We're just planning to have a child, and so we're sort of looking at things about how we could set ourselves up that, you know, we. We didn't have to be, you know, just bouncing every month, just watching nothing come off our mortgage. And. Yeah, so my partner and my best friend went a seminar kind of like this at an accounting firm, and my partner came home buzzing about how she'd met this guy. And, you know, there was this really awesome program. And she was like, we need a. We need to make a call with them. I went, nah, that sounds a bit dodge. It can't. It can't kind of be. You can't pay your house off that quick. Like, otherwise everyone would be doing it. So, yeah, she sort of banged on about it for a little bit, and we just kept doing the same thing. And, you know, we weren't getting anywhere. We wanted to buy an investment property. Sort of didn't see that going anywhere either, because we needed to clear funds to try and make that happen. And yet, just through pure nagging, I suppose, is the word for it, she just kept going, let's go see, let's. And I said, nah. And I. Actually, it must have been two years later, I relented. And so she contacted Crown Money and they came to her house. I can't remember who was with you. It was another lady, but I can remember sitting at my kitchen table, pretty. I probably would have been sitting there, arms folded, really defensive, and I was like, well, I'm just. I. I felt like I was just, like, making my partner happy at the time just to say, you know, okay, we've done it, blah, blah, blah, blah. So anyway, he sort of went through set at the table, and I remember just thinking, I hate this guy. He's like, imagine this person coming into my house telling me how I can spend my money in. So, yeah, he sort of went through it all. And I was like, well, why can't I just do that on my own? He goes, have you tried? And I went, well, yeah. And he goes, how'd that work out for you? And I was like, well, yeah, we kind of spend the money when we think we've got it, so. So, yeah, we sort of. One of the Biggest things I remember you saying to me is, do you want a gym membership or a personal trainer? And I straight away was like, only a gym membership. Don't. I'm not signing up for anything extra. I don't want to have to lock any more of my money away. And, yeah, and so we sort of went through it and I was like, well, all right, let's give it a go.

We'll.

We'll six months to a year, and if we don't see anything, can we don't. You know, it doesn't work for us, then, you know, we won't go through with it. My biggest thing, I guess, was I didn't feel like. I didn't like the feeling I wasn't in control of my own money. So, like, I like to buy trainers and, you know, nice things, and I didn't want to have to not be able to do that if the situation arose. I just thought, you know, all my money would be locked and I would never have access to it. It definitely doesn't work like that. And I think I met with Scott six months after we started, and he said, what do you want to do? And I said, I want to pay this off quicker. How do I do this? So, yeah, those first. Those first couple of months, when you see how much comes off your actual mortgage and you're like, okay, well, your interest is going down and, you know, everything starts to get a little bit lower and lower. And as you go on, it sort of. It just creaked up and you're like, wow, there's a lot of money sitting there. Like, there's a lot of. I'm not paying that. So, yeah, so while the, you know, the first. I'm not gonna lie, the first year is a little bit different. You. You have to adjust to things, but you make yourself more accountable. Like, I was like, if I don't do this, I'm gonna knock even more off my mortgage. And then there was months that, you know, you have things like kids, birthdays, school fees, things like that. It happens. So you've got to redraw that money and you just go and, you know, and you see that month to month, and when you see the good months, it gives you so much motivation to wanna. To do it quicker. I said, it's called all the time. My biggest regret was probably wasting that two years. And it is thrown at me all the time by my partner. If you'd done this two years earlier, we would have been, you know, we would have been done. And. But, yeah, so I was Lucky enough probably a couple of months ago to get the phone call from Scott to say that my mortgage had been paid off. I think, what was it, seven years?

Seven years, yeah.

And yeah, so we were, we probably still had about, I don't know, maybe 20, 25 left to go. We had tried really hard to pay someone down, but we just weren't getting anywhere. And I tell you what, that last two years is. It's incredible just watching and it goes so quick. The last two years and the last six months is even better. I reckon. We were on the computer every month. Oh, it's nearly there, it's nearly there. I think actually we got five, I think we had 539 that we knew we were going to be left. I'm like, Scott, here's 530, get it on there. We want the call this month. So. So, yeah, so look, it's, it's tough for the first couple of years, but man, I never would have thought I'd be sitting here and let me tell you, like, I don't work for Scott. Like I tell my friends about him and a lot of my friends have tried to go through him. It hasn't worked for them. Other friends are going through the process. But yeah, look, like I said, I would never would have thought I was sitting here right now saying that, you know, I'm set up for life, I don't have to, you know, my mortgage is done. We've got an investment property like we said we were going to do. They, they worked with us to make that happen as well. So. Yeah, incredible, incredible.

