Brendan Malone

speaker

224 appearances 1 recordings 1 series first heard Nov 2020 last heard Nov 2020

Brendan Malone’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · How to invest with just $5 (micro-investing in Australia) · 2 Nov 2020 podcast

We see people, people have rung us and said, the Daily Telegraph tells me $35 billion wiped off the market.

Well, what does that mean to me?

It was half a percent or something like that.

So it's by doing it is the education and understanding

I don't think there's a need to graduate from something like Raise.

There might be, you might diversify out of Raise and leave a balance there.

But if Raise is working for you to get this sort of savings habit and awareness of your spending, and that's one thing that sort of surprised me and the feedback we've got from customers, because your transactions run through Raise, people are being aware and being honest of where they're spending their money.

um you know the guys have got okay look i have a thousand dollars on my credit card at the end of each month i usually just pay it it could be 900 one month or a thousand eleven hundred the next i just pay it because it feels right what raise does is list out those transactions for you and you can you can spot if something's a lot is not what expected and one of the guys here in the office actually cancelled his itunes account um two and a half years ago but he saw it come through because it was 2.99 at the time he didn't

know that he was paying $2.99 more.

So he shot off an email with a confirmation of his closure back over to the iTunes guys and they refunded the money.

So I don't think there's a need for a graduation until you're very comfortable and aware and educated on both the market and also your spending habits or your behaviours.

That's it.

It's not an all product.

It's an end.

There's a couple and compounding is sort of the key one.

I think it all comes down to behaviour, Owen.

It's the teaching or having the ability to save because that's going to benefit in the long run and you think of the lifestyle and I've just had a baby so I've got to think about that savings ability or what I need for that.

It's creating that habit and, you know, one thing I'm very...

uh happy with raise from the point of view of many of our customers is some of them put in their whole paycheck because they know that if they leave it in their bank account they will spend it um so you know yes you can have your money back um you sell your etfs it takes two days for the asx asx to settle those etfs then we transfer you the money so that impulse buy sort of things disappeared um but it forces people to save a bit more so i think um

If they can get in that habit, everybody says they've got a budget.

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