Show Notes
Paying $500 a week off your mortgage and watching almost all of it vanish back into interest at month's end that's the moment nearly every homeowner hits. In this episode, Michael sits down with Laura, AKA The Savvy Mam, to unpack the offset accounts, redraw strategies, and everyday "opportunities" that can shave years and hundreds of thousands of dollars off your home loan. 🔔 Subscribe & leave a comment with your questions — we build episodes around what YOU want to know. General advice only and not personal advice. CRN 485467 --------------------------------- In this episode: What "home" really means as an expat putting down roots in AustraliaWhy the offset account is the biggest aha moment most homeowners missThe truth about interest being charged daily and how weekly pay changes everything"Shiny new house syndrome" and the real cost of renovating too soonWhy both partners need to be on board (and the mental load that falls on women)How to question the bank's "discount" instead of chasing a better rateFixed vs variable framed as risk management, not beating the bankThe mortgage insurance refund trick most people have never heard ofTeaching kids about money with jars, Hot Wheels, and real trade-offs --------------------------------- Subscribe: https://www.youtube.com/@ThatBackyardPropertyPodcast Instagram: https://www.instagram.com/backyardpropertypod?igsh=MWhkOWx5YzJxdDc3ag== Website: https://tuskfinance.com.au Connect with Michael: Facebook: https://www.facebook.com/tuskfinancemk Instagram: https://www.instagram.com/mortgageswmichael LinkedIn: https://www.linkedin.com/in/michaelkilliner TikTok: https://www.tiktok.com/@backyardpropertypodcast Tusk Finance: [email protected] Connect with Laura, AKA The Savvy Mam Instagram: https://www.instagram.com/thesavvymam/ The Savvy Mam: https://stan.store/thesavvymam
Chapters: (00:00) The loyalty tax, smoke and mirrors, and $780k in interest(01:08) Welcome — meet Laura, The Savvy Mam(01:55) What "home" means as an Irish expat in Australia(03:36) From business page to mortgage education(05:00) Why her relatable, no-jargon message resonates(06:55) Shiny new house syndrome and the cost of renovating early(08:40) The offset account aha moment(11:30) Smoke and mirrors: why money stays taboo(13:14) Michael's first mortgage and the brutal first-month interest hit(14:25) Laura's house-and-land package and the LMI sting(16:45) Making the invisible visible: $780k interest on a $700k loan(18:40) Getting both partners on board and the mental load(19:35) Opportunity over "mortgage hacks" — family goals and visualising it(23:35) Why proactive brokers and the education piece matter(28:00) Decoding the bank's discount vs the rate(31:55) Fixed vs variable: hedging risk, not beating the bank(36:10) The goal shift: from mortgage-free to fully offset(38:00) Daily interest, multiple offsets, and clever points stacking(40:15) Teaching kids about money: jars, Vinnies, and Hot Wheels(45:10) The mortgage insurance refund most people miss(46:40) The single mum who'd save $485k in interest(50:45) What Laura is most proud of, personally and professionally(54:40) Final advice: take it back to basics with pen and paper(56:30) Wrap-up Produced by Podwave Studios: https://www.podwavestudios.au
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More from That Backyard Property Podcast
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Book a consult with Michael: https://calendly.com/d/cwrg-969-cjc
Perth home values are down 3.2% from their April peak, but still up 15.6% on a year ago. In this mini episode, Michael Killiner breaks down how existing owners should decide whether to keep, sell or restructure: the marginal buyer question, how to sell well in a market with more stock, and the loan levers that often matter more than your rate, from resetting your loan term and checking your valuation to interest-only expiries, cross-securitised loans, the loyalty tax and whether to fix now.
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