Tom Balnaves MB

Over the past 11 months rates have increased massively. With mortgage holders now seeing over 1000 per month repayment increase on home loans, there is a lot of reason to rent. Renting offers at this stage largely a cheaper alternative to owning a property. With Mortgage interest rates being so high the "Rentvesting" gang will be singing its praise. And realistically this is not a bad option. Renting and continuing to buy income producing assets like investment properties works in this current environment. You can live in a suburb or house you may not be able to afford a loan for. For example I was looking at a property in Trigg  https://www.realestate.com.au/property-house-wa-trigg-436792408?fbclid=IwAR2ZygUOqVZLZagucQPb1cDlg0WOq6QD7BVyYwQKOmKMzcnYStRHqFsuNoQ This property is estimated to be worth 1.5mil If i wanted to buy this property, My actual repayments with the bank would be  Mortgaged 2000 per week Renting 950 per week. Double the cost. Now as a "Rentvester"

How I went from gambling addict to 100k in the bank. As soon as i hit the 18 year old milestone i downloaded sports bet. I remember it to this day.  From 13 to 18 i was working casually in Rebel sports. i was young to be in this type of retail role back then and a lot of the people around me were older. This gave me a lot of experience being around them and a lot of them i looked up to and at that time in my life they were what i wanted to do. Out of the town, Playing sports, drinking after sports, gambling and just being young and boystrous. This was what i wanted. So once i turned 18 i had people i could talk to and gamble with right away. I was going to the casino 3-4 times a week,  Going to the races on the weekend then the casino after. It was just non stop gambling  And then came the horses.  This is where the addiction started. There's horse races everyday Every  Single Day When you are doing it, Its the best and i loved it. The highs and lows all of it. At one point i was a

Today I am going to show you how to keep your finances simple and effective. In a world where spending money is as simple as a click of a button, It is incredibly easy to use your account and over spend. It has never been easier to over spend money because it simply doesn't feel real. When money is in your bank account and you have access to spend it. You will. Imagine if every dollar you had was cash. You physically had to give someone money for the item you want. Lets say you have $100 and you need to pay $60 that is 100x harder than using your bank account. I am certainly not saying take all your money out and use cash for your everyday spending. But it is a really good option if you spend to much day to day or food In my opinion. Online banking has made the world incredibly better. It has also made everyone incredibly worse at spending. If you struggle with spending, Use these to sort your finances. - Simplify your accounts - Categorize your spending  - Automate your budget (Ex

Finances are very sensitive topic for many people. Talking about what you earn or what you have in your account is very private. Where does this privacy come from, Usually comes down to judgement,  No one wants to feel inadequate based on there finances. Your income might be low but you have lots of savings Your income might be higher but you have less savings  It will all come back to comparing your situation to there's. I have deep conversations with people everyday about there finances. People in not so great positions think they may be well off. People in great positions think they may not be very well off at all. It is all completely circumstantial and your finances are your finances there is no need to compare to anyone else's. If you focus purely on your own finances and try to learn what YOU can do to better your finances that is a step in the right direction. I want to breakdown the walls of people talking about finances with people close to them or people who are trus

Service based businesses It is a statement used so consistently now. Providing/selling a service is one of the best ways to establish yourself as a specialist in your field. To become a specialist and provide a service is giving what you know and how you plan on doing it. You can be paid to provide your system and process. But anyone can whip up a service and provide information. How and what you do needs to have proven success in how it has been done. For me personally. Providing home loans has been an obsession of mine for the past 5 years. From coaching people without home loans into a home is what gives me kicks. The reward of that. At this current point there is no service charge for mortgage brokers. But i do believe that providing the information and knowledge i have from speaking with 1000s of people directly about finances is something that i should charge for. Right now banks pay me for bringing them business. All banks pay the same and all brokers have access to the same pro

Confusion around AI comes from the unkown. Not knowing is scary. It's why you are scared of the dark. Looking out and seeing nothing is scary,  You don't know what's out there. AI will empower the hard workers and leave the people who skate through life choosing the easiest route. The conversation rose from talking to a mentor of mine who has young children. First year of high school and there are kids using AI to complete assignments and home work. His concerns is we will have people in jobs they are not qualified for because the use of AI has got them to where they are. But it simply cant happen that way. It is no different than today, Its just technology its not magic. You can use technology to become better or you can use it to waste time and host of other things. The people who use AI to better themselves while still working hard, Will just put a greater GAP between the success stories and the mediocre. The knowledge gap is what holds us back and using AI is just knowl