What Do You Do For Work?

Remove this Banner Ad

Log in to remove this ad.

Work in the regulatory side of the finance sector. My tip to fellow Hawkers - don't trust about 98% of people in the finance sector (sorry if you are one of the rare good ones kirbatron).
 
I have been a Loan Processing Officer for 4yrs and currently completing accreditations to become a Mortgage Broker.

Ponderings:-(not financial nor credit advice)
  • Pay weekly or fortnightly if you can (helping to pay less interest and the loan off faster).
  • Compounding interest is great when you’re saving. Not so great when you’re paying the mortgage.
  • Don’t pay the loyalty tax to your bank- have they got you on a better rate than their new clients? 99% of the time the answer is no. See a mortgage broker.
  • Don’t borrow the maximum amount you will service for (if you can help it) as once you add on the interest to repay on top of the principal, unless your income increases you many struggle to pay it off fast.
  • If you’re a first home buyer, look at the various government grants and guarantees that can help you purchase your first residence.
  • Interest only loans have a purpose and may be good for some but remember you still have to pay the principal off.
  • Fixed v Variable rates- the bank will win if you fix in most cases.
  • A good mortgage broker wants you to do well. Not just flog you an investment property loan down the track. Are they listening to what you want?
  • Financial literacy for kids and young adults is so important!
 
Work in the regulatory side of the finance sector. My tip to fellow Hawkers - don't trust about 98% of people in the finance sector (sorry if you are one of the rare good ones kirbatron).
A non-compliant financial advisor or broker won’t be in business too long.
 

Remove this Banner Ad

What Do You Do For Work?

Remove this Banner Ad

Back
Top