With the cost of living and interest rates rising in Australia, there’s never been a more important time to understand how to make the most of your money. Whether you’re wondering how to reduce your monthly expenses or how to best utilise the money you have for a more comfortable retirement, Tom Haigh from My Money Sorted answers all those burning issues.
In this episode of The Parenting Couch podcast, Rachel and Sarah sit down with money guru Tom Haigh from My Money Sorted, who shares his top tips for not only saving money, but how we can use it to set us up for a more comfortable life.
Money determines the house we live in, the holidays we go on, the clothes we buy, the meals we make… and our general levels of comfort and stability. But we don’t get taught about managing our money in school!
Tom is a local Dad to three kids… who is passionate about putting money-matters into a way that is easy to understand. In the interview, Tom explains…
- Is it better to fix your home loan at the moment, or opt for a variable rate?
- Why you should speak to a mortgage broker to ensure you’re getting the best rate.
- Why right now it’s a “buyer’s market” for real estate.
- How to save money on day-to-day living expenses… should you be cutting back on the smashed avo, or reviewing your direct debits?
- How to manage credit card debt.
- Why putting extra money into your superannuation is good for tax now, and good for your retirement!
- Why you need a clear plan to repay your debts before retirement.
- Why putting additional repayments on the mortgage can be a phenomenal way to reduce the term of the home loan and also the the amount of interest you pay.
- How to ‘enjoy the journey’ and not just focus on money saving.
- Why it’s important to reward yourself daily with the small things (like a takeaway coffee).
“Our survival mechanisms tell us that we need those instant rewards to keep chugging along. So, it’s important to reward yourself daily with the small things. Chase those big wins, the big savings and you can do that sort of stuff. Don’t be concerned about trying to nail everything. It’s not about perfection here. It’s about making progress. So, get started today, and you’ll feel a lot better for tomorrow and ultimately needs to come you’ll receive enormous benefit from having acted on.” – Tom Haigh, My Money Sorted
LISTEN TO THE INTERVIEW WITH TOM HAIGH
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Listen to the interview with Tom Haigh
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About Tom Haigh (My Money Sorted)
Tom Haigh is a father of three who is passionate about putting money-matters in relatable, personal contexts. His goal is to help young families find the best path to living more and worrying about money less!
Leveraging life experiences, Tom has written extensively about entrepreneurship, property investment, and various other investment-based topics and has been an active investor over the past 11 years.
His work has been featured in XY Adviser, news.com.au, Startup Success Story, and Hunter Headline.
Last year, Tom co-founded My Money Sorted… a website that provides Aussies with the right tools, insights and expert guidance to help you achieve your money goals.
Find out more about My Money Sorted.
Essential Details: My Money Sorted
- Website: My Money Sorted
- Facebook | Instagram | Twitter
- Subscribe: mymoneysorted.com.au/30-minute-recipes-for-success/
- Phone: Book a call with My Money Sorted
LISTEN TO THE INTERVIEW WITH TOM HAIGH
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- Kaz Cooke shares her tips for helping your tween through puberty
