October 24, 2022

Luke on 2CC – Rising interest rates and your mortgage

17 minutes

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

https://www.envisionfinancial.com.au/wp-content/uploads/2022/10/The-Strategy-Stacker-Luke-Talks-Money-21102022.mp3

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Do you need advice in a rising interest rate environment?

If you hold a home loan, there’s a range of strategies to consider in a rising interest rate environment to help manage your cashflow. Seek advice if you need help.

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!

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By Luke Smith