Establish Wealth Podcast - Understanding Borrowing Capacity and Serviceability for Mortgages Introduction: Welcome to Establish Wealth, where Tiffany and Toby guide you through creating financial freedom via property, finance, and investing. Tiffany and Toby, property investors, mortgage brokers, and financial educators, empower listeners to navigate finances and build wealth. Key Topics Covered: 1. Introduction to Borrowing Capacity and Serviceability (00:21 - 03:31) Borrowing capacity: amount a lender allows for a home loan, determined by factors like income, expenses, debts, and employment status. Five Cs of credit assessment: character, capacity, capital, collateral, and conditions. 2. Understanding Serviceability (03:31 - 07:01) Serviceability: ability to repay a loan over its term, assessed with an added 2-3% on top of market rates. Factors affecting borrowing capacity: age, income, expenses, debts, and family responsibilities. 3. Income Assessment for Serviceability (07:01 - 09:08) Lenders consider various income sources, including regular jobs, rental income, and investments. Expenses, including debts and lifestyle choices, impact borrowing capacity and serviceability. 4. Calculation Methods for Serviceability (09:08 - 12:32) Lenders use ratios like net surplus, uncommitted monthly income, and debt service ratio to assess serviceability. Lenders tailor assessments to individual circumstances, using specific calculators. 5. Importance of Using a Mortgage Broker (12:32 - 14:12) Mortgage brokers facilitate the borrowing process, providing access to lenders and optimizing loan structures. Brokers prevent multiple loan applications, preserving credit scores and ensuring informed decisions. Conclusion: Seek personalized advice from professionals like mortgage brokers for optimal loan solutions. For inquiries or advice, contact Establish Wealth for tailored financial guidance. Disclaimer: Information provided is general and educational, not personalized financial advice. Listeners should consult professionals for advice tailored to their financial situation and goals. Stay Connected: Follow Establish Wealth for more insights on property, finance, and wealth creation. Reach out for personalized advice and support on your financial journey.   Website - www.establishwealth.com Email - [email protected]  &  [email protected] Instagram - Toby_MortgageBroker  &  Tiffany_MortgageBroker

Established Wealth Podcast Episode Show Notes: Maximizing Government Grants and Mortgage Solutions for Property Investment Introduction: Tiffany welcomes listeners to "Established Wealth," a podcast dedicated to achieving financial freedom through property finance, investing, and more. Tiffany introduces her husband and co-host, Toby, both property investors, mortgage brokers, and financial educators. Government Grants and Schemes for Property Investment: Toby highlights the episode's focus on utilizing government grants, schemes, and lending solutions to expedite property market entry and save money. Discussion begins with Stamp Duty exemptions and concessions, outlining eligibility criteria and benefits across New South Wales, Victoria, and Queensland. First Home Buyer Grants and Schemes: Tiffany elaborates on First Home Buyer Grants, detailing the $10,000 grants available in New South Wales and Victoria, and the $15,000 grant in Queensland. Criteria for qualifying properties and the importance of ensuring eligibility before applying are emphasized. First Home Buyers Scheme: Toby discusses the First Home Buyers Scheme, emphasizing its role in facilitating home purchases with minimal deposits, avoiding Lender's Mortgage Insurance (LMI). Specialized Loan Solutions: The shared equity scheme is introduced, wherein governments contribute upfront costs and gain equity shares, reducing mortgage repayments. Toby and Tiffany delve into specialty loans tailored for healthcare professionals, providing insights into eligibility and benefits. Importance of Mortgage Brokers: The significance of working with mortgage brokers in navigating grants, schemes, and lender options is underscored. Toby and Tiffany emphasize the role of mortgage brokers in providing personalized solutions for unique financial situations and long-term financial health. Diverse Loan Structures: A detailed exploration of various loan structures, including guarantor loans, family pledge loans, and split equity loans, follows. Specialized loans for farming, acreage land, commercial spaces, and bridging finance are discussed, catering to diverse needs. Credit Scores and Financial Wellbeing: Toby and Tiffany stress the importance of credit scores and offer guidance on improving them, emphasizing responsible financial habits and debt management. Conclusion: The hosts conclude by summarizing the episode's key points, highlighting the wealth of opportunities available through government grants, specialized loans, and mortgage broker expertise. Listeners are encouraged to seek personalized advice and support from Established Wealth for their property investment journey.     Website - www.establishwealth.com Email - [email protected]  &  [email protected] Instagram - Toby_MortgageBroker  &  Tiffany_MortgageBroker   Debt Helpline - 1800 007 007

