Chris Bates

speaker
1,659 appearances 5 recordings 1 series first heard Jun 2021 last heard Dec 2022

Chris Bates’s voice in public audio — every appearance, attributed to the second.

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But really try to use offset accounts if you can, especially on investment debt.
Get rid of your Amazon account, which you do.
That would be a big win for you, I think.
That's his favorite account.
Yeah.
One-click purchases.
Yeah, exactly.
I think that, you know, coming from financial planning days, I think it's not what you earn.
It's, you know, a lot of people get excited with, and this is society creating a perpetual money problem, right?
It's short-term credit.
even getting paid on a monthly basis with people who've got, you know, it's not judgmental at all, with potential lower financial literacy on how to manage money, all these marketing in the world, you get paid this lump sum and then there's all these costs, et cetera.
And so it's not what you get paid, say it's $10,000 a month for you as a couple.
It's once you minus off all your living costs, the fixed expenses, the things you really want to do to have a life,
that $10,000 reduces dramatically.
And that's what you sort of need to spend based on is what you've actually got left over after all those essentials.
And people realize they're earning a lot less than they think they are because they're not minusing off all their fixed costs.
Financial planners love this strategy.
You know, there's only so many strategies, you know, financial planners have in their toolkit, right?
And this is one that they would use.
I do have a bit of a worry with this strategy.
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