Definitely not on a payroll, Emma. After that, I just want to say. Yeah, congratulations. I mean, how young are you at the moment?

I'm 48.

48 and home owner.

Yeah.

That mean, that means for the next 10 years if you want to be, you've got all your income to put towards lifestyle experiences with your family, more travel, more shopping. Or you can maybe just invest a little bit of that saved cash flows. You no longer have a mortgage. Like you just said the words privilege. You are financially set for life.

Yeah.

And if we had never met, I can assure you you would been chasing that cheaper rate every three.

There's no way, there's no way 0%.

Chance you'd own your home at the age of 48 and have an investment party.

Yeah.

The reality is we're gonna have that investment party paid off by the time you retire as well. So you'll be collecting that 6, 700 a week passive income from the.

Yeah.

Plus you've got your super doing all the things that it's doing in the background. So, yeah, congrats on your success. Two years early would have been nice for everyone, but. And it's good things come to those who wait. So, anyone got any questions for Emma Walsh is here.

Don't be shy. I'm the perfect person to ask.

You are. You are, yeah. You call exactly how you see it.

You got any questions? Careers there for points? I think what I like to know. What's that feeling like, you know, I'm waiting for that as well. When you actually, like, paid it off.

It's. It's kind of surreal. For the first month, like, we, we like, just kept saying, what do we do with them? Like, the money that we would usually put on the mortgage, now what do we do with that? And then, you know, like, for, for us, we. We obviously want to speak to, like, try and pay some stuff down so we can leave like, sort of our daughter out. I mean, I don't think kids are going to be. They're going to have to be rocket scientists to buy houses by the time they're 18 and stuff. So, yeah, we want to sort of push towards that. But surreal. It's, It's. It's absolutely crazy. I think I, I still keep looking at it going, how is that not there? Like, that whole account is just. Yeah, it's crazy.

I realize that owning your own home when you have a mortgage is just renting from a bank with less. Right. It's the same thing. Right. Well, what was your. What was, how much did you owe when you started?

I think we were about 400. Just over 400.

Okay. And you paid that off in what, seven. Seven years.

Seven years.

Aggressive. Well done.

Yeah, yeah.

Not many people do that. It's.

It's pretty competitive.

Yeah.

Right. Who here wants to be the best? Let's do six years and nine months. Let's go.

I, like, I just set myself little goals. Like, I was like, okay, so I say, oh, what's the usual? Like, what. What are other people paying and what are they doing in, like, one year? How much are they paying off? And Scott would give me a figure. I go, I reckon I could do 10,000 less than that. And, you know, I just, I set myself challenges like that. And, and like, we didn't go without in that time either. We went on overseas. We made sure that every year we had an overseas holiday, you know, and I think if somebody had taken that sort of stuff away from me, then I would have just gone, nah, I'm not doing this. I would have blanked it completely. But because you do still get those, you know, those fun things. And I think it's really important to make sure that you do that. You really, you really push for that as well.

Yeah, I mean, you know, I think like a lot of people, you know, until you have a, like a purpose, you know, then you're sort of. You're like a finless bottle rocket, you know, so you're running around a crazy person doing these ones, just paying off mortgage. But, you know, when you actually get some direction and, and some. Some purpose, you know, there's a. There's a great quote which is like, when you understand your. Why everything you do is more impactful because you walk in or towards your purpose.

Yeah. And I think, I think it's that taking that first step because it's so scary, like when someone tells you that they're gonna, like, not be in control, because I still don't think that you guys are like, we're still in control of our money. But it's just, it's such a big deal because it's your livelihood. You know what I mean? And taking that first step, I. I'd been to a few seminars beforehand, and, you know, I work in, like, in Internet security. So look, I'm always, like, pretty worried about stuff like that. You know, it's. It's. It's huge. It's your livelihood. So just being able to trust someone to do that. I went to other places and I'll never forget playing a credit card deposit for one of them. And then I was like, holy. I just gave my credit card details and I like, canceled all my credit cards that same night as I'd spoken to these people, because I was terrified. Do you know what I mean? So, yeah, once. Once you get in there and you. You meet with them every month and they show you what, how it's all coming down, you're just like, whoa.

That's probably the worst part. Having to meet with Scotty every month. Yeah.

I have to pay people to do that, so.

Exactly. So you can do someone else. Right. You can have a better looking, nicer person.

