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You're Probably Paying Too Much!


We’ve all heard the saying “there are two things guaranteed in life - death and taxes”. There’s actually a third thing ... and that’s “overpaying”.

In our lifetime, we’ll most definitely overpay by thousands and thousands of dollars. Whether it's from buying that expensive latte at a franchise coffee shop or paying $150 for a pair of shoes that went on sale the next day for $120. The good news is, some of this “overpaying” falls within our control. We might not be able to tell the shoe shop when to have their sale, but we can definitely decide where to buy our coffee!

While we have the power and control in our hands, we seldom use it fully. Sometimes we choose not to explore options because of a lack of understanding or confidence – or maybe it just feels like too much work. People make decisions for different reasons, however, one of the most common reasons is convenience. As humans, we instinctively move towards the easier “less hassle” option. This same tendency to avoid the extra work will cost most people money, in some cases thousands of dollars, or more.

When it comes to mortgages most of us are overpaying with above-average interest rates. To put things into perspective, shaving 20 points on a $500k loan means saving $1,000 a year. Of all things we can overlook, our biggest financial commitments should not be amongst them. There’s an abundance of information online, but where do you start? This is where experience and advice from a professional are paramount.

Would you contact a locksmith to fix your plumbing problems? Of course, not! So why waste countless hours sifting through different lenders, comparison sites and a mountain of information when you can ask someone with the professional expertise to do that for you? There’s nothing easier, or more convenient than getting someone else to do the hard work, instead of doing it yourself.

When you seek the help of an industry professional, whether it be to install new plumbing or a better home loan, you’ll save yourself precious time. The professionals you hire can usually get the job done more efficiently than you, saving you both time and stress – Its what they’re supposed to do – it's their craft!

Stop overpaying on your home loan – and challenge me to see if I can find you some genuine savings.

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