Your Mortgage Mentality In a Cash Flow Crunch
7 Coronation Drive, Queenstown
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Don’t let the cost of living and rising interest rates hold you back from becoming mortgage free.
A survey conducted by Westpac earlier this year showed that Kiwis are worried about the cost of living and the impact of inflation on their lives. They’re reducing their spending and finding ways to cut their costs or earn a little more money.
The prospect of a mortgage, or needing to refix, in 2022 is also instilling fear into the heart of Kiwis, with interest rates increased to over double what they were this time last year, and data from CoreLogic shows that first home buyers are currently paying $26,000 more in annual mortgage payments compared to mid-2020. It’s no surprise then that many first-home buyers are wondering whether now’s the time to buy or to wait a little longer.
While it’s good to gird your loins and tighten the purse strings when facing economic headwinds, inaction can cost you more in the long run. And while being conservative may feel like the right approach in the face of economic uncertainty, it could mean you miss out on future wealth-growing opportunities.
Uncertainty leads to indecision, and indecision leads to lost opportunities. So, how do we cultivate the right mindset and maintain momentum when times are a little tough?
Join Hannah McQueen, founder and director of enable.me, strategic coach and financial force of nature, live in Queenstown on the 5th of September.
She’ll take you through the financial impacts of inaction, why you really don’t need to be scared of today’s mortgage rates, and how you can find opportunities to grow wealth, even when your cash flow may be feeling the crunch.
*This seminar is for informational purposes only and does not constitute individual financial advice.
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