The End of The Boom?
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Interest rate rise, is this the end of the boom market?
As you know the reserve bank of Australia has lifted interest rates by a 0.25%, and there have been hints at another rate rise coming shortly, probably another 0.25% by June.
Now, these rises along with the gloomy outlook presented in the media for the coming year could make some people depressed.
I see this time as a real opportunity not to simply batten down the hatches and wait till the storm passes, but simply take a step back, reassess your position, and prepare yourself for the opportunities that might come your way.
Here are the things I think you can do right now:
• Review your current home loan and check to see that you are not paying too much, paying too many fees, or not having the right combination of features to suit your individual needs.
• Do a budget, do it properly, do it completely and commit yourself to it.
• Do a budget.
• Do a budget.
I guess I’ve made myself clear here. Budgeting is the cornerstone of survival and prosperity. No one who has ever made money in the property market or in investing generally has ever done so without having a budget as the basis of their strategy.
To help you in this, I have a special offer for you.
I have research the market for a long time looking for the best budgeting software. I have downloaded free software from various websites, purchased a few specialty products and basically I’ve come to believe that there is only one product on the market worthwhile having.
Keep2Budget is quite simply the best product I have found. It sells for a ridiculously low price of around $30 or $40. It has a very easy-to-use interface, and is based on an old fashion model of putting your money into coffee tins for each category of your spending. Of course the coffee tins are not real; they are used simply as a metaphor and provide the blueprint for the way the software works.
In my next newsletter, I will be offering free copies of this program to the first 10 people to register with me.
But, if you wish, you can contact me now and get your free copy before the newsletter goes out.
Call me on 1300 133 193
My final point is this: this is not the end of a boom market, I think it’s just a blip along the way. The world economy is in a bit of turmoil due to the crisis in the US which will have a domino effect here in Australia. But the population growth in southeast Queensland is such that demand for housing will continue to increase with prices still steadily rising.
It might just be the time to set up your line of credit for future bargains right now. This will give you the flexibility to move on opportunities as soon as they arise, with the benefit of not having to pay for the money until you actually use it.
Call me and I’ll talk you through the details.
1300 133 193