[00:21] Tiffany: Hello and welcome to established wealth. My name is Tiffany. This podcast is for people looking to create financial freedom through property, finance, investing and everything in between. I'm joined by my husband and business partner, Toby. [00:34] Toby: Hello, I'm Toby. We are both property investors, mortgage brokers and financial educators. We strive to empower and educate people to understand their finances, enter and invest in the property market, and to set themselves up for the future and establish wealth.   Hello and welcome back to established wealth where we guide you through the ins and outs of finance and property. My name is Toby and I am a mortgage broker, property investor, financial educator and a property strategist. And I am joined with Tiffany, my partner in both life and business. [01:19] Tiffany: Hey, I'm also a mortgage broker, property investor and financial educator. Today we'll be speaking about the importance of mortgage brokers and conveyances and or solicitors when you're thinking about entering the property market. Let's touch on mortgage brokers first. [01:33] Toby: So why should you consider consulting a mortgage broker when thinking about entering into the property market? Or maybe you're thinking about purchasing your next property. Let's start by addressing common misconceptions. Many people believe that going directly to a bank is the best way to secure a mortgage. However, working with a mortgage broker can offer numerous advantages that you might not even get from a bank. One of the key roles of a mortgage broker is to act as your advocate. A broker works on your behalf, representing your interests and helping you navigate the complex world of mortgage lending. Let me explain how exactly the mortgage broker works. Essentially, a mortgage broker serves as a facilitator between you and various lenders, including banks, financial institutions. They assess your financial situation, discuss your goals and preferences, and then shop around to find the best mortgage options that suit your needs and that will align with your goals. [02:25] Tiffany: Now, you might be wondering how a mortgage broker gets paid. Interestingly enough, most mortgage brokers are free. As we get paid from the lender we pair you up with. We receive a commission percentage of the value of the loan paid directly from the lender to the broker and not out of the loan. This means that brokers have no incentive to steer you towards a particular bank. Instead, we're focused on finding you the best deal and on the back of that, another important aspect to consider is the best interest duty. Unlike banks, mortgage brokers are legally obligated to act in your best interest. They're not tied to any single lender and are obligated by law to find, construct and offer you the best unbiased advice tailored for your unique circumstances, but the benefits of working with a mortgage broker don't end there. Broker discounts are available for the life of the loan, saving you money over the long term. Additionally, a good mortgage broker will provide you regular check ins and comparisons to new products on the market, ensuring that you're always getting the best deal. And let's not forget about the paperwork. One of the biggest advantages of using a broker is the minimal paperwork involved. They handle the entire application process for you, saving you time and hassle. Plus, mortgage brokers have access to a wide range of banks and loan options that may not be available to every average customer. This means they can find solutions that are tailored to your specific needs and financial situation. We take your lending scenario to all the lenders on our panel and make them fight each other to produce the best deal in hopes to win you as a client. [03:53] Toby: Yeah, mortgage brokers seem pretty good, especially their expert advice is yeah, free. Now let's talk about the constraints of going directly to a bank. While banks may display that they offer convenience, they're primarily focused on their own bottom line. They're profit driven entities that may not always have your best interests at heart and do not fall under the obligations brokers do. Like the best interest duty, banks can only sell you products that they offer, which means they are not able to tailor their lending to suit your needs. Additionally, getting approval for a mortgage through a bank can often involve jumping through hoops and navigating a maze of paperwork and requirements. And perhaps the most concerning is the lack of support when going through the process and the ongoing support that you will get from a bank once your mortgage is approved. Banks dont check with you to see how youre doing. Youre left to navigate the ups and downs of home ownership all on your own. Banks also dont review your interest rate to match the current offerings. They also dont reduce the fees. If the new products they offer match yours with less or no fees. They let you continue paying the premium and hope you dont notice. So when it comes to securing your mortgage, its clear that speaking to a mortgage broker offers numerous benefits over going directly to your bank. From personalized service to access a wide range of products, a broker can help you find the right mortgage for your needs and goals and guide you through the entire process. [05:21] Tiffany: On a mortgage brokers panel will be specific lenders that do out of the box lending. So sometimes you can go to a mortgage broker if you have a bad credit score, if you have foreign income, if you have a lot of allowances in your payglo sometimes if you go directly to a bank, they don't actually take into consideration