Definitely anyone else, except very easy to find. So with. With that in the chat, I've just put in a little calculator for you guys just to thank you for your time. It's called a total interest cost calculator. What it's going to do is, is map out your numbers on your exact loan. So just look at the chat there. There's A total interest cost calculator. You put in your loan amount, your rate, your repayment, and it's going to give you what percentage is interest, how much coming off per year, how much going in interest, and then from there, you're just going to be a little bit more aware of your numbers. And so that there is, in my eyes, the. The easiest way just to get a quick snapshot of where am I at with my current structure? And then what we do is we just do a run an apples versus apples comparison against that. Can we beat it? Two ways. Can we beat the annual debt reduction per year and can we beat the term? And what that means, if we can, you've got less interest to pay in total, and we average a $240,000 saving in interest. So thank you very much for coming. The link to. If you want to book a call for us to run away numbers, there's no cost. We'll give you a full financial strategy on what you need to do, how to do it, and why. And then from there, our sort of old superpower is the implementation of that. The hand holding the concierge, the working with you every single month until you pay this house off. Yeah.

Hey, guys. A lot of different ways of doing it. So I know you guys have got questions. The real question is, like, when we can answer those on the call, but we have to understand what your situation is so we can know we have a couple different ways of doing it. Right. So we don't know the answers to your questions yet. We have to actually dive deep. We're not going to do it in a group environment because they're very individual.

Two ways. Can we beat annual debt reduction per year and can we beat the term and what that means personal circumstances.

I guess the best thing to ask yourself is like, you know, there's sort of, you know, there's forks.

If we can, you've got less interest to pay in total. And we average a 200 road.

Right. And time moves in one direction. And so we're either going to do things that take us towards our goal or away. I think that the. The myth is that you can. That you can idle. It doesn't exist because time goes one way. And so when you guys go to bed tonight, you're either going to be taking a chance of going like, okay, I'm going to hear these guys to say, and maybe have a chance of paying it off early, or you're happy with your current situation. Right.

Thousand dollars saving in interest. So thank you very much for coming the link to if you want to book a call for us to run away numbers. There's no cost. We'll give you a full financial strategy on what you need to do, how to do it, and why. And then from there, our sort of superpower is the implementation of that. The handholding, the concierge, the working with you every sing month until you pay this house off. Yeah.

And guys, a lot of different ways of doing it. So I know you guys have got questions. The real question is, like, when we can answer those on the call, but we have to understand what your situation is so we can know we have a couple different ways of doing it. Right. So we don't know the answers to your questions yet. We have to actually dive deep. We're not going to do it in a group environment because they're very individual and personal circumstances. I guess the best thing to ask yourself is, like, you know, there's sort of, you know, there's forks in that you're happy with the way that it's being structured right now. And if you are, that's awesome. Like, everyone should be happy. Road. Right. And time moves in one direction, and so we either going to do things that take us towards our goal or away. I mean, and so, you know, but, you know, always sit there, make a decision. I think about it as just a way to say, I'm going to do it later. Doing it later is just saying I'm never going to do it, because if anything's worth doing, it's worth doing now. Right. And so we look forward to seeing you if you guys want to. If you guys got things coming up, that's fine. Book in, we'll meet you, have a chat. I think that the. The myth is that you can. That you can idle. It doesn't exist because time goes one way. And so when you guys go to bed tonight, you're either going to be taking a chance of going like, okay, I'm gonna hear these hazards to say, and maybe have a chance of paying it off early, or you're happy with your current situation. Right. You're happy with the way that it's being structured right now. And if you are, that's awesome. Like, everyone should be happy. I mean, and so, you know, but, you know, always sit there, make a decision. I think about it as just a way to say, I'm gonna do it later. Doing it later is just saying, I'm never gonna do it, because if anything's worth doing, it's worth doing now. Right. And so we look forward to seeing you if you guys want to. If you guys got things coming up, that's fine. Book in, we'll meet you, have a chat. Maybe we can stop you from making a mistake, you know, or looking at something in a different way. We're more than happy to open up our diaries and speak to people. As you can see, for me, it's 8pm, you know, I mean, and we got clients that are willing to do the same, which is pretty awesome, you know, and Scott pays terribly. Right? So, you know, it's. It's for the love of the game, purely right, so. All right, guys, we really look forward to make sure you book your call and thank you so much for joining us and we'll see you. Maybe we can stop you from making a mistake, you know, or looking at something in a different way. We're more than happy to open up our diaries and speak to people. As you can see, for me, it's 8pm, you know, I mean, and we got clients that are willing to do the same, which is pretty awesome, you know, and Scott pays terribly. Right, so, you know, it's. It's for the love of the game, purely right, so. All right, guys, we really look forward to you. Make sure you book your call and thank you so much for joining us and we'll see you when you pay your house.

Good luck, guys.

See you. Thanks so much. Take care. Bye.

Bye.

Bye.

When you pay your house.

Good luck, guys.

See you. Thanks so much. Take care. Bye.

Bye.

Bye.