Latest / TFS WealthCast / Gen Z and Money: Rent, Deposits and Buying a Home

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Gen Z and Money: Rent, Deposits and Buying a Home · TFS WealthCast

• 0:04
  SPEAKER_00: This is the TFS Podcast where money cost gets real and financial freedom is more than just a goal.
• 0:12
  SPEAKER_00: Without further ado, let's dive in.
• 0:16
  SPEAKER_02: Hi guys, and welcome to another episode of the TFS Worldcast.
• 0:20
  SPEAKER_02: This is a special episode because this episode we only have Gen Z.
• 0:25
  SPEAKER_02: Myself and Charin, one of our financial consultants, uh, who speaks to most of our clients.
• 0:32
  SPEAKER_02: Actually, Charin, we're not Gen Z.
• 0:34
  SPEAKER_02: We're not.
• 0:34
  SPEAKER_02: They're not.
• 0:35
  SPEAKER_02: We always have promoters.
• 0:37
  SPEAKER_02: Oh, we're like, yeah.
• 0:38
  SPEAKER_02: Millennials, technically.
• 0:39
  SPEAKER_02: Technically, so so we are we are we are the generation that's in between the millennials and the Gen Z?
• 0:45
  SPEAKER_04: Yes, the best of both worlds.
• 0:46
  SPEAKER_02: Best of both worlds.
• 0:47
  SPEAKER_02: You know, you know, there's a there's a there's a we we we we fit into a totally different category.
• 0:51
  SPEAKER_02: Yeah, it's called Zillenium.
• 0:53
  SPEAKER_02: Zillenium.
• 0:55
  SPEAKER_02: That's exactly we love millennial music.
• 0:57
  SPEAKER_02: Yeah.
• 0:58
  SPEAKER_02: We love Gen Z music sometimes when we're very intoxicated.
• 1:02
  SPEAKER_02: Exactly.
• 1:02
  SPEAKER_02: I mean I don't get intoxicated, but maybe Oh you you don't oh my god, you don't think oh my goodness.
• 1:07
  SPEAKER_02: I have some videos that prove otherwise, but wasn't me.
• 1:11
  SPEAKER_02: Millennial music.
• 1:12
  SPEAKER_02: Exactly, there you go.
• 1:14
  SPEAKER_02: So now the whole point of doing this episode is it's it's a bit of a light, lighter uh toned episode, right?
• 1:22
  SPEAKER_02: Where we're gonna talk about the problems Gen Z have and the opportunities and what it's like for Gen Z who are looking to get into the property market in terms of how they can go about getting a home loan, you know, which is why you're here, right?
• 1:39
  SPEAKER_02: Yeah, so let's dive deep into it.
• 1:42
  SPEAKER_04: Yeah, absolutely, we see.
• 1:43
  SPEAKER_04: I think uh I think we'll be you know going deep into it, and you know, I think my friends, your friends, a lot of people that we know, I think their goal is basically if they come to Australia, they obviously want to get their permanent residency sorted out.
• 1:57
  SPEAKER_04: Yeah, I'm feeling comfortable because I can't put my legs around the table, but you know, it's you know, it's university, permanent residency, citizenship, and then the property.
• 2:07
  SPEAKER_04: Yeah, you know, that's kind of the goal, that's where you know they all want to get.
• 2:11
  SPEAKER_04: And I think I've seen a lot of people on that journey, people who are starting, people who have you know put their foot through the door.
• 2:16
  SPEAKER_04: Yeah, and uh you know it's a good experience, and it's a lot of good conversations that uh we have with each other as well.
• 2:23
  SPEAKER_04: So I think there's a lot to learn.
• 2:26
  SPEAKER_04: Uh there's a lot of information, a lot of misinformation.
• 2:32
  SPEAKER_02: Everyone's doing podcasts now.
• 2:34
  SPEAKER_02: Exactly.
• 2:35
  SPEAKER_02: It's like you know, go and buy properties or buy properties, buy properties, or 30 year loan, growth hot spots, growth hot spots, you know, depending on a little bit faster, you know, get the lowest rate in the market, which is something we see a lot.
• 2:46
  SPEAKER_04: Yeah, and promote favorite one, the market's crashing.
• 2:49
  SPEAKER_04: Oh wow, he hates that.
• 2:50
  SPEAKER_04: He hates that market doesn't crash.
• 2:52
  SPEAKER_04: Always gonna be buyers and sellers, it's just about figuring out which side of the fence you fall on because it's definitely going to be beneficial to one over the other.
• 3:01
  SPEAKER_04: So yeah, it'll be interesting to speak into it, and yeah, I think we'll have some interesting general conversations.
• 3:06
  SPEAKER_02: Let's start with this, it's a bit of con it's a bit controversial.
• 3:10
  SPEAKER_02: Everyone says, Don't spend money on that cup of coffee, and even Pramu sometimes sells us this, yeah.
• 3:18
  SPEAKER_02: While you guys waste money on having like buying coffee every day in the morning, exactly, and you can just make it in office, yeah.
• 3:24
  SPEAKER_04: And uh that's all I do.
• 3:26
  SPEAKER_04: I buy my coffee every every morning.
• 3:28
  SPEAKER_04: We get the coffee together, right?
• 3:29
  SPEAKER_04: We get the coffee together just to see how true it is, and you know, actually, it is true.
• 3:33
  SPEAKER_04: It's six dollars a day for a cup of coffee.
• 3:35
  SPEAKER_04: Yeah, uh, I'm like closing tolerance, so it's six dollars seventy with the oat milk.
• 3:40
  SPEAKER_04: Yeah, so that's you know, essentially thirty dollars a week, 120 a month, and you know, so on and so forth.
• 3:46
  SPEAKER_04: But it doesn't stop there, right?
• 3:47
  SPEAKER_04: The example is the coffee, but it's also it's also what that cup of coffee does to us, right?
• 3:54
  SPEAKER_02: I mean it gets us it.
• 3:56
  SPEAKER_02: I don't know, for me, I think it's the same for you, it gets us in the mood forward, you know?
• 4:00
  SPEAKER_04: Yeah, it sets the tone for the day, and you know, it's really about okay, let's say you do spend that six dollars a day there, but you know, are you essentially getting$20 more worth of output with that?
• 4:12
  SPEAKER_04: Because if you're not, then it's maybe you know, maybe you reduce that from every day.
• 4:16
  SPEAKER_02: Yeah, then maybe you save that 30 bucks and just less cafe that's in office, which is exactly I can't do it.
• 4:24
  SPEAKER_02: I can't have to have at least three of those.
• 4:28
  SPEAKER_02: Unless you know, unless our boss wants to get us a nice coffee machine, then we don't need to go let's just someone discount these days.
• 4:35
  SPEAKER_02: This many needs.
• 4:40
  SPEAKER_02: But but now now that we've got financial planning in TFS, so one avenue that uh Joshua really brings charity, all these little unnecessary expenses uh people do on a daily basis without knowing.
• 4:54
  SPEAKER_02: Like it starts with a cup of coffee, then it comes down to subscriptions.
• 4:58
  SPEAKER_02: Now, how many subscriptions do you have?
• 4:59
  SPEAKER_02: Yeah, too many, man.
• 5:00
  SPEAKER_02: I think we spoke about this last week as well.
