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In this episode of the Making Cents of it All podcast Jarred and Brett answer a series of listener questions. Tune in to hear the answers to your burning wealth creation questions.
Questions answered include:
- I can only save $100 a fortnight, is there any point?
- I want to buy a property when the market crashes (thinking in 2023 when interest rates rise). What should I do with my money in the interim? I have about $50,000.
- I am about $20,000 away from a 20% home deposit. Is there any value in waiting till I have it all to prevent me having to pay LMI or should I just go for extra leverage?
- I’ve been watching a lot of TikToks recently and they are talking about ‘index funds’. What are they and how can I use them in my financial strategy? Is that any different to buying stocks directly?
- My parents are always telling me that ‘rent money is dead money’. I’ve been doing some reading about the term ‘rent-vesting’. Can you explain what that is and how to get started?
- There’s so much information out there now and so many things related to finance that I should know, it’s a massive overload of information and I’m wondering where I should start?
- In your Money Management episode you described how to pay yourself your spending cash, and have the rest go to separate accounts to be set aside for when needed. How do I do this when I use my credit card and touch pay all the time. And how does this work with the concept of an offset account you mentioned recently? My bank only allows 1 offset account.
We would love to hear from you so please reach out to us with any questions, feedback or topic requests.
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