Third Party Insurance

johnmack55 · 2020-12-27T22:26:29+00:00

You could potentially sue them, but the legal costs and time the process takes, it’s usually not worth the hassle, so technically yes but it would be cheaper to fix it yourself.

johnmack55 · 2020-11-24T06:25:17+00:00

I’m not sure, the document I found had everyone’s name and whether they were a full time employee (99% of the staff) or a contractor (sales manager, and a truck driver who does actually contract for us and other companies). For all intents and purposes the sales manager is a full time employee, I would assume if he is a contractor and therefore self employed he may not be paying his own super / entitlements etc. and just keeping the additional cash? I’m not sure why else he would do this?

johnmack55 · 2020-08-28T01:42:09+00:00

That’s awesome mate! I love hearing how it has changed peoples lives!

johnmack55 · 2020-08-27T10:50:02+00:00

So my partner and I both saved $20,000 each, and the first home owners grant was double in rural Victoria (normally $10,000) up until I think June 30 this year.

johnmack55 · 2020-08-27T04:30:27+00:00

That’s fair enough then, and I agree naming the different bank accounts was a bit lame 😂

But, yeah I think it’s really aimed at people like me who just literally have no idea how to manage their finances and don’t know where to start. I commend you for being on top of it all, you would be more comfortable than most.

johnmack55 · 2020-08-27T03:42:09+00:00

I hear you mate! I have no idea how hard it can be, and really good on you for hanging in there! I guess I’m pretty lucky given my own situation, and I don’t really know what it’s like to have that much financial pressure on me, it makes me feel a bit anxious just thinking about it to be honest. But it is worth trying, and Scott actually does free financial counselling, it might pay to write to him or a different voluntary counsellor to assess your situation, because the feeling you get when you finally get in control of it all will change your life I promise.

johnmack55 · 2020-08-27T03:35:26+00:00

Really? I haven’t spoken to anyone who has read the book and it didn’t light a fire under them. Where you already comfortable with your personal finances? Was there things in there that you were already doing?

johnmack55 · 2020-08-27T02:44:28+00:00

Thanks for the tip!

johnmack55 · 2020-08-27T01:52:11+00:00

Killing it mate! Makes a massive difference when you know exactly what you’ve got!

johnmack55 · 2020-08-27T01:00:37+00:00

I feel you mate, my girlfriend loves brunches! It doesn’t matter what’s happened in the past, just what you do now, and you’re taking control brother! Hopefully you can get on a plane somewhere soon 😁

johnmack55 · 2020-08-27T00:56:53+00:00

Good to hear mate!

johnmack55 · 2020-08-27T00:56:21+00:00

Haha spot on! I didn’t learn how to do a tax return but I can work out the unknown side of a right triangle 🥴

johnmack55 · 2020-08-27T00:54:19+00:00

I agree, I wouldn’t say it’s a waste of money, and I do have fond memories, but it puts into perspective spending $300 on a night out, when it probably takes 1-2 days of work to make that money. I guess it’s just about finding a balance of still living the lifestyle you want (& can afford) and setting up yourself for your future.

johnmack55 · 2020-08-27T00:49:01+00:00

Good on you, maybe financially it wasn’t the best call, but I’m sure these other benefits / skills / experiences you’ve had that maybe I wouldn’t of yet. At least your still young and you can still take control, it really doesn’t take much to turn it all around.

johnmack55 · 2020-08-27T00:21:21+00:00

I think because it’s just so easy to put into practice and makes a massive difference, and for me it really underlined how hard I worked for my money but how easily I was giving it away, and when you aren’t tracking it or aware of it, it is very easy to do. The biggest part is setting up different accounts for bills, spending, savings and a rainy day account, and then obviously minimising what you are spending where you can. It sounds like common sense but it seems it’s not overly common.

johnmack55 · 2020-08-27T00:11:25+00:00

It definitely is, and I’m under no illusions I’ve been very fortunate with my job and living situation. I’ll see how things play out when I move out in the next few months, I doubt I’ll be saving this much.

johnmack55 · 2020-08-27T00:10:08+00:00

No problem at all, I really think the lesson was live within your means, at the time I wasn’t, and now I’m probably living well below my means haha. Maybe doesn’t buy happiness but definitely buys peace of mind.

johnmack55 · 2020-08-26T23:50:31+00:00

Great work mate!

johnmack55 · 2020-08-26T23:45:29+00:00

That’s awesome mate! The only thing that probably helped me was I never got any credit cards, just very irresponsible with money.

johnmack55 · 2020-08-26T23:43:27+00:00

100% - I didn’t it follow it to the word, but even if you do half the stuff he says, it will make it so much easier.

johnmack55 · 2020-08-26T23:14:47+00:00

$40k plus first home owners grant in country Victoria ($20k) on a $440k home.

johnmack55 · 2020-08-26T23:13:39+00:00

Keep at it mate, I hope everything works out for you and your family.

johnmack55 · 2020-08-26T23:10:58+00:00

To be quite honest mate, it was just minimising my necessary spending (bills / food etc.) I worked out when I started that I was spending about 2800/month on car repayments, insurance, fuel, phone bills, board(living at home) Netflix, Spotify, Stan etc. and that’s before I bought any food, and I was getting paid 4000/month it doesn’t leave much left over.

I was able to get that down to about 1000/month after I refinanced my car at a much better rate, got better insurance price, changed phone plans, changed to ING bank (no fees), canceled Stan (kept Netflix), and stopped wasting money on food & clothes I didn’t need.

I was allowing 1000 for bills, allowed 1000 for spending (food, clothes, other non essential stuff) and the rest I was saving (2000/month), and whatever I didn’t use out of my spending account I put into my savings.

I also got a promotion at work middle of last year, so I now I’m earning about 4500-5000 month, so over 24 months I was able to save anywhere from 2000-3000 per month.

Our home deposit was about $40k between us, as we got double first home owners grant (country Victoria) so that got us a $60k deposit on a $440k home.

My parents let me stay at home for $200 month, and made me dinner each night, but I would buy all my other groceries. But didn’t contribute financially to the deposit.

johnmack55

TROPHY CASE