• 5:03
  SPEAKER_04: You didn't know until you saw like the debate just going off.
• 5:06
  SPEAKER_04: Exactly.
• 5:06
  SPEAKER_04: You know, so I'm actually in a in a place where you know I'm learning more about how I need to manage my money, yeah.
• 5:14
  SPEAKER_04: Uh, because obviously the environment I work in, you know, I see people at all stages of their life.
• 5:20
  SPEAKER_04: First property, second, third, you know, some with 10 plus.
• 5:24
  SPEAKER_04: And that's real life experience.
• 5:25
  SPEAKER_04: That's it, the that's it, the clients you handle.
• 5:27
  SPEAKER_04: Exactly.
• 5:28
  SPEAKER_04: So the clients we handle, it's the the people I speak to, you know, every week.
• 5:32
  SPEAKER_03: Yeah.
• 5:32
  SPEAKER_04: And when you see their stories or hear how they got there, it's completely different.
• 5:37
  SPEAKER_04: You know, and it's very similar to what we say, you know, it's the it's not one bag, doesn't fit every person.
• 5:42
  SPEAKER_04: And it's just like that, it all depends on your lifestyle.
• 5:46
  SPEAKER_04: And you know, where the six dollars that you spend on a coffee, you know, it comes down to are you making$12 off of it?
• 5:52
  SPEAKER_04: You know, are you cutting it off?
• 5:53
  SPEAKER_04: Are you gaining something from it?
• 5:55
  SPEAKER_04: Is is is that coffee an expense or is it can it be an asset?
• 5:58
  SPEAKER_04: Yeah, exactly.
• 5:59
  SPEAKER_04: If it helps you perform, exactly, you know, get another deal done.
• 6:02
  SPEAKER_04: If it gives you that, you know, that energy boost to get the deal done, it might be worth it.
• 6:06
  SPEAKER_04: If you're a well-productive day, right?
• 6:09
  SPEAKER_04: It gives you that boost of energy that you might need to take that first call on a Monday morning, yeah, which is the toughest day to, you know, in my opinion, to get into office and come off the weekend and then you gotta make calls in the morning.
• 6:20
  SPEAKER_04: So it really comes down to that, and you know, personally, I'm trying to you know make it maybe one to two coffees a week and see how my productivity is, and obviously change from person to person, but I think it essentially comes down to understanding where your money is going, right?
• 6:38
  SPEAKER_04: It's not just a coffee, you're spending small amounts of money throughout your day.
• 6:42
  SPEAKER_04: You might spend two dollars, you know, like five times a day, and that's ten dollars you spend.
• 6:47
  SPEAKER_04: If you do that every day, it does fifty bucks more on top of the coffee.
• 6:51
  SPEAKER_04: So it's about kind of figuring out where your cash flows are going, yeah, and getting an understanding.
• 6:56
  SPEAKER_04: Okay, where can I tie up these losings?
• 6:58
  SPEAKER_04: Even if it's a subscription, do I really need it?
• 7:01
  SPEAKER_04: Are there alternatives?
• 7:02
  SPEAKER_02: Yeah, how awful do I use it?
• 7:04
  SPEAKER_02: Or or can I maybe share the subscription with a bunch of friends so that way you still have the subscriptions if you really want the Netflix, you really want now?
• 7:11
  SPEAKER_02: I know you love your sports, so you've got KO Sports.
• 7:14
  SPEAKER_02: Yeah, exactly.
• 7:14
  SPEAKER_02: I don't know, and you actually get something out of it.
• 7:17
  SPEAKER_02: Yeah, exactly.
• 7:18
  SPEAKER_04: I mean we have Stan Sport to watch the Premier League, and I I suppose Manchester I support Manchester United and it's basically a waste of money because it's just depressing at this point.
• 7:27
  SPEAKER_04: But you know, I'm learning that it's been true.
• 7:30
  SPEAKER_02: I don't watch football, but I know about Manchester United thanks to your story.
• 7:35
  SPEAKER_02: You guys win a game, why not try it for a really good day of topics with a smile?
• 7:39
  SPEAKER_02: Exactly.
• 7:39
  SPEAKER_02: Lose a game, put something sarcastic on your story.
• 7:44
  SPEAKER_04: So it's it's pretty much the same.
• 7:45
  SPEAKER_04: You need to find out where the where that money is going, yeah, and basically tie it up and figure it out.
• 7:51
  SPEAKER_04: And I think uh one of our previous podcasts and all you touched the base on you know how you manage your finances, and you need to kind of analyze what you have been spending on over three months.
• 8:01
  SPEAKER_04: Yeah, you can have one-off higher payments, you know, maybe in August or maybe end of financial year, but you need to figure out the recurring expenses and kind of figure out which ones you can dial down on, yeah, possibly remove or even reduce.
• 8:14
  SPEAKER_04: And that's what will help set you up to obviously, you know, be in a better financial position and also probably purchase your first home like six months before you actually thought you would.
• 8:25
  SPEAKER_04: Yeah, and that could be a big deal, uh, especially in a market that's uh always changing as well.
• 8:30
  SPEAKER_02: So speak speaking of uh speaking of buying a first store, right?
• 8:34
  SPEAKER_02: So now, like you mentioned, most of our friends, you know, they've come here as students, they've done their studies, they've they've done their arts, they've worked shit jobs just to get PR, and now they've got PR, right?
• 8:46
  SPEAKER_02: Sometimes we work under abusive uh bosses, you know, you never know, right?
• 8:51
  SPEAKER_02: They've done shit, worked overtime, not got paid.
• 8:55
  SPEAKER_02: Now, these guys they've got their PR, and now they're all looking at, you know, some of them are getting married, some are waiting to get married.
• 9:02
  SPEAKER_02: Yeah.
• 9:02
  SPEAKER_02: One's some, you know, from the partners, one really wants to get married, others are not yet to get married.
• 9:10
  SPEAKER_02: Uh but so for them to buy their first home, right?
• 9:13
  SPEAKER_02: Now you help a lot of first home buyers, you speak to a lot of them on a daily basis.
• 9:18
  SPEAKER_02: What when you see that some some of them who really are able to get into the first property early, what are some things that they are doing right?
• 9:27
  SPEAKER_02: And what are some things that some clients who are not able to get into the first home as soon as they'd like to?
• 9:33
  SPEAKER_02: What are they not doing right?
• 9:35
  SPEAKER_02: From your experience.
• 9:36
  SPEAKER_04: Yeah, I think more than right or wrong, I think it's about how fast you get there.
• 9:41
  SPEAKER_04: You know, are they coming here?
• 9:42
  SPEAKER_04: You don't know what your background is, it's going to be difficult.
• 9:45
  SPEAKER_04: It's never going to be handed to you.
• 9:47
  SPEAKER_04: Yeah.
• 9:47
  SPEAKER_04: Things like when residency is something that's definitely not handed to you.
• 9:52
  SPEAKER_04: And the costs, the cost of fees, up to that.
• 9:55
  SPEAKER_04: You know, the amount of people you know who have saved up so much but ended up spending all of that for this.
• 10:02
  SPEAKER_04: That's a 5%, that's more than a 5% deposit.
• 10:04
  SPEAKER_04: That's not the first of the time, especially, right?
• 10:06
  SPEAKER_04: So it's a lot.
