VEP Strategies

This is how we do it!

New business cards coming 🤩

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Refinance and Complex Purchase win!

VEP is having a bit of Self-Employed Refinance run!

In the last couple of months we have helped a few local business owners restructure their finances which will help them get to where they want to be.

Excited to see what’s next for them!

For the second straight month, the Reserve Bank of Australia (RBA) held official interest rates steady at 4.10%.

Market commentators were split ahead of the decision, with some expecting a rise due to the strong job market. However, consumer price index figures recently released by the Australian Bureau of Statistics found annual inflation slowed to 6.0% in the June quarter, from 7.0% in the March quarter.

In light of this, RBA governor Philip Lowe said the board had left rates on hold to give it more time to assess the economy.

However, he did not rule out more interest rate rises.

Full RBA statement here:
https://www.rba.gov.au/media-releases/2023/mr-23-19.html

“Scratch. Wampum. Dough. Sugar. Clams. Loot. Bills. Bones. Bread. Bucks. MONEY.

That which separates the haves from the have-nots. But what is money? Well, it's everything if you don't have it, right?

Half of all adults have more credit card debt than savings. 25% have no savings at all. And only 15% of the population is on track to fund even one year of retirement. Suggesting what? The middle class is evaporating? Or the Dream is dead? You wouldn't be sitting there reading this if the latter were true.

You see, I think most people just have a fundamentally flawed view of money. Is it simply an agreed-upon unit of exchange for goods and services? $3.70 for a litre of milk? Thirty bucks to cut your grass?
Or, is it an intangible? Security or happiness. Maybe peace of mind.

Let me propose a third option:
Money is a measuring device.

You see, the hard reality is how much money we accumulate in life is not a function of who's prime minister or the economy or bubbles bursting or bad breaks or bosses. It's about work ethic and choices. It's about bucking the media's opinion as to what constitutes a good parent. Deciding to miss the game, the play, the concert, because you've resolved to work and invest in your family's future. And taking responsibility for the consequences of those actions.

Patience. Frugality. Sacrifice. When you boil it down, what do those three things have in common? Those are choices.

Money is not peace of mind. Money's not happiness. Money is, at its essence, that measure of a man's choices.”

- Ozark 2017

YIKES! 😱 does your home loan statement look like this??

Over 2% increase over the last 6 months! 🫣

Unfortunately this has become a familiar sight for us here at VEP.
There’s no denying these are scary, scary times and we all have to weather this storm.

Get in contact with your bank or local broker to see what you can do!

ATTENTION NSW FIRST HOME BUYERS!!

NSW Premier Dominic Perrottet passed the state's stamp duty reforms in Parliament, which unlocks new legislation for first home buyers.

First home buyers in New South Wales are now able to choose between paying a smaller annual fee or a large upfront stamp duty on their first property.

From January 15, 2023:
The First Home Buyer Choice covers properties costing up to $1.5m, or up to $800k for a block of land intended for construction.

"NSW Treasury data shows the breakeven period between upfront stamp duty and an annual property fee would be 36 years for an $800,000 apartment, 28 years for a $1 million townhouse, and 26 years for a $1.25 million house," the statement reads.

The NSW Government has allocated $728.6 million to First Home Buyer Choice over the next four years.

©skynews