Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 21 October 2022. They start the show by talking about luxury car tax, a tax that was introduced to protect the Australian car manufacturing. This week’s topic for discussion however is: Rising interest rates and your mortgage. They are on the rise after a long period of being at record lows, so what might mortgage holders think about?
Key topics covered include:
- Rising interest rates are expected to continue through to Christmas and perhaps into early next year.
- If you’ve got term deposits, keep the terms short to take advantage of a rising interest rate environment.
- For those with loans, Luke offers several different strategies to consider.
- Luke explores the benefits of using a mortgage broker.
- Are there other things you can consider in the family budget with rising costs?
- The benefits of paying with cash.
- Putting money into super vs mortgage repayments
- Also look at credit cards, look at lower costs options.
- Finally, Luke shares his top tips around those with mortgages in a rising interest rate environment
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do you need advice in a rising interest rate environment?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Make an appointment to confidentially discuss investment, super, insurance and/or retirement planning. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcasts on our website too.
We look forward to your company again and sharing more news about the book that’s coming in 2023!