• 10:07
  SPEAKER_04: So when you come into a position to buy your first property, you've already spent you know 30 to 50,000 on getting your visa sorted out, right?
• 10:15
  SPEAKER_04: And it's an investment.
• 10:16
  SPEAKER_04: So I think what's really important is obviously it's not about virtual art.
• 10:20
  SPEAKER_04: You guys have hustle.
• 10:21
  SPEAKER_04: Yeah, you know, people have hustled, and that's how they made it here.
• 10:23
  SPEAKER_04: So the hustle is it's it's in you.
• 10:26
  SPEAKER_04: You're gonna be able to earn that money.
• 10:28
  SPEAKER_02: And and that and touching a bit more on the hustle, right?
• 10:31
  SPEAKER_02: Now, you know, when we came as students, we we've done odd jobs.
• 10:34
  SPEAKER_02: Yeah, absolutely.
• 10:35
  SPEAKER_02: Uh now, for example, one job that a lot of people do when they come as students is cleaning.
• 10:42
  SPEAKER_00: Yeah.
• 10:42
  SPEAKER_02: Now, back where where we are from, Sri Lanka, you never see us going and doing cleaning because people would be like, Oh, what is he doing?
• 10:49
  SPEAKER_02: Why what what are you doing?
• 10:51
  SPEAKER_02: Right?
• 10:52
  SPEAKER_02: But here the cleaners actually sometimes would make more money than a person working a 95 corporate job.
• 10:57
  SPEAKER_02: Exactly.
• 10:57
  SPEAKER_04: It's about, you know, it's like in Sri Lanka, you grew up to be, you know, a doctor, lawyer, um engineer.
• 11:03
  SPEAKER_04: Engineer.
• 11:03
  SPEAKER_04: This is what a lot of Sri Lankans are here.
• 11:05
  SPEAKER_04: Exactly.
• 11:06
  SPEAKER_04: That's the norm.
• 11:06
  SPEAKER_04: But and and props to them because um it's not easy to become a doctor engineer or it's just a the fact is that you know in Australia, so many other ways to make money in Australia, so many good opportunities, you know.
• 11:18
  SPEAKER_04: There are gardeners who earn more than doctors, exactly than engineers.
• 11:23
  SPEAKER_04: You have options, you have options, and earning money is not the problem.
• 11:27
  SPEAKER_04: Exactly.
• 11:27
  SPEAKER_04: You're gonna hustle, you can work five days a week and earn enough money, you can do weekends and earn more if you really need.
• 11:34
  SPEAKER_04: But the goal is again, touching back to our previous point, figuring out where that money is going.
• 11:40
  SPEAKER_04: You need to find your savings, yeah.
• 11:43
  SPEAKER_03: Right?
• 11:43
  SPEAKER_04: The government is gonna come in, they have rants in place, they have the first home buy deposit scheme in place where you just need the five percent deposit.
• 11:49
  SPEAKER_04: Deposit, yeah.
• 11:50
  SPEAKER_04: You have the stand duty concession.
• 11:52
  SPEAKER_04: So the government is actually putting their hand out and giving you a huge helping hand to get your first property.
• 11:58
  SPEAKER_04: So, what's in your control is your spending habits and also your saving habits.
• 12:03
  SPEAKER_04: So, once you have that analysis of where your money is going, eventually you're gonna see that maybe you can actually end up saving like$500 more per month, yeah.
• 12:13
  SPEAKER_04: Maybe$1,000 more per month, especially for you know families where you have you know husband and wife or de facto partners, all of that, you're going to see a lot more of a saving once you dive into it.
• 12:24
  SPEAKER_04: Yeah, right?
• 12:25
  SPEAKER_04: So get your savings high, keep your liabilities low.
• 12:29
  SPEAKER_04: We see a lot of you know, um buy now, pay later.
• 12:33
  SPEAKER_04: That's a big thing.
• 12:34
  SPEAKER_04: That's a big thing, yeah.
• 12:35
  SPEAKER_04: Like a lot of people miss that.
• 12:36
  SPEAKER_04: Yeah, you know, but let's let's highlight that a bit.
• 12:39
  SPEAKER_04: Yeah, absolutely.
• 12:40
  SPEAKER_04: A lot of people, something in Australia they love for you, you know, to buy something and literally pay it later.
• 12:46
  SPEAKER_02: Yeah, and you know that it's an help you plan, you know, you know, you know your salary is coming in a week, two seconds, or a month.
• 12:52
  SPEAKER_02: Then you can manage your pay-to-day expenses until you get your salary.
• 12:57
  SPEAKER_02: But how does that affect the borrowing?
• 12:59
  SPEAKER_04: Exactly, it makes a huge impact on your borrowing.
• 13:01
  SPEAKER_04: A 3,000 after pay limit could reduce your borrowing by about$8,000.
• 13:06
  SPEAKER_04: Approximately this changes from land to land, obviously.
• 13:09
  SPEAKER_04: But give me a ballpark figure, that's just a small example.
• 13:12
  SPEAKER_04: On top of that, you you know, or personal loan, yeah, that's gonna all add up.
• 13:16
  SPEAKER_04: And it's always important to know that everything is gonna, you know, have a ripple effect.
• 13:21
  SPEAKER_04: So when it comes to borrowing capacity, it's important to know that buy now, pay latest, credit cards, and other liabilities is going to impact your you know, borrowing power.
• 13:31
  SPEAKER_04: So definitely keep those limits low or keep it at zero if you really can.
• 13:36
  SPEAKER_04: Because end of the day, you know, you work five years, five plus years to get your permanent residency.
• 13:42
  SPEAKER_04: You know, just let's hustle a bit more, you know, and make sure you can get into a position where you have your first property and maybe your second by 30.
• 13:51
  SPEAKER_04: And that's definitely possible.
• 13:53
  SPEAKER_04: Yeah, you just need to start off on the right track.
• 13:55
  SPEAKER_04: So if you haven't done it yet, I strongly recommend you know having a look at your finances and seeing where you can hung up those lose ends.
• 14:03
  SPEAKER_04: And even, you know, even if it's a credit card, yeah, make sure it's something that if you need to proceed tomorrow, you can cross it, which means that's beyond you know it's within your limits of spending and not beyond it.
• 14:13
  SPEAKER_04: So those are some things I would highly recommend to first home buyers who just got their you know PR or citizenship who are looking to you know get into the market for sure machine.
• 14:23
  SPEAKER_02: Yeah, and now that we're on the topic of you know people getting PR and buying their first home, um let's let's talk about this.
• 14:32
  SPEAKER_02: Do you do you do you think buying a property is a good idea or renting?
• 14:37
  SPEAKER_02: If it if someone's let's say on an 80k salary, right, and they really want to buy their first home, they would make like what maybe close to five thousand bucks a month or less than that.
• 14:50
  SPEAKER_02: And given the current rate market, buying a house you would need at least what 650 to 700,000 to buy a decent house somewhere, like North Officer, right?
• 15:00
  SPEAKER_02: Uh not saying this to demotivate anyone from buying property, but this is just my take on from what I've seen here.
• 15:06
  SPEAKER_02: Yeah, right.
• 15:08
  SPEAKER_02: Uh so a person who buys a house like that, let's say 650,000, their mortgage would be around 4,000 to 500, 4,000, right?
