Money Madams

A tiny house can be a practical, affordable and an innovative living solution when faced with soaring property prices. If you're contemplating tiny house life, you may naturally be wondering what's involved from how much they cost to the practical considerations. In this episode we cover the various pros and cons of living in a tiny house and even crunch some numbers for you if taking on a tiny home may help you financially step into a more traditional home later.

Resources:

The tiny home association: https://tinyhouse.org.au/

A range of providers including blogs and inspo pictures:

https://aussietinyhouses.com.au/

https://www.offgridtinyhouses.com.au/

https://www.hauslein.com.au/

https://www.bigtiny.com.sg/tiny-house-design-reyes

https://designerecotinyhomes.com.au/

https://mylittlehouse.com.au/tiny-homes/

In this episode, we talk about how to find "good" health cover. You know the kind that ticks all the boxes...... like being good value for money, pays back a decent rate to members, has good service, a low rate of complaints and importantly, covers the things you actually value.

So tune in as we help you evaluate your current or future private health fund. One of the best places to get started is www.privatehealth.gov.au/

If you want to deep dive into the data you can access the nitty gritty via this link to download the State of the Health Funds Report

This episode is just a quick update to let you know we have an announcement in leui of our regular style of episodes as we've been busy preparing and celebrating Katherine's big day!

We will be back with a new episode in 2 weeks. : )

In this episode we meet with Ross Hultgren, and adviser from Geelong along with his client Nigel who wishes to share his claim journey.

Nigel shares an important reminder about what is really important in life, and to remind us all to take care of ourselves and make sure we have a plan B in place.

If you are looking to generate extra income but have no interest in a side hustle or extra work hours then this episode is for you. In this episode we talk about 5 different ways you could generate extra income from your home itself.

If you are nearing, or in retirement and want to access the equity in your home without having to make monthly loan repayments, then you are probably considering a reverse mortgage arrangement.

In this episode we cover the basics of the circumstances where this may be an option worth exploring, how much you may be able to access, along with covering the pros and cons of this type of set up.

So if you or a family member want to know more about reverse mortgages tune in and just remember, this is a specialist area, so make sure to get appropriate legal and financial advice.

As we continue into our mini series on accessing and using equity we dive into a range of ideas and strategies for using the equity released from the sale of your home whether you are downsizing, upgrading or exiting property ownership long term.

Equity can be a great tool to help you get ahead and make the most of your finances, but what exactly is equity? How do you access it?; and when is it a good vs bad idea? In this first episode of a mini-series into using home equity we cover all your questions.

In our final episode for the year we cover the highlights of 2023 and outline some episodes we have planned for next year.

For those that are keen to sort out their finances, we are running a 50% off special for all digital items in the Money Madams store.

https://moneymadams.com/shop/

We wish you all a festive and merry season and will return in mid Jan.

What is the sunk cost fallacy?

The Sunk Cost Fallacy describes our tendency to follow through on an endeavor if we have already invested time, effort, or money into it, whether or not the current costs outweigh the benefits. It can be a big problem when we aren't aware of its impact on our decision to stick with versus abandon our plans when it comes to money, relationships or other key decisions in our lives.

In this episode we cover ways you can work through these challenges and detect these situations much earlier.