your allowances. So by using a broker they know which banks have different niches. So a niche in a bank could be that they specialize in self employed or they are great with multiple titles on the one loan. Some banks specialise in acreages and have certain specifications around that. Some lenders also have postcode restrictions, so you might be looking in a specific location that has a postcode restriction with one lender, but with another lender you can lend up to 95%. Only a broker would know that. They also have access to government grants and schemes that you may be eligible for to reduce your LMI, your stamp duty. Maybe you're in a certain profession that you can get a discount or something waived, some sort of fee waived, and brokers have access to those. If you go directly to a bank, the bank that you choose to go directly to might not even be on the panel to offer those government grants to you. [06:38] Toby: Yeah, you could really be missing out and making a huge mistake, a home loan being your biggest financial decision. I wouldn't be risking that by thinking you could do it by yourself and go and direct to a bank. [06:48] Tiffany: Now let's touch on the importance of having a good conveyancer or a solicitor. Purchasing a property is one of the biggest financial decisions that you'll ever make. It's not something that you should take lightly. Having knowledgeable and experienced conveyancer or solicitor in your team is essentially lets clarify the difference between a conveyancer and a solicitor. While both assist you in the property transactions, conveyancers specialise specifically in property law and are licensed to handle the legal aspects of property transfers. Solicitors, on the other hand, have a broader legal scope and can offer a more comprehensive legal advice beyond property matters. So why is it important to enlist the help of a conveyancer or a solicitor when purchasing a property? For starters, navigating the legalities of property transactions can be incredibly complex. Reviewing contracts to conducting title searches and ensuring all legal requirements are met. There are numerous steps involved in the process, and having a professional who understands the ins and outs of property law can save you a lot of time, stress potentially costly mistakes. A good conveyancer or solicitor will act as your advocate through the entire purchasing process. Another key reason to enlist the help of a conveyancer or solicitor is their expertise in spotting potential issues or red flags that you may overlook as a buyer. From zoning restrictions to title defects, there are numerous factors that can affect the value and legality of the property and a skilled professional will know what to look for and how to address these concerns. If they arise, they'll hand all the necessary paperwork, liaise with the relevant parties and ensure that the deadlines are met, allowing you to focus on other aspects of the transaction with confidence. [08:21] Toby: Yeah, and having a good mortgage broker aligned with a good conveyancer. It can just streamline the whole process and make it really stress free for you. [08:30] Tiffany: Mortgage brokers and conveyancers need to talk to each other and conduct business together behind the scenes to help the transaction. The property process be smooth all the way until settlement. [08:39] Toby: Yeah, and most mortgage brokers have a conveyancer that they normally work with and work well with. And most conveyancers probably have a mortgage broker that they work well with. And yeah, if you have a deadline as well, it's essential that you got both these parties that can work well with each other to really speed up the process. So in summary, when it comes to purchasing a property or entering the property market, having a good mortgage broker, broker and a conveyancer on your side is not just important, it's pretty much essential. From ensuring you're in the best financial position to actually go out there and purchase a property to all those legal requirements. You'll be provided expert guidance every step of the way. A skilled professional can make all the difference in helping you achieve a smooth, successful property transaction. [09:20] Tiffany: When you're purchasing a property, be it your first one, your next one, or your investment property, you really need to build an entire team. So your entire team will definitely consist of a mortgage broker and a conveyancer, that's for sure. But you also need to look at a few of the other people that could be involved, as in your building and pest inspection, you need to make sure that that's done thoroughly and it's not just done by your mate that's a chippy or your brother. I know there's a lot of people out there that do that. You need to make sure that if you are moving interstate or you're needing some sort of requirements when it comes to furniture, that you're looking into shipping companies or removalists, I know that on the day if something goes wrong, but you may need to dip into your emergency fund just to pay for that removalist come in a certain amount of time to help you. But if you have things planned which we will discuss in later episodes of who you need to fill out to have your perfect property team. [10:12] Toby: Because when making a property purchase, having a team that you can rely on and know that will get the job done. It just removes that stress, knowing that everything's going to be taken care of for you. [10:22] Tiffany: It can help you plan and make things a lot more cost effective for you as well. [10:25] Toby: So until next time, that's all for today. Thank you for joining us on this episode of Established wealth. [10:32] Tiffany: The information just discussed is not to be taken as advice. It is general in nature, meaning it does not take into account your own objectives, financial situation, or needs. It is purely for educational purposes only.   Website: EstablishWealth.com.au Email: [email protected] [email protected] Instagram: Establish.Wealth Toby_MortgageBroker Tiffany_MortgageBroker

