You screwed yourself?

In the following few short paragraphs I’ll show you how nasty credit cards can screw up your Financial Health and Well-being.

Here’s the rough-but-mostly-accurate example:

Let’s say you use a card for $15,000 of furniture, TV, fluffy stuff, smelly things and shit for your new home or whatever.

Interest rate 20% which is about average, more or less.

Minimum monthly repayment is around 3% of the total balance per month.

In this example, no more is spent on the card but you decide to make only the minimum repayment…

Using the Moneysmart calculator, over 24 years, you’ll end up paying more than $33,000!!!

Alright, the stuff you bought for your home was on the verge for collection years ago, your forehead grew, hair changed colour, you survived two health scares, the kids have now finished uni but hey, you’ve just managed to repay the spending spree.?

The maths start looking properly ugly once you correctly include a before-tax addition on top of the total repayment which is how you should always be thinking. By now you know that, right?

Moving on… let's get that final calculation done...

$33,000/0.65% = $50,769 you’d have to earn to repay the initial amount.?

I’ve used an average of 35% you’re giving our mates at the ATO. Let’s say you’re on $50ph, that means you spent more than 26 weeks of full-time work paying for the couch, sideboard, plasma, ceramic toilet roll holder and Sonos which stopped working with the latest iphone update.?

So here’s one very common way I see people completely screw themselves with a bit of harmless spending and ignorance.?

We see this kind of stuff ALL THE TIME and?I need you to know?it’s okay to book a call with me to discuss how we can make your life waaaaay more comfortable.??

We’ve restructured bad loans greater than >>$100k, that have crept up on high-earners whilst putting kids through the best schools and no one is perfect.?

If this is something keeping you up at night and you’re suffering from cozzie livs like the rest of us, pull your finger out and get started now.?

DO NOT be ashamed of the position you’re in, instead, face up to it, grow up, get organised, get reset and get on with your life.?

Get yourself booked in for a 10-minute intro call?to get the Financial Health Check and Review underway. (The call costs me $54.80 but is yours for free. Go figure that one out)

Trust me, you’ll feel so much better for it… and it's easy.?

p.s. due to ridiculous demand, spots are becoming harder and harder to get, I suggest you pencil it in today.

p.p.s. this is not an extreme example at all,consider for a moment all the unexpected BS that comes up requiring extra moula you never planned on spending. Slowly, slowly the hole is dug until you’re into a mineshaft of consumer credit and worse - have no savings. Don’t let it happen to you!

Cheers,

Brodie Brown

BH Brown Mortgage Brokers