DR CHET SPEVENS | Finance Expert | CONTACT
Many Betootanese attend my weekly wealth management seminars down at the Old City District’s State Library. They know that in my seminars, I don’t shy away from telling it how it is.
And this is how it is: Owning your own house outright is something younger people should start considering to alleviate cost of living pain.
I know it’s not something that the youth want to hear right now, given that housing is almost as expensive now as it was back in the 80s when interest rates were 17%. But this is how it is, and if Dr Chet Spevens can’t tell his finance students the truth, then who will?
This is a plea to young Betootians across the entire region: Get up off your yoga ball and make owning your home outright your top priority. Not to flaunt it, not to be trendy, and certainly not to be ‘rad to the max,’ as the Gen Z’ers like to say on their TikityBoo Apps. It’s about crushing the cost of living pain.
Did you know that it’s only idiots who pay rent or a mortgage that even notice there’s a cost of living crisis? Folks like me who own their home outright think it’s nothing but a Labor hoax to raise taxes.
That’s because if you’re like me, a smart person, and you’re not paying 50% of your wage to rent or a mortgage, you’ve got that 50% to spend on the luxuries you’re currently missing out on. Luxuries like food and bills.
It’s that simple.
I often challenge my students with a profound question: Do young people even want to be financially independent? The response? Outrage, colourful language, and the occasional spit-ball attack. And that’s the crux of my argument.
If young people could stop being so hysterical about this so-called ‘cost of living’ crisis for one single moment, and stop scrolling their phones for videos of gigantic mountain bears winning awards for fattening themselves up in preparation of a winter’s hibernation, then they’d be able to direct their tiny-attention span to paying off their own home outright.
I tell them this: Free yourself from rent or mortgage payments, and you’ll work less, live more, and embrace the same happiness that my generation relishes. The key? Self-respect and financial independence.
So go on, alleviate the cost of living pain by owning your own home outright today.