• 15:17
  SPEAKER_02: If they buy it in the 5% deposit scheme.
• 15:19
  SPEAKER_02: Yeah, right.
• 15:19
  SPEAKER_02: So a person like that, isn't it better for them to like rent a property right for big build up uh a larger deposit where then they can contribute more to their loan so their deposit could be like maybe 20%.
• 15:36
  SPEAKER_02: That way their repayment would be lower, right?
• 15:39
  SPEAKER_02: Absolutely.
• 15:40
  SPEAKER_02: So for someone like that, what advice do you what do you think?
• 15:45
  SPEAKER_02: Like if it's one of our friends.
• 15:46
  SPEAKER_02: So I had a conversation like this with one of my friends, he's very struggling.
• 15:49
  SPEAKER_02: Uh again, coming back to because he's so a Sri Lanka, right?
• 15:53
  SPEAKER_02: So a sign of success for most of our most of us is oh, we got the PR, awesome.
• 16:00
  SPEAKER_02: We got married, awesome.
• 16:01
  SPEAKER_02: That's an it's it's like a checklist.
• 16:03
  SPEAKER_02: Yeah, exactly.
• 16:03
  SPEAKER_02: Get married, then after that, oh gotta have a baby, okay?
• 16:07
  SPEAKER_02: Oh, gotta buy a house.
• 16:08
  SPEAKER_02: It's like it's like an auto autopilot.
• 16:10
  SPEAKER_02: Yeah, absolutely.
• 16:11
  SPEAKER_02: Yeah, now one of my friends are stressing.
• 16:13
  SPEAKER_02: Wants to he got his PR, wants to buy a house.
• 16:17
  SPEAKER_02: So he's uh changed the sequence a bit.
• 16:20
  SPEAKER_02: He wants to buy a house, his parents want him to buy a house, it's not him, yeah.
• 16:24
  SPEAKER_04: Exactly, and he with that pressure from back home, right?
• 16:26
  SPEAKER_02: Exactly.
• 16:27
  SPEAKER_02: But he's like, bro, I'm like, I'm I I'm not saying his name, but he's earning 80k and then he does a bit of ticks on the side, so maybe anybody must be getting about hundreds, but now buying a house when he asked me and I told him, yeah, buy the 5% deposit, this is the kind of mortgage repayment you're going to be expecting.
• 16:48
  SPEAKER_02: Um given the kind of lifestyle he has, he likes to travel a lot.
• 16:52
  SPEAKER_02: Yeah, he goes camping like he'll have to significantly cut down on his lifestyle if he goes ahead with buying a house.
• 17:01
  SPEAKER_02: So I told him, why don't you think about getting married first?
• 17:05
  SPEAKER_02: Find a partner, so then there are two incomes.
• 17:07
  SPEAKER_02: Exactly, absolutely.
• 17:08
  SPEAKER_02: Then try to buy a house.
• 17:09
  SPEAKER_02: Yeah.
• 17:10
  SPEAKER_02: Right?
• 17:11
  SPEAKER_02: So not everyone has to buy a house right after they get their beer.
• 17:17
  SPEAKER_02: Not at all.
• 17:17
  SPEAKER_02: And what's the rush?
• 17:19
  SPEAKER_02: Do you know?
• 17:20
  SPEAKER_02: Exactly.
• 17:21
  SPEAKER_02: I mean, people might think just because we're a finance company, yeah, we want to get the home loan.
• 17:25
  SPEAKER_02: We want people to buy houses, so we make money, but that's maybe what everyone else for that's maybe what other finance companies want to do, but we want to do what's right for the clients, right?
• 17:36
  SPEAKER_04: I mean, look, if a client comes in and he wants 650,000 house, but he's borrowing it at 400,000 and he has like 50,000 in savings.
• 17:43
  SPEAKER_04: I'm not gonna put application in just because you know I think it's good because that's not the right thing to do.
• 17:48
  SPEAKER_04: Exactly.
• 17:49
  SPEAKER_04: Like what we do is we would advise them what you need to do to get to that property, you know, whether it's working an extra job for a period of time, and like you said, if you have two people on application that can significantly strengthen your borrowing, right?
• 18:03
  SPEAKER_04: So that options haven't, you know, it's not a race, it's not a you know who's gonna get their house first.
• 18:09
  SPEAKER_04: Yeah, because end of the day, your this is your first row.
• 18:12
  SPEAKER_04: You're definitely not gonna live in it forever, and you're not gonna pay this loan for 30 years.
• 18:16
  SPEAKER_05: Yeah.
• 18:16
  SPEAKER_04: Because if we did that as a company, uh, I think we're giving you know the raw shadows to our clients.
• 18:22
  SPEAKER_04: Exactly.
• 18:22
  SPEAKER_04: Because it's never that, yeah, and uh, I think you need to think about what type of property you can own for what you what you do earn and in terms of your borrowing, yeah, and see if it fits in your lifestyle for a short period of time.
• 18:36
  SPEAKER_04: End of the day, this is not forever.
• 18:38
  SPEAKER_04: And you know, touching back to what we spoke about earlier, this is just uh you know five, six years of your entire life.
• 18:45
  SPEAKER_02: Exactly.
• 18:46
  SPEAKER_04: You know, just because you, you know, let's say work a couple more jobs for a year or two and try to get into the market and it's a good time, doesn't mean you're gonna miss out on other things.
• 18:56
  SPEAKER_04: You know, if you want, you know, take your time, get into the market a bit later when you feel comfortable.
• 19:02
  SPEAKER_04: Yeah, end of the day, the bank is not going to give a loan to someone who they think can't afford it.
• 19:07
  SPEAKER_02: Exactly.
• 19:09
  SPEAKER_02: That's a good point you brought up because some people think, oh, okay, my monthly expenses are roughly around$2,000.
• 19:16
  SPEAKER_02: I've got X amount left, I can afford a mortgage.
• 19:18
  SPEAKER_02: But how does the bank actually calculate him, right?
• 19:22
  SPEAKER_02: Exactly.
• 19:22
  SPEAKER_04: Yeah, it's the hymn, you know, and they they have their own ways of calculating a person's monthly expense.
• 19:27
  SPEAKER_04: I mean, these are banks, these are people they've seen, they've seen they've seen you know, billions of dollars in wealth and billions of dollars of debt.
• 19:37
  SPEAKER_04: So they've seen it all, like you know.
• 19:40
  SPEAKER_04: I mean, you might tell me it's two thousand dollars, but the bank definitely knows based on your lifestyle, what you're doing today, how much you're earning, yeah, exactly how much your expenses are going to possibly increase, right?
• 19:51
  SPEAKER_04: So the bank takes all of these things into consideration, and end of the day, it really comes down to how you can make it work.
• 19:59
  SPEAKER_04: You know, it's again every house is not going to fit the same person.
• 20:03
  SPEAKER_04: Like for some people, it's a two-bedroom, for some it's a three, for some it's a four.
• 20:07
  SPEAKER_02: Some for some it could be as small as an apartment, apartment unit, right?
• 20:11
  SPEAKER_04: Right?
• 20:12
  SPEAKER_04: It's all about what your necessity is and how we can get there.
• 20:15
  SPEAKER_04: And even for your friend, even for my friend, what I always tell them is look, it might not be the perfect home, right?