In this episode, we explore the basics of building wealth. We'll help you understand your money situation, make a smart budget, and decide where to put extra cash. Whether you're new to money management or want to improve your skills, we've got tips to help you reach your financial goals. Tune in and start your journey to financial freedom!         [00:21] Tiffany: Hello and welcome to established wealth. My name is Tiffany. This podcast is for people looking to create financial freedom through property, finance, investing and everything in between. I'm joined by my husband and business partner, Toby. [00:34] Toby: Hello, I'm Toby. We are both property investors, mortgage brokers and financial educators. We strive to empower and educate people to understand their finances, enter and invest in the property market, and to set themselves up for the future and establish wealth. Hello and welcome back to the first episode of Establish wealth and I'm joined with Tiffany, my partner in both life and business. [01:11] Tiffany: Hey, today we're kicking off our first episode, diving into the fundamentals of financial empowerment and understanding your current financial position. This episode is the foundation of building a solid financial future and establishing wealth. Whether you're aiming to enter the property market, become mortgage free, or build long term wealth through property investment, understanding your finances is fundamental, most definitely so. [01:37] Toby: Understanding your financial position allows you to know where you are financially. It highlights and helps you chart a course to where you want to go and what you will need to do to get there. It all starts with knowing your income and expenses inside out. Let's discuss how you can do this. So you start by calculating all your sources of income for the month, from your salary to any side hustles or rental income that you got and note that down. Then you need to work out your monthly expenses. This means anything from rent, mortgage payments, groceries, fuel, car rojo, dining out subscriptions, insurances, electricity, water rates and if your car reggio is a yearly payment, then you need to divide that yearly payment by twelve and work out the monthly amount. I would even go as far as working out Christmas present budget, birthday present budget and divide that number by twelve. Work everything out that you might spend your money on and put that into a monthly amount. Once you've identified your monthly income and your monthly expenses, you can now determine your monthly surplus, meaning the money that you have left over after all your expenses have been paid for. [02:40] Tiffany: So when you do this, we strongly suggest that you print out your bank statements from the last three to six months and grab a highlighter. And whilst working out your expenses, highlight those expenses that are non essential expenses. I would honestly recommend to make this a date with your partner or book in time in your calendar. Grab a bottle of wine if that's what you're into, and do this you will be blown away with the amount of non essential expenses. If you have been struggling with money, this will help you identify why you really want to think about these non essential items you're spending your money on and if it's worth your financial future, or if this spending habit aligns with your values. Do yourself a favor and calculate those non essential spends and see how much you could be saving each month. It'll blow your mind. This money you could be putting towards your financial goals. [03:24] Toby: Yes, and speaking of goals, setting them is crucial. Whether it's building an emergency fund, paying off your debt, saving for a deposit or investing for your future, clear goals keep you focused and motivated, and with those goals you can create a budget tailored to you to achieve those goals. [03:41] Tiffany: Yes, a budget. Many people think that this means restrictions or limitations of your freedom. This is a huge misconception. Budgeting is a crucial skill for anyone looking to take control of their finances and build a secure future. A budget is your roadmap to financial success. It creates freedom and does not limit you at all. It liberates you and makes managing your money stress free, as all your money is allocated for a purpose. Creating a budget is not just about tracking your expenses, it's about aligning your spending with your financial goals and values and priorities. So once you have determined your financial goals, both long term and short term, and you've noted down your expenses, you can then categorise them into fixed expenses, bills, personal expenses and get a clear picture. Fixed expenses are things like your mortgage, utilities, phone bill, carreggio, birthdays and Christmas presents, insurance subscriptions, while personal