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HFN The information is provided in good faith and derived from sources believed to be accurate and current at the date of publication.

The information on this page is factual information only and is not intended to be financial product advice, legal advice or tax advice, and should not be relied upon as such. While all care has been taken to ensure the information is correct at the time of publishing, superannuation and tax legislation can change from time to time and Her Financial Network is not liable for any loss arising from reliance on this information, including reliance on information that is no longer current. We recommend that you seek appropriate professional advice before making any financial decisions.

09/10/2021

🎉Giveaway 🎉

To celebrate the launch of our podcast We are giving 3 lucky 🍀 followers the chance to win the following…

A Her Financial Network Hoodie (trust me you will want one for next winter)

And

A copy of our favourite investment book 📚 (for your summer read)

To enter

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Winners will be drawn next Friyay

28/09/2021

It’s called super contribution splitting and you should definitely know about it!

23/09/2021

Be kind to yourself & invest in you!

21/09/2021

Your 30’s can often feel like you’ve arrived into adulthood with a loud CRASH and BANG.

So we’ve come up with our TOP 5 quick tips to help you navigate your 30’s 💪🏼

This is a decade where the financial decisions you make are more complex, typically have an impact on others, and are costly as you may experience mile stone life movements like career changes, getting married, starting a family or buying your own home.

Not only must you cover the costs that arise as you experience these significant life changes, many people in their 30’s are also consciously preparing and actively investing into their wealth creation plan for the decades to follow.

Given your 30’s represents the opportunities to ramp up your career as you progress towards what could be your peak earning years, you may also have greater financial responsibilities to consider. So, it’s important to develop a clear financial plan and set out realistic goals to help you promote capital accumulation and wealth for the years ahead.

Check out our blog for more insights!

’s

14/08/2021

Redraw lets you access extra repayments you've made on your loan.

The contracted repayment amount is the lowest amount you need to pay your lender for your home loan.

Anything paid above the minimum repayment may allow you the option of accessing a redraw facility (if available) or taking a repayment pause

It’s a facility attached to your loan, not a separate deposit account like the offset account.

This means that it doesn’t give you the same flexibility to access the money in the manner that an offset account may.

If your loan has a redraw facility, when you make payments to your loan ahead of the contracted repayments, then this extra amount:

(1) reduces the balance owing on the loan

(2) appears as ‘available’ for redraw, meaning that you may be able to withdraw these funds from the loan

08/08/2021

Ways to structure you home loan and what it all means?

Principal and Interest - The principal and interest payment on a mortgage is probably the main component of your monthly mortgage payment. The principal is the amount you borrowed and have to pay back, and interest is what the lender charges for lending you the money.

Interest Only - With interest only loans, borrowers will pay down just the interest portion along with any associated fees for a fixed amount of time (usually no more than five years). Since your repayments won’t go towards paying off the principal, it will remain the same unless you choose to make extra repayments.

Variable Rate - A variable rate home loan is exactly what it sounds like: a home loan on which the interest rate can fluctuate, varying up and down at any time. Changes up or down in a variable interest rate are based on factors such as the RBA cash rate, changes in market interest rates, or business decisions made by your lender

Fixed Rate - Is a home loan with the option to lock in (or ‘fix’) your interest rate for a set period of time (usually between one and five years). One of the main advantages of this is cash-flow certainty. By knowing exactly what your repayments will be you’ll be able to plan ahead and budget for the future.

However with most lenders you cannot use an OFFSET account against a fixed rate loan.

There are only a couple of lenders that offer fixed rate home loans with 100% offset accounts.

Most fixed rate loans do not let you use an offset account.

05/08/2021

An offset account is a transaction or everyday banking account that is linked to your mortgage. Every dollar you have in that account 'offsets' the balance of your loan – reducing the amount of interest you pay every month.

3 ways to get the most out of your offset account

1) Put any savings straight into your offset account

2) Deposit your salary into your offset account

3) Credit card payments and your offset

The more money you can keep in your offset, and the longer you keep it there, the more you will save.

If you are really disciplined, you could use a credit card to defer everyday expenses by being clever with the interest free payment period.

25/07/2021

Meet our Co-Founder Felicity Thomas

Felicity is a Senior Private Wealth Adviser at Shaw and Partners and has been providing financial and investment advice for over 9 years.

Felicity is known for being a problem solver. She explores all possible strategies to ensure her clients achieve their financial goals.

She is a long term investor and likes to discover and invest in innovative companies that are usually before their time.

An example of this is her first investment in a company called Galaxy 🌌 Resources (ASX: GXY) a global lithium company

She invested in this before Electric Vehicles became the hot 🔥 investment play

Galaxy is up more than 400% since her initial investment however it hasn’t been a straight line up - there has been a fair bit of volatility along the way.

She has a funny story to go with it and a lesson learnt!

When we asked her for her key lessons when it came to investing in the share market she said

“Invest in companies that you understand, that you believe in and that are solving a problem…that way when there is a downturn (which there inevitably will be) you won’t panic and sell. Patience is a virtue - like Mr Buffet said…the stock market is a device for transferring money from the impatient to the patient”

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