• 20:21
  SPEAKER_04: But it's just your first home.
• 20:23
  SPEAKER_04: Yeah, this is this is not your end game.
• 20:25
  SPEAKER_04: Like, where do you say where do you see yourself living in five years or maybe ten years?
• 20:29
  SPEAKER_04: You know, when you're a lot more settled down in life, when things are you know taking a back seat depending on what you want to do.
• 20:36
  SPEAKER_04: Yeah, like where do you see yourself at that point?
• 20:38
  SPEAKER_04: House does not fit all that.
• 20:40
  SPEAKER_02: One house does not fit all in size.
• 20:42
  SPEAKER_02: It's a favor Gen Zoom audience gets it, yeah.
• 20:45
  SPEAKER_02: But we get it, guys.
• 20:48
  SPEAKER_02: One size does not fit all, you know.
• 20:50
  SPEAKER_04: Yeah, so just like that, yeah.
• 20:52
  SPEAKER_04: You know, one size of house does not fit all because the number of bedrooms, all of that.
• 20:57
  SPEAKER_04: So it's really about if you feel confident and you think you're ready to take that step, absolutely limit.
• 21:03
  SPEAKER_04: You know, pay your own mortgage, and you know, it's it's it's also an experience.
• 21:08
  SPEAKER_02: Or if they really want to get into a property, rent vesting is something they can do as well.
• 21:14
  SPEAKER_04: Yeah, I mean, I've heard about rent vesting.
• 21:16
  SPEAKER_04: Obviously, you don't get the benefits of you know a first home buyer, but that's something that you can definitely do.
• 21:21
  SPEAKER_02: Yeah, because if you're struggling to pay off the mortgage, you buy an investment property and then you rent it out.
• 21:28
  SPEAKER_02: Yeah, absolutely.
• 21:29
  SPEAKER_04: And there's so many strategies that you can use, um, you know, once you do that, and once you have an investment, and it just opens up so many avenues.
• 21:37
  SPEAKER_04: So definitely, if you have the deposit, basically your borrowing is going to increase uh essentially because you have your income plus the projected rental income.
• 21:45
  SPEAKER_04: Rental income, yeah.
• 21:46
  SPEAKER_04: Right?
• 21:46
  SPEAKER_04: So if you have a two better, one better, whatever it is, you know how much of rent you might get for it.
• 21:51
  SPEAKER_04: And then we assess your borrowing based on that.
• 21:53
  SPEAKER_04: So, you know, buy that house definitely if you're ready to do it.
• 21:56
  SPEAKER_04: Yeah, and I recommend uh doing it with it because it
• 22:00
  SPEAKER_02: And that way they can also they have more flexibility around where they want to buy the house.
• 22:07
  SPEAKER_02: Exactly.
• 22:07
  SPEAKER_02: And they can buy it in a regional suburb which is positioned to boom within the next couple of years.
• 22:14
  SPEAKER_02: Exactly.
• 22:15
  SPEAKER_02: I think you know we've got to be able to do that.
• 22:16
  SPEAKER_02: And when we say a place is positioned to boom, we're saying it because our boss is actually done the research there and he's planning on buying a house there.
• 22:25
  SPEAKER_02: Yeah.
• 22:26
  SPEAKER_04: That man only buys house in areas and it's like saying, you know, actions speak louder than words.
• 22:31
  SPEAKER_04: So, like, you know, he's done it, so now he has done it.
• 22:34
  SPEAKER_04: And you know, that gives us the confidence to have the conversation as well, helps us do our independent research.
• 22:40
  SPEAKER_04: You know, I like to prove uh promo wrong once in a while.
• 22:43
  SPEAKER_04: So I always, when he tells me something, I completely disagree with it.
• 22:46
  SPEAKER_04: I do my research and I go back to him, and we always, you know, go back and forth.
• 22:50
  SPEAKER_04: And you know, there are days he sees my side, there are days I see his side, and especially when it comes to properties, I'm learning a lot from him.
• 22:57
  SPEAKER_04: And I think uh it also goes to so much information that you get Vishnie online.
• 23:02
  SPEAKER_04: I think even when investing is something you know, it comes on my feed itself.
• 23:07
  SPEAKER_04: You know, don't pay your I have this client pay their mortgage or pay.
• 23:11
  SPEAKER_02: That's that's another thing people need to understand.
• 23:12
  SPEAKER_02: Like, yeah, most of the stuff we see online, it's just marketing talk.
• 23:16
  SPEAKER_02: Yeah, it's a sales pitch.
• 23:18
  SPEAKER_02: Yeah, it's it's a sales pitch, right?
• 23:20
  SPEAKER_02: Uh in this current market, if you're just buying an investment property and you want it to be possibly geared, you're gonna need a big deposit.
• 23:29
  SPEAKER_02: Exactly.
• 23:29
  SPEAKER_02: I don't think in the 20% deposit, there are many properties that will become positively geared.
• 23:33
  SPEAKER_02: Exactly.
• 23:34
  SPEAKER_04: Especially nowadays, you know, going for a new property in the market, there's you know, that's another big argument we have.
• 23:40
  SPEAKER_04: You know, do you buy a new property?
• 23:41
  SPEAKER_04: You buy established or brand new.
• 23:44
  SPEAKER_02: I mean, if you're a first home buy, it kind of makes sense.
• 23:46
  SPEAKER_02: You can save on stamp duty.
• 23:48
  SPEAKER_02: Exactly.
• 23:49
  SPEAKER_02: But if you're an investor, well now technically investors should buy brand new because they get negative benefits for properties.
• 23:57
  SPEAKER_04: Exactly, like it all comes out to your requirements, right?
• 24:00
  SPEAKER_04: And I think the best part is that if you don't know what you want, having a conversation with myself, Pramu, or even our financial planners, you know, that is something that will open your eyes up a lot and show you what type of opportunities are there, yeah, what you might be missing on, and how you can actually get to your goals.
• 24:20
  SPEAKER_04: Yeah, you know, and you know, yes, tomorrow financial solutions is about, you know, giving home loans is what someone would think, but we do a lot more than that.
• 24:28
  SPEAKER_04: It's not about a transaction for me personally.
• 24:32
  SPEAKER_04: I think I take the time to know what my client really wants, what his you know, his actual goal is.
• 24:38
  SPEAKER_04: You know, sometimes you have a conversation, you know, at the end of it, actually what they want is not what they actually need.
• 24:45
  SPEAKER_02: And those like you said, you know, it's not a transaction, it's not a long-term transaction, absolutely not, which is why you know promo and sonali.
• 24:52
  SPEAKER_02: Thanks for mentioning Sonali, you know, we'll always give credit to both our bosses.
• 24:57
  SPEAKER_02: Yeah, of course.
• 25:00
  SPEAKER_02: Team Sonali, because she's the boss, and she wants all the shots, yeah.
• 25:04
  SPEAKER_02: You know, even though promo is the team.
• 25:06
  SPEAKER_02: Team Ron Due.
• 25:12
  SPEAKER_03: This might be the last podcast we do.
• 25:14
  SPEAKER_04: First time last for me.
• 25:16
  SPEAKER_02: So, yeah, like we said it's not a one-time transaction with our clients, which is why we introduce and we hop on that so much that we introduced the DFS law program.
• 25:26
  SPEAKER_02: Absolutely, right?