expenses include groceries, dining out, entertainment and fuel. Based on your income and expenses, set realistic limitations for each category. Be honest with yourself and what you can afford and where you need to be cutting back. And don't forget to prioritize your spending. Make sure the essentials like housing and groceries are covered first. Then allocate funds for your saving goals and discretionary spending. Make sure you budget for things like birthdays and Christmas presents. Small contributions throughout the year can make these occasions stress free as you have the funds allocated and sitting there ready to be used. You don't have to be digging into your savings or stressing over where you're going to pull the money from. [05:10] Toby: And the best advice I can give for budgeting is automate everything. Set up your bills as a direct debit. Automate your banking transfers. That way you do not have to think about it. The money is allocated, the debits are set up to pay everything on time. This will allow you to minimize the stress you have around bills and money and it will give you the freedom knowing what you have to spend without having to think about it all the time. You can also use budgeting tools. Utilize spreadsheets or apps to help you track your income, expenses and create your budget. These tools can make the process much easier and more efficient if you want. [05:43] Tiffany: And really hold yourself accountable when it comes to your budget. Delayed gratification will be your best friend. Your focus should be on maximizing your surplus. Aim to create a budget that generates a surplus at the end of the month. If you need to cut back on those non essential items, then cut back so then you can move forward financially. You will thank yourself in the next three months for giving up those small non essential items and you will forget why you even like to spend the money on them. We're not saying you can't enjoy yourself, just do it in moderation and in a financially efficient way and create a budget around what you enjoy doing instead of dining out or getting Uber eats four times a week. Maybe try to cut that down to one or two times. If you enjoy a coffee on the way to work, add that into your spending. But do you really need three coffees every day? This could save you a lot of money over the next three months and that surplus can be used to build your savings for a deposit, pay off debt faster, or invest for the future. An emergency fund is like a financial safety net, providing peace of mind and security when unexpected expenses arise. Let's talk about how you can build an emergency fund into your budget. So to begin, you need to determine how much you want to save for your emergency fund. There are a lot of different opinions on the amounts that you should be aiming for in your emergency fund. We believe your goal, individual circumstances and financial situation will be different from the next person. So this decision is very personal to you and should be a number that makes you feel comfortable. That could be three to six months worth of living expenses or possibly just having $1,000 will make you feel empowered and you can revisit and change this number as life changes. Your emergency fund goal could be a specific dollar amount, like $10,000. Whatever it may be, start working towards it by allocating funds in your budget. If this is not possible in your current situation and there is no additional money at the end of your necessities, then that is okay. Learning this now will benefit you when you're in a situation that changes. Treat saving for your emergency fund as a non negotiable expense. If you do have a surplus, even if it's only small, allocate a specific amount of money each week or month towards your emergency fund savings goals. Make it effortless by automating your savings set up automatic transfers from your account to your emergency fund account. This ensures that the portion of your income goes directly into your emergency fund without having to think about it. Building an emergency fund takes time, so be patient and consistent with your savings effort. Celebrate milestones along the way, like reaching one months worth of expenses or hitting half of your savings goal. And if you ever need to dip into your emergency fund for unexpected expenses, that's okay. This should not carry any guilt or anxiety. This is exactly what its purpose is for, to help you in these situations and not have to rely on debt. But when everything is back to normal and you can replenish your funds, make it a priority. Adjust your budget temporarily to allocate more towards your emergency fund and until it is fully replenished. Having an emergency fund not only provides a financial safety net for unexpected expenses, but can also help you stick to your budget and achieve your financial goals. [08:40] Toby: Our fridge actually died recently and we had to dip into our emergency fund and it was, yeah, stress wasn't there. You knew the funds were there and we were happy to delve into them to get a new fridge. [08:49] Tiffany: And it came at the worst time. It was just after Christmas. We definitely didn't have the budget in our spendings account for a $2,000 fridge, but our emergency fund, it was right there, ready. [09:00] Toby: So now that you got that emergency fund set up and you have decided on amount to transfer into the fund from your surplus, it's now time to allocate the remaining