Bright Spark Money | Financial consultant
Bright Spark Money
Phone: +61 498 203 773
Reviews
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24.01.2022 Financial instability and insecurity is not just something that effects young people. It effects people from all walks of life If you want to get you money under control. You need to take the first step. Reach out.
21.01.2022 I was discussing the future with the client late last week. He runs a successful company and has various advisers in tow. The conversation started with him telling me that he was good with money, didn't need help and had a handle on most of the things. We are discussion about what was important to him and his wife, and what they're intending on doing in the future one of the biggest questions was what should they do round paying off the house. The first question asked them wa...s around what their intentions were long-term was this the forever house or just someone for just now. Everyone else had missed this. While what they were doing currently seemed like it was in the best interest, I pointed out that if they maintain that it was going to cost them over $5000 per year in extra tax, and this would continue over the next ten or so years. I also showed them how they could pay off their mortgage in less than three years, as opposed to 7 at the moment. I and then armed them with the correct questions to ask both his accountant and mortgage broker so they could make this happen. If you need help looking at your blindspots or want to get better with money and feel in control, let's start the new financial year getting things that have been put on the back burner sorted.
14.01.2022 Happy Fathers Day to all of the Dads and Grandfathers out there. You will always be our heroes
12.01.2022 The problem with chains is that they are designed to hold things in place. It is the same with debt, it is designed to hold you in place so that you cannot move forward. One of my existing clients is someone who has a massive chain holding them back. They need to clear it before they concentrate on other important things to them such as buying a house, overseas holidays etc. The debt is mainly in the form of consumer debt and they pay on average 18.5% for the privilege. Just... think about that for a moment for someone who is earning $80,000 they actually need to earn $131,578 to repay that before interest. At the current rate of repayment, they will have to earn approximately $184,000 to repay this debt. So if they did not spend a cent on anything other than debt repayment then they would be debt-free buy Grand Final Day 2022. Obviously, this is unrealistic. Currently, they are on track to be debt-free by July 2024. That mean 4 years of not living where they want to live, 4 years of delayed holidays, 4 years of life on hold. We are in the process of helping the client put together a game plan to get a grip of their money. This is not about restricting them but empowering them with their money. We haven't asked them to live off baked beans and toast but showed them what money decisions they are making and what the long term impact is for them. The result. They have still got a way to go but they will be debt-free in under two years and within another two years they will be in the house of their dreams with a sizable deposit and have a clear plan of action so they can have the lifestyle which they want. It's not that they are exceptionally bad with money, they just aren't great. By holding them to account and educating them we will save them over $20,000 dollars in interest costs. Not only that but by July 2024. We will have them in their own house or they will have a deposit of over $100,000. If you want to know how we do this there is not secrets tax tricks or dodgy investments. It is about defining what is important to you Measuring and reporting and keeping people accountable. If you want to have a 15 min discovery call to see if we can help send us your best GIF.
09.01.2022 The Amazing Secret Sarah used to take the Family on A Holiday To Vietnam Two years ago, Sarah and her husband Tom came to see me Increasingly frustrated with the fact they have a good income, paying down debt and sacrificing the lifestyle they wanted. The last time we holidayed was 3 years ago or longer. They worked hard both at work and at home raising a family. Where does the time go? And the money we earn? They hated sitting down with the accountant at the end of the year ...and seeing how much they earnt, and how little was in their savings at the end of the year. Then I asked themWhat do you spend your time doing and where do you like to spend money? And you know what they said? Sarah and Tom were like a lot of other people focusing on family, bills and work. No time for finances or dreaming of goals. When they did speak about money it was generally one spend more than the other, then they would argue about it. Sarah tried "barefooting it" but found that it didn't quite work for them, and it also got too confusing, and they didn't know if it was working for them or against them. And then the turning point happenedWhat really did we do with our money? Do we manage it in the best manner? What could we do to be better?... Sound Familiar? We discussed 3 simple steps to get their finances on track, so they could understand where it all goes... The realisation of where their money was going horrified them....Sarah made changes right away and even saved a trip to Vietnam for the whole family ...Tom was inspired too. As a result, they have clear goals, no insecurity about income and live the lifestyle they want. They are now paying down their debt at a rapid rate and were enjoying their holidays overseas regularly. What are you doing to reach your goal? Comment below. If you want a copy of our scorecard to see what sort of financial position you are in comment Moolah below