• 25:27
  SPEAKER_02: We are the only mortgage or finance company in Australia.
• 25:32
  SPEAKER_02: We can say that that has their own loyalty program.
• 25:35
  SPEAKER_04: Absolutely, and if you haven't seen it all over, like I mean, please like you know, check out the link in the bio.
• 25:41
  SPEAKER_04: How does the loyalty program work?
• 25:43
  SPEAKER_04: That's more than happy to tell you, like, especially for our first term buyer Gen Z, you know, clients, yeah, friends, family.
• 25:51
  SPEAKER_04: Hey, even millennials, but first-term buyer, yeah, still yeah, absolutely.
• 25:55
  SPEAKER_04: You know, it's always the right time to buy a house.
• 25:57
  SPEAKER_04: You know, the TFS loyalty program was introduced uh late last year in collaboration with uh our partnership uh with LOLC and obviously LOLC owns a lot LOLC is massive, you know.
• 26:10
  SPEAKER_02: It's like we should do a separate podcast just talk by LOLC.
• 26:13
  SPEAKER_02: LOLC is massive.
• 26:15
  SPEAKER_03: It's like LOLC is from Africa, yeah, so I was gonna say I won't say it, but it's big.
• 26:24
  SPEAKER_03: Yeah, it's really big.
• 26:25
  SPEAKER_03: That's what she said, and maybe to you, I don't know.
• 26:30
  SPEAKER_04: But yeah, so under LOLC they've got yeah, the Browns were doing the chains, um, and also the luxury vidas.
• 26:38
  SPEAKER_04: And when you become a client of TFS, you know, yes, you're paying a mortgage, but also your home loan balance balance is actually generating points for you, yeah, which you can redeem after your you know crawlback period ends, essentially.
• 26:53
  SPEAKER_04: Yeah, and uh just think of it as a paid location.
• 26:57
  SPEAKER_04: Yeah, exactly.
• 26:58
  SPEAKER_02: I mean you work hard, you work your pay off your mortgage, yeah.
• 27:03
  SPEAKER_02: And then every year your home loan balance gets you loyalty points, exactly, which you can then redeem to stay at any of the Browns hotels or revealed collection and villas.
• 27:13
  SPEAKER_02: Personally, I like revealed collection because they are more high in villas.
• 27:16
  SPEAKER_02: Browns hotels hotels are nice, but if you want that full private stay, you go reveal collection.
• 27:21
  SPEAKER_02: If you have a lot of points, you can book out the whole place.
• 27:24
  SPEAKER_02: Let's be honest, Vishim.
• 27:26
  SPEAKER_02: We know what it's like when you go to Sri Lanka for holiday.
• 27:29
  SPEAKER_04: We know much of that alcohol, alcohol, and more alcohol, yeah, and the parties and all of that, and they have they actually have hotels all over the island.
• 27:38
  SPEAKER_04: So, you know, based on what you like, whether it's the hills and you know, slightly cool weather, something relaxed, or be it something in the beach or some down south party.
• 27:47
  SPEAKER_02: Oh man, you're making Sri Lanka.
• 27:49
  SPEAKER_04: Yeah, just imagine you just you know you can date your friends at basically no cost.
• 27:52
  SPEAKER_04: Yeah, except your home loans already paid for that trip.
• 27:56
  SPEAKER_04: Yeah, essentially.
• 27:57
  SPEAKER_04: So that's the best thing I would say.
• 27:59
  SPEAKER_04: And you know, you keep saving up, that's you know, a few thousand dollars that you don't really need to worry about because it's uh it's already done.
• 28:07
  SPEAKER_04: So, you know, obviously, yeah, you know, terms and conditions apply.
• 28:12
  SPEAKER_05: It's like a reward.
• 28:13
  SPEAKER_04: Definitely something that you know, like you said, which I think anyone else offers, is it it's it's one of a kind.
• 28:19
  SPEAKER_04: And I think you know, when our clients are the first set of clients are going to be able to read these rewards, we know you guys can believe what we're telling you.
• 28:28
  SPEAKER_02: Obviously, it's not just like it's not just sales pitch marketing that we do.
• 28:35
  SPEAKER_02: It's uh it's facts, and it's actually something that's uh for fan it's it's open to all our clients, and you know and also for clients who don't want to redeem the points for hotel stay in Sri Lanka, they can redeem it for your integers.
• 28:48
  SPEAKER_02: Exactly.
• 28:48
  SPEAKER_02: Yeah, I don't know about it.
• 28:49
  SPEAKER_02: But the better yeah, exactly.
• 28:51
  SPEAKER_04: Bang on the buck is the hotels, the hotel is the bag on the bank, yeah.
• 28:54
  SPEAKER_04: That's definitely the best thing to do, you know.
• 28:55
  SPEAKER_02: I mean, and the only reason that's flexible.
• 28:58
  SPEAKER_02: The only reason we can give these to our clients is because we partner with LOLZ and LOLZ owns the hotels.
• 29:03
  SPEAKER_02: Exactly.
• 29:03
  SPEAKER_04: So you know we can flexible.
• 29:05
  SPEAKER_04: It's a good system, and also, I mean, if you really want that credit card and really want to get those quantities fights, then that's perfect.
• 29:12
  SPEAKER_04: Use your points, yeah, fly to Sri Lanka for free, yeah, use our points and stay in hotels for free.
• 29:18
  SPEAKER_02: But get the credit card after you've got the home loan, yeah.
• 29:21
  SPEAKER_02: I recommend doing that.
• 29:22
  SPEAKER_02: Yeah, do that in that order.
• 29:24
  SPEAKER_02: Yeah, home loan, then get the credit cards.
• 29:27
  SPEAKER_02: Yeah, always home loan, other dates.
• 29:29
  SPEAKER_02: December chart.
• 29:30
  SPEAKER_02: So yeah, we have the loyalty program, and then we recently introduced the TFS, uh TFS financial planning.
• 29:36
  SPEAKER_03: Yeah.
• 29:36
  SPEAKER_03: Right?
• 29:37
  SPEAKER_02: And financial planning chart, now from what we've learned now.
• 29:40
  SPEAKER_02: Before uh Joshua joined and we our financial planning uh department blew up.
• 29:46
  SPEAKER_02: We thought you have to be a high income owner to have to have a financial planner.
• 29:50
  SPEAKER_05: Yeah.
• 29:51
  SPEAKER_02: Which we now see it's not the case.
• 29:53
  SPEAKER_02: Not the case at all.
• 29:54
  SPEAKER_02: Even a first home buyer can get financial planning advice.
• 29:58
  SPEAKER_02: Exactly.
• 29:58
  SPEAKER_04: And I think what it does is it, you know, it's uh it's someone who's helping you, you know, hit your financial goals and targets.
• 30:06
  SPEAKER_04: And it's like And pay off your debt, so kind uh it's a funny thing, you know.
• 30:12
  SPEAKER_04: Exactly.
• 30:12
  SPEAKER_04: You know, we give you the debt, we help you get the debt, and we give you someone to help you pay off the debt.
• 30:17
  SPEAKER_02: Who tell me another finance business that would want to do that?
• 30:22
  SPEAKER_02: Yeah, like comment.
• 30:23
  SPEAKER_03: Yeah, you know, commit, you know, guys.