surplus funds from your budget toward your other financial goals. Whether your goal is to pay off debt, save for a house, deposit for a dream vacation or invest in your future, knowing how to effectively allocate your surplus funds is key. So once you've identified your goals, prioritise them based on their importance and urgency. This will keep you focused and allocate your surplus funds effectively. Take a look at your list of financial goals and decide how much money you want to allocate to each goal. Consider your priorities and timeline for achieving each goal. For example, if you have a high interest debt, you may want to allocate more of your surplus funds towards paying off your debt quickly. Once you've decided how much money you want to allocate toward each goal, set up automatic transfers from your account. For each goal, I would only suggest having maybe two accounts, one for long term goals, one for short term goals. Now, just a few things I want to touch on here in regards to saving money. For the purpose of saving money, if you have a home loan, then you should not be having this money in a savings account. You should be putting all your savings or surplus into a free unlimited redraw facility where that money can actually benefit you most. Now, for people who do not understand the purpose of a free unlimited redraw, it allows you to deposit money into your home loan that actually reduces the principal on the loan, and by doing this, you minimize the interest charged to you. This saves you a lot of money in interest. By doing so, you reduce your loan term dramatically and it being a free unlimited redraw, you can access this money whenever you want to use on things like your family holiday or weekend away. Understanding that there is a significant difference between interest earned and interest saved, you will be financially better off by minimizing the interest charged on your home loan at 6.5% and you will save more money than you could make by having it in an interest savings account earning 5% interest. I'll go into this more on another episode. [10:50] Tiffany: Also, just adding onto that, if you're using your redraw facility instead of an offset account, the way it works out better for you is if it's sitting in your redraw. Essentially that money is yours sitting in an account, but it's reducing the principal amount on that loan and the interest charged. Seeing it in an offset account will only reduce the interest charged. If it is actually 100% linked offset account, more of that money that you'll be paying back will actually go towards the principal amount of the loan, reducing that debt faster. Just by having that money sitting in your redraw account and not in an offset account. [11:26] Toby: And your offset doesn't work. If you got the account there and you're there down the shops tapping away with your card and minimizing that money anyway, so. [11:33] Tiffany: Exactly. And interest is calculated daily on your home loan and then charged monthly. So they're not looking at your bank account every single day to see what's going in or out. And if they are looking at your bank account for a snapshot, it's only a one time access that they can see what's going on in there. And have you ever actually received interest back for using an offset? [11:55] Toby: Yeah, I doubt it. I've never known of a bank crediting you money for your offset. If you have an offset and you use it like that, then I'd be rethinking your strategy with your home loan. But stay on topic with this episode and keep on going. [12:08] Tiffany: Now, if you don't have a home loan and you're wanting to still put a portion of money somewhere for long term savings. Long term savings as in you'll be consistently saving and contributing towards that for next ten plus years. Creating financial freedom or creating wealth for yourself. You could look into purchasing a different type of asset like term deposits, ETF's, shares, bonds. These types of assets usually seem a bit unattainable, but with new investment platforms and apps for your phone, investing couldn't be any easier. You can start with as little as $0.01. We will dive more into this in the future episodes. Definitely do your research before making a decision and make sure you understand what you're purchasing and comfortable with where you are putting all your money into. [12:45] Toby: So yeah, determining what financial goals you want, allocating those funds towards those two accounts. If you've got a home loan, be putting your savings into that home loan. And if you do have long term savings or you want to build a long term savings account, I'd be yeah, looking at those platforms that TIFF mentioned. [13:01] Tiffany: And a very smart man once said, if you have debt, then you don't have savings. So strategically reduce your debt before you start to save. But before that, an emergency fund needs to be there ready for you, even if you have debt to stop you from falling back into debt. So I'd still structure yourself to be creating that emergency fund as you're paying down debt, but I wouldn't be saving for a big financial goal until those debts are gone. [13:30] Toby: Yep, 100%. Thanks for joining us and we'll see you next time on establish wealth. [13:35] Tiffany: The information just discussed is not to be taken as a vice. It is general in nature, meaning it does not take into account your own objectives, financial situation or needs. It is purely for educational purposes only.   Website www.establishwealth.com.au     Email [email protected] [email protected]   Instagram @Establish.Wealth @Toby_MortgageBroker @Tiffany_MortgageBroker

