Tom Balnaves MB

Today, we're going to talk about a financial strategy called Debt Recycling.  This might sound complex, I'll break it down to make it easier to understand. What's Debt Recycling? Imagine you have a mortgage on your house. This is what we call 'non-deductible' debt because you can't claim the interest you're paying on your tax return.  Debt recycling is a strategy where you transform this into 'tax-deductible', debt. How Does it Work? Here's a simple step-by-step: You use the equity in your home and draw down on the mortgage. Therefore increasing the loan and providing you with cash or equity. You then invest this money. You use the money from this investment (like dividends or rent) to pay off your home loan. As you pay off your home loan, you increase your investment loan.  That's the 'recycling' part. Yes, it's legal.  But remember, it's not for everyone.  Pros: Tax savings: Interest on an investment loan is tax-deductible,

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