• 30:26
  SPEAKER_03: Tell people that are lying, I dare you.
• 30:28
  SPEAKER_03: Yeah, because we're not it's true.
• 30:30
  SPEAKER_02: Exactly.
• 30:30
  SPEAKER_02: We TFS, we give you a home loan, TFS financial planning, we give you a financial plan.
• 30:35
  SPEAKER_02: How's gonna help you pay off that home roll soda?
• 30:38
  SPEAKER_04: Exactly, like it's a package deal.
• 30:40
  SPEAKER_04: Exactly.
• 30:40
  SPEAKER_04: So, yeah, with especially with uh Joshua, I think you know, having brief conversations with Imagery told us, you know, the things that we need to focus on, especially growing up, and uh you know it's a it's a real fun time you know of our lives that we're living, but how it's important to kind of at the back of your head just know that exactly where you want to go.
• 31:00
  SPEAKER_04: You know, it's not about saving every penny, but it's about oh, it might be good for you to do this, and you'll see you know the positive effect it has to be, whether it's for your borrowing capacity or just your day-to-day life, it's something you know worth having.
• 31:13
  SPEAKER_04: I think we should get me from all you can have a you can have a free consultation with Joshua as well.
• 31:18
  SPEAKER_02: Yeah, first consultation is complimentary, exactly.
• 31:21
  SPEAKER_02: So any questions you want to ask, you write all that down because that guy is a well of knowledge, like yeah, and he has no choice, he's gotta answer, he's gotta answer questions, you know, and and he will answer questions.
• 31:32
  SPEAKER_02: He genuinely likes helping people, yeah.
• 31:34
  SPEAKER_02: So that's after that first conversation, you'll want to have more conversations with that guy for sure.
• 31:39
  SPEAKER_04: And I think Chris, I think with everything we touched based on like you can see that at TFS, it's we don't, it's not a product, it's not a sales speech.
• 31:48
  SPEAKER_04: It's we're giving something for everyone, and it's something that you kind of feel as well.
• 31:54
  SPEAKER_04: You need to know where your money's going.
• 31:55
  SPEAKER_04: Yeah, check, we tell you where your money is going.
• 31:58
  SPEAKER_04: Done.
• 31:59
  SPEAKER_04: You want a house, we'll help you get the house.
• 32:01
  SPEAKER_04: You know, you want the financial planning to obviously pay off your mortgages sooner, build wealth, we build liquidity, get into your second, third, fourth home.
• 32:09
  SPEAKER_04: You know, SMSFs are something that uh we'll we speak about and may speak about in detail later on.
• 32:15
  SPEAKER_04: All those boxes get checked here, and it's worth having a chat.
• 32:19
  SPEAKER_04: And then, I mean, you know, you'll see what we often.
• 32:22
  SPEAKER_04: It's not just a transaction like we mentioned before, it's more than that.
• 32:26
  SPEAKER_04: Yeah, and uh I think it's something that uh everyone should sign up for.
• 32:31
  SPEAKER_04: Uh and whether you know us or don't know us, you can get to know us and follow a hotline challenge.
• 32:36
  SPEAKER_02: We'll pick up.
• 32:37
  SPEAKER_02: Yeah, he's he's our most reviewed paraproker that works with us.
• 32:43
  SPEAKER_02: Go check go check Google reviews.
• 32:44
  SPEAKER_02: I definitely ask for reviews, like, and and and he's he's also gonna who does not ask his clients for reviews, like clients give it to him.
• 32:50
  SPEAKER_02: I mean, I may have asked for a few, but like uh not take are you taking shots at any uh colleague, bro?
• 32:56
  SPEAKER_02: Like I don't know, like no, no, of course not.
• 32:58
  SPEAKER_02: None of them ask their clients for reviews.
• 33:02
  SPEAKER_04: Sonali hasn't told me to do that all the time at all.
• 33:07
  SPEAKER_02: Sorry, Sonali.
• 33:08
  SPEAKER_02: But but yeah, yeah, your your clients they actually like I like I like reading uh reviews, right?
• 33:16
  SPEAKER_02: Yeah to see who's used chat GPT and who has it.
• 33:19
  SPEAKER_02: Your clients, they actually type that stuff down.
• 33:22
  SPEAKER_04: Yeah, I think most of them like uh especially you know behind the camera about how they feel about what we did, we don't promote I mean they send gifts.
• 33:30
  SPEAKER_02: Some of them send gifts exactly, and you know any of the child child's clients listening, you know, if you want to send some cupcakes or treats, please do March and Friday, 10 30 to 6 30, yeah, please.
• 33:43
  SPEAKER_04: Yeah, shop one shop shop one, shop one seven nine five.
• 33:46
  SPEAKER_04: Please shop one.
• 33:48
  SPEAKER_04: But uh no, it's true, and you know, having these conversations with them, you know, getting people out of you know bad places or you know hard financial situations is the best time because you know that you really did something good for them.
• 34:00
  SPEAKER_04: It's not like you just you know have them buy a house, it's about giving them the right structure, saving them a hell of a lot of money, and you know, giving them a bit of just peace.
• 34:12
  SPEAKER_04: Being able to, you know, just take a bit of a backseat, a bit of a breather, yeah, focus on something else, then just paying their mortgage.
• 34:20
  SPEAKER_02: So in some sense, now I've seen you like you I mean we we don't work a 95 job, right?
• 34:29
  SPEAKER_02: Yeah, but even when clients call you at like 8 p.m.
• 34:33
  SPEAKER_02: You answer that, you stop the car, and because once you went to drop me to the car park, can you stop?
• 34:38
  SPEAKER_02: I'm in the car with you and you're listening to this client, right?
• 34:40
  SPEAKER_04: Yeah, exactly.
• 34:41
  SPEAKER_04: I mean that it's important.
• 34:42
  SPEAKER_04: Like someone's not gonna follow you for the sake of you know obviously they took time from their day, yeah, from their job, or you know, their family time to ask me a few questions, and I'm more than happy to you know give that time.
• 34:53
  SPEAKER_02: It's which is that extra step that you take, not because you're required to take it from work, because you want to take it because you have that connection with your client.
• 35:02
  SPEAKER_02: Yeah, it's totally not because I'm scared of prom either.
• 35:04
  SPEAKER_02: It's yeah, no, no, of course not.
• 35:08
  SPEAKER_01: Pro loves us.
• 35:08
  SPEAKER_04: Yeah, pro loves us, but no, actually, like it's it's something that I would do for anyone, even you know, if it's the first time speaking to them, it's uh I think it's important because they are giving me their time.
• 35:18
  SPEAKER_04: The least I can do is, you know, give them that same uh time back.
• 35:23
  SPEAKER_04: Yeah, and even if I don't, I always make sure that you know I give a call back or respond in whatever way, just to know that you know, even if I'm busy, I'm I have I'm still working on your thing, not to worry at all.
• 35:34
  SPEAKER_04: Yeah, just give me a bit more time and uh I'll give back to that.
• 35:36
  SPEAKER_04: I think I turned out time's a mini decent.
• 35:38
  SPEAKER_04: So I think we are all okay on that end.
• 35:41
  SPEAKER_04: Not to mention the team that we have.
• 35:43
  SPEAKER_04: Obviously, yeah, shout shop shout out to uh LPs, uh back office.
