Things I Use

The things listed below are things that I use currently in my everyday life on my journey to financial independence. I hope that they prove to be useful to you too!

Bank Accounts

loans.com.au

Yes, I have a mortgage.

Why am I with this mob? Basically, they have one of the cheapest advertised interest rates on the market. The reason being that they are almost entirely online, which reduces their costs greatly compared to many of their competitors.

I found them surprisingly easy to deal with, and settling my home loan was a breeze. Settling my loan took less than two weeks, which is a remarkable turnaround.

ING

Cheap, low fees, and half-decent interest rates (with their bonus rate). This is where I park my spending money before I find something worthwhile to spend it on. One of the best low-cost financial institutions around.

Investments

RateSetter

Yes, I have an account with RateSetter.com.au. This is a P2P lending platform where I literally lend money (like a bank) to average Australians through a third-party (RateSetter). The returns on investment are better than what you will find in term deposits at the bank (which barely keep in front of inflation – so you are effectively losing money here)

 LIC

Buying listed investment company stocks on the stock market gives you an automatic diversified portfolio which tracks the stock market pretty closely. If they are good enough for Warren Buffet’s wife (Warren’s advice for if he were to pass away), they are most definitely good enough for me.

I intend to invest heavily in these vehicles once my home is paid off.

 

Super

Host Plus

This is the super fund I use, and the particular product I use is the Indexed Balanced Investment option. The reason I chose this investment vehicle for my super is that the fees are tiny compared to other options; and the fees are what makes the biggest difference when it comes to returns on investment. Although it is a higher risk style investment, because I will be in it for the long term, I will be able to ride out the bumps and the lower fees will effectively increase my returns over time.

In addition, I like the hands-off approach (I’m not a fan of self-managed super funds).

In addition, I also have my insurances organised within my super. This is a tax effective strategy, and in addition, if my aim is to retire early, I feel I am better off using my super (which I won’t be able to access until later in life) to pay my insurance premiums.

Other Blogs

Below is a list of the other blogs that I enjoy to give me inspiration and motivation to continue on my journey.

Early Retirement Extreme

This is one of the first blogs I came across on the subject of retiring early, and really opened my eyes to the possibility. It is probably also one of the first ones that existed.

This guy is incredibly frugal, and probably a bit too extreme for newcomers to the movement.

Mr Money Mustache

Aussie FireBug

An Aussie blog who is doing incredibly well for himself; especially for someone still in their 20’s.

The Minimalists