In August, the RBA cut interest rates by 0.25 percentage points to 3.6 per cent.

While interest rates may have dipped, mortgage stress and housing affordability remain front-page issues in 2025.

Oldie But a Goldie - Dive into this episode from Season 3 to unpack what rate changes always mean for your home loan and budget. At the time of first recording, the Reserve Bank of Australia was in all sorts of scrutiny. Pete was able to map out where we are at in the history of interest rates. Ben wondered if Australia has any other weapons for fighting inflation. What debt should you try to get on top of first?

Pete provides strategies for you to immediately tackle the costs of borrowed money.

Got a question for the Money Team? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Ben chimes in to thank different members of the Facebook Group!

Specal shoutout to Shane, Stephen and Will - thankyou for adding value in the FB group!

Please send us suggestions / questions / topics for SEASON NINE!

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.

Key Takeaways:

• Hidden costs are prevalent across various transactions but can often be minimised by thoroughly reviewing terms and engaging in informed decision-making.
• The RBA's reviewed stance on credit card surcharges could significantly impact consumer savings in Australia, potentially changing how payments are processed.
• Financial literacy involves more than understanding visible expenses; it's crucial to delve into the fine print to uncover potential hidden fees.
• Real-world examples, such as fees associated with property transactions or subscriptions, highlight the necessity of awareness around potential 'break fees.'
• Biblical principles, like honesty and foresight, provide valuable ethical guidelines on managing financial transactions and understanding costs involved in purchases.

Notable Quotes:

1. "There's a hidden charge just to spend money." - Pete Burrows
2. "We read the quote, but we pay on the bill." - Pete Burrows
3. "Understand, nothing is really free. It's just a question of who's paying the cost." - Pete Burrows
4. "Future you will thank you though. Like you need to do the work, we need to look for the savings." - Pete Burrows
5. "We want the thing, but we don't understand everything beforehand." - Pete Burrows

Got a question, comment or personal story to share? Send it through at hopepodcasts.com.au. Ben and Pete will get stuck into it on a future episode.

Pete Burrows is an accountant for small business and individuals with Lower Russell and Farr in Penrith, Western Sydney, Australia.

Ben McEachen hosts Hope Mornings on Hope 103.2FM in Sydney, Australia.

Support the show, a product of Hope Media: https://hope1032.com.au/donate/2211A-pod/

See omnystudio.com/listener for privacy information.