• 35:48
  SPEAKER_02: So they do a hell of a lot of work.
• 35:50
  SPEAKER_02: Uh you know, can we say in here?
• 35:52
  SPEAKER_02: Technically, we can this Gen Z podcast.
• 35:54
  SPEAKER_04: We can say here I think we can a lot of hard work behind the scenes.
• 35:58
  SPEAKER_04: Let's rephrase that.
• 35:59
  SPEAKER_04: You know, T carton.
• 36:00
  SPEAKER_02: No, I think we just uh I think we should be able to swear in this podcast.
• 36:04
  SPEAKER_02: Um this Gen Z podcast, promo set go crazy.
• 36:06
  SPEAKER_02: We can be able to say, I won't say it, but we should be able to say maybe next episode if we start saying that that means we have to green.
• 36:13
  SPEAKER_04: So if we get success on this podcast, next podcast, yes, we are gonna go to town with it, right?
• 36:18
  SPEAKER_04: Exactly.
• 36:19
  SPEAKER_04: So yeah, I think there's a lot of people that you don't do the work and uh yeah, definitely it's uh yeah, just a part part of the day.
• 36:27
  SPEAKER_04: I would say more than part of the job.
• 36:29
  SPEAKER_04: Yeah.
• 36:29
  SPEAKER_01: Also, no, I feel like we touched a very wide scope of topics within this.
• 36:36
  SPEAKER_01: As long as you went touching, yeah.
• 36:40
  SPEAKER_01: That's fine, yeah.
• 36:42
  SPEAKER_01: I agree.
• 36:49
  SPEAKER_02: Oh man.
• 36:50
  SPEAKER_02: We touch on a lot of topics, yeah.
• 36:52
  SPEAKER_02: Yeah, we touch on a lot of topics.
• 36:54
  SPEAKER_02: But maybe in the next episode we can be a bit more specific, we can like dive into specific topics in terms of financial structures.
• 37:02
  SPEAKER_02: We know what we can recommend some of our friends do.
• 37:05
  SPEAKER_02: We can look at people in different uh jobs, right?
• 37:10
  SPEAKER_02: And like some products that they can use in terms of uh financial products from banks, because we know that doctors, engineers, people in essential in the essential work line.
• 37:21
  SPEAKER_02: There's a specific products that they have from banks, which a lot of them don't know about.
• 37:25
  SPEAKER_02: Yeah, absolutely.
• 37:26
  SPEAKER_02: Right, absolutely.
• 37:27
  SPEAKER_04: And as always, you know, you can uh save money, save only this mortgage insurance possibly.
• 37:33
  SPEAKER_02: We've got friends who have their own businesses and the completely different strategies that work from them.
• 37:39
  SPEAKER_02: Maybe we can talk about you know uh one of our friends who have a gardening business.
• 37:44
  SPEAKER_02: Exactly.
• 37:44
  SPEAKER_04: You know, some strategies they can use.
• 37:46
  SPEAKER_04: Yeah, absolutely.
• 37:47
  SPEAKER_04: You can do it all, and it's worth I'm not saying get it right now, but it's worth having that conversation and having a plan.
• 37:53
  SPEAKER_04: Yeah.
• 37:54
  SPEAKER_04: You know, and that's what's gonna, you know, end of the day, help you take a step with it's a commercial deal, home loan, you know, personal car loan, whatever it is, it's worth having the conversation.
• 38:06
  SPEAKER_04: Just don't dwell on it and miss out on yourself.
• 38:08
  SPEAKER_02: And and guys, please if your family or friends or your social circle is pressuring you to do something, but your country is telling you don't do it, just speak, maybe speak to a financial consultant.
• 38:24
  SPEAKER_02: Yeah, financial consultant, financial planner, financial planner.
• 38:27
  SPEAKER_02: What do you want?
• 38:28
  SPEAKER_02: Yeah, we got we got we got the exact financial planner.
• 38:32
  SPEAKER_02: Exactly.
• 38:32
  SPEAKER_02: They can speak to Joshua and then they can put it all out there because you don't have to buy a house for a financial planner to help you.
• 38:38
  SPEAKER_02: No, not at all.
• 38:39
  SPEAKER_02: You can still use a financial planner.
• 38:41
  SPEAKER_02: So yeah, if speak to someone that will help you get on the right track and get your mind right, so you know exactly, okay, I don't need to buy a house.
• 38:50
  SPEAKER_02: Well, maybe I can buy an investment property, rent it out.
• 38:52
  SPEAKER_02: So that's where property will grow in value, right?
• 38:58
  SPEAKER_02: My uh out of pocket is less if the property is negative digital.
• 39:02
  SPEAKER_02: I mean forget a positive media of property, good for you.
• 39:04
  SPEAKER_02: Absolutely.
• 39:04
  SPEAKER_02: Tax office is coming for you.
• 39:07
  SPEAKER_04: Exactly.
• 39:07
  SPEAKER_04: But yeah, you gotta be smart in a you know, in a time and generation where we spend so much time on Instagram, TikTok.
• 39:15
  SPEAKER_02: Instant gratification and and guys, you know, creating wealth is not instant from everything we've learned from Pramu, from Sonali, from Joshua, some of the clients.
• 39:25
  SPEAKER_02: It needs to be sustainable.
• 39:27
  SPEAKER_02: Successful clients we speak to needs to be, like you said, sustainable, consistent and discipline.
• 39:34
  SPEAKER_04: Yeah, absolutely.
• 39:34
  SPEAKER_04: So in a world of like misinformation or financial misinformation, I would definitely tell you to become financially literate with the right advice.
• 39:44
  SPEAKER_04: And obviously, whether it's here, you know, if you think you know somewhere else.
• 39:49
  SPEAKER_04: Yeah, I mean you don't become financially literate.
• 39:52
  SPEAKER_02: Go speak to someone else and then come speak to us.
• 39:54
  SPEAKER_02: Or speak to both of us and then you weigh like, oh, who gave you garbage and who gave you gold?
• 40:00
  SPEAKER_04: Yeah, who gave garbage and who gave you less garbage.
• 40:04
  SPEAKER_04: Oh so that's the Americans say it.
• 40:08
  SPEAKER_04: That's for you, Josh.
• 40:09
  SPEAKER_04: Hey Josh, it's our brother.
• 40:11
  SPEAKER_04: Yeah, garbage.
• 40:12
  SPEAKER_04: But um, yeah, definitely have a conversation.
• 40:16
  SPEAKER_04: Alright, Sharing.
• 40:18
  SPEAKER_02: Thanks, bro.
• 40:19
  SPEAKER_02: I can't say pro Gen Z is now Gen Z and uh good episode.
• 40:24
  SPEAKER_02: I think we should definitely do another episode.
• 40:25
  SPEAKER_02: I I I feel very chill talking to you.
• 40:27
  SPEAKER_02: Yeah, let's try not saying I don't like doing podcast episodes in Pramo, but doing workouts.
• 40:35
  SPEAKER_03: Alright.
• 40:36
  SPEAKER_00: Thank you for tuning in to another episode of the TFS Podcast, where we turn knowledge into action and big goals into real results.
• 40:46
  SPEAKER_00: Now, don't forget to like and subscribe and share this episode with someone working towards their next financial step.
• 40:55
  SPEAKER_00: Now, with that being said, until next time, keep building.