As the year draws to a close, we all have a list of things we need to do and plan for next year. But before we even start to think about next year, I want to take a moment to reflect on the year that has been.

The world of finance was a tough place to be at the start of the year, as the Banking Royal Commission seemed to place a great deal of pressure on the banks, which in turn, made getting finance for the average consumer like you and me very difficult.

I’m encouraged that this pressure has seemed to ease up in the second half of the year, making it a little easier for us all to reach our financial goals. This release of pressure got me thinking about some of the other finance related benefits 2019 has gifted us:

Interest rate cuts: While they haven’t always been passed on in full by the banks, if you have a variable rate mortgage, your minimum repayments should be less per month than at the start of the year. If you can afford it, an easy way to get in front of your mortgage is to keep paying the same amount each time your interest rate drops.

Bank loan assessment rates have dropped: I wrote about this earlier in the year but basically the banks asses your ability to repay a mortgage at much higher rates than your actual variable rate. Over the last few months the assessment rates have dropped so mortgages are becoming a little easier to obtain.
My wonderful clients: Perhaps a bit sappy but I am eternally grateful that I have such fantastic clients. As a small business operator, who does no external marketing I rely on word of mouth for any new business, so I thank you all for your business and any referrals I have received!

I hope you and your family have a restful holiday season and I look forward to catching up in 2020.

Michael