Grant Clifton

There's a section in here where it talks about subscriptions.

Go through your phone, have a look.

Apple makes it quite easy.

You can jump in and see what you've got on subscription.

Most people don't.

And that $10, that $15, that $20 adds up, and it's going out every month.

And before you know it, you've got $100 going out

Where's that money gone?

Oh, that.

And then you try and figure out how to cancel it.

Yeah.

They put all these roadblocks in place to you have to go to this page, that page, tick this box, undo this, and then 50 questions before you can even cancel something that took you two seconds to sign up to.

So it's there to take your money.

So subscriptions, yeah.

Yeah, yeah.

Have a look at them.

And there's a section in the book about that.

the um is interest so yeah um you know people know what interest is what the rate is and most people go oh what's what's like when we're doing mortgages for example um what's the interest rate going to be um and and but what people don't understand is how interest works and the longer you take to pay something the more interest you're going to pay so when you go off to the bank and you get a mortgage they're going to give it to you for 30 years and they're going to give it to you on a principal and interest basis so you're paying the you know the

that loan off over that time period.

But the sooner you can reduce that principle, and there's great products here in Australia called offset accounts, but what I've been amazed at just in the eight months I've been doing finance here is that people don't use those offset accounts how they're supposed to.