Introduction into Establish Wealth and what this podcast is about. Establish Wealth is a podcast for people looking to create financial freedom through property, finance, investing and everything in between. Hosted by Tiffany and Toby, the hosts are partners in both business and life, they own a mortgage broking company and are married with two kids. they are both property investors, mortgage brokers and financial educators. They strive to empower and educate people to understand their finances, enter the property market and invest in the property market and to set themselves up for the future and establish wealth. [00:21] Tiffany: Hello and welcome to established wealth. My name is Tiffany. This podcast is for people looking to create financial freedom through property, finance, investing and everything in between. I'm joined by my husband and business partner, Toby. [00:34] Toby: Hello, I'm Toby. We are both property investors, mortgage brokers and financial educators. We strive to empower and educate people to understand their finances, enter and invest in the property market, and to set themselves up for the future and establish wealth. [01:02] Tiffany: Welcome everyone to the very first episode of Establish wealth. I'm Tiffany and I'm here with my partner in both business and life, Toby. [01:10] Toby: Hey everyone. Yes, we are partners in both business and life. We work together in our mortgage broking business and we are also husband and wife. [01:18] Tiffany: Let's dive into what established wealth is all about. We are two young parents balancing work and life with a big goal of establishing our own wealth through property and investing, working towards our goal of financial freedom and living our best abundant life. We are both mortgage brokers, financial educators, and Toby is also a property strategist on a mission to educate and guide others to obtain and establish long term wealth for themselves. On this podcast, we'll be talking about a wide range of topics from unpacking loan applications behind the scenes of mortgage broking, unpacking our goals and how to create your own. All things relating to finance, wealth creation, property investing and everything in between. [01:56] Toby: Whether you're thinking of getting into property already in the market or just wanting to learn more about finance, or maybe you're even a seasoned investor, we've got something for you. But it's not just about the technical aspects of finance. It's about creating healthy financial habits, but still living the life and enjoying yourself along the way. We are on our own wealth creation journey. We have been in the position of being confused and feeling financially stuck. We have had the experience of overcoming the financial burdens that are holding you down and how that can change your life. We will talk about our own experiences and insights from us, purchasing property, setting and achieving financial goals and the day to day challenges of balancing work, family and our personal aspirations. Being wealthy extends far beyond finance and it's about being abundant in all aspects of your life. [02:48] Tiffany: And we won't be doing it alone. We'll be bringing in guest speakers, professionals and individuals from the property and finance industry and other others who are on this journey themselves to share their expertise and insights with you. Both of our financial wealth journeys started with listening to a podcast, learning about the fundamentals to create wealth and implementing the changes in our lives. [03:07] Toby: With starting this podcast, our goal is to inspire, empower and educate you to take control of your financial future and open you up to the possibilities that can lie ahead and start to establish wealth for yourself. Whether you're a family like us or an individual looking to build wealth for the future or simply love to learn more, we believe that with a few minor adjustments, some finance planning and a commitment to learning and growing, you can achieve your financial goals and life goals. [03:34] Tiffany: For a lot of people, finance is their biggest stress and concern. They don't fully grasp the financial concepts. So by breaking down this first and understanding your finances opens the door to other opportunities in life. So if you're ready to take the first step towards understanding your financials and creating wealth, then you're in the right place. Join us on our journey as we share our stories, our successes, and yes, even our setbacks. [03:57] Toby: Thanks everyone and we are excited and hope you join us for future episodes. If you have any questions or want us to talk about a subject that you might be struggling with or finding hard, reach out. Our links are in the information below in the show notes. [04:10] Tiffany: We're excited for what's to come in the future. Episodes come along with us on our journey to establish wealth. The information just discussed is not to be taken as a vice. It is general in nature, meaning it does not take into account your own objectives, financial situation or needs. It is purely for educational purposes only. Website www.establishwealth.com.au Email [email protected] [email protected] Social Media Instagram - Toby_MortgageBroker Instagram - Tiffany_MortgageBroker