WEBVTT - I did this before I moved into my first property... 0:00:03.840 --> 0:00:07.119 Good morning, everyone, and welcome back to Sugar Mamma's Fireplay. 0:00:07.200 --> 0:00:10.400 I am your host's financial planner, Cannah Campbell, and I 0:00:10.440 --> 0:00:12.960 am here to make sure that you start your Mondays 0:00:12.960 --> 0:00:16.920 off on a fired up, ignited note when it comes 0:00:16.920 --> 0:00:21.680 to achieving all of your financial goals and dreams. Now, 0:00:21.680 --> 0:00:25.079 today we're talking about preparing financially for moving out of 0:00:25.120 --> 0:00:29.000 home or even better, moving into your new home. I 0:00:29.040 --> 0:00:30.600 want to talk to you about the things that you 0:00:30.640 --> 0:00:35.199 should do before you move so that you are completely organized, prepared, 0:00:35.640 --> 0:00:39.000 and in control at all times of your money, and 0:00:39.080 --> 0:00:42.720 that you move correctly with a great sense of release. 0:00:43.600 --> 0:00:46.480 You can continue on making great progress with your own 0:00:46.520 --> 0:00:50.240 financial goals and dreams, and you have an underlying sense 0:00:50.479 --> 0:00:55.200 of security and faith in yourself. So let us begin. 0:01:13.680 --> 0:01:17.000 Welcome back everyone to Sugar Mommas five lay As I said, today, 0:01:17.000 --> 0:01:20.000 we're gonna be talking about how to prepare financially for 0:01:20.200 --> 0:01:24.160 moving out of home or actually moving into your new 0:01:24.200 --> 0:01:27.319 home when you have moved on from becoming a renter 0:01:27.560 --> 0:01:30.840 to actually being a mortgage holder. So these are the 0:01:30.880 --> 0:01:33.520 things that I recommend you do beforehand so that you 0:01:33.560 --> 0:01:36.920 are completely prepared. And just a quick reminder to everyone 0:01:37.000 --> 0:01:39.760 that this episode, as is all of my episodes, they 0:01:39.800 --> 0:01:44.680 are general in nature and never product personal investment or 0:01:44.760 --> 0:01:49.040 strategic advice at any time. So what do I recommend 0:01:49.520 --> 0:01:53.160 all right? Number one, you must do a budget before 0:01:53.200 --> 0:01:56.680 you move out. You need to understand what your real 0:01:56.920 --> 0:02:02.160 living expenses are and what you can afford. Now, what 0:02:02.200 --> 0:02:04.640 I recommend you do if you're moving out from home 0:02:04.840 --> 0:02:08.400 or you're moving from a being a renter into your 0:02:08.480 --> 0:02:11.600 own home is do a lot of time understanding what 0:02:11.639 --> 0:02:15.680 the new expenses include. I've had so many people through 0:02:15.720 --> 0:02:18.400 the Budget and cashuw Academy reach out to me and 0:02:18.480 --> 0:02:21.640 share with me that they sort of fell apart financially 0:02:21.639 --> 0:02:26.280 when they realized the ongoing expenses and just the consistent 0:02:26.360 --> 0:02:30.280 ongoing expenses of becoming a home owner. You know, when 0:02:30.280 --> 0:02:33.040 a dishwasher broke, instead of calling the landlord or the 0:02:33.040 --> 0:02:35.640 property manager, they had to pay for it themselves, and 0:02:35.680 --> 0:02:37.960 it was a huge shock to them and it was 0:02:38.440 --> 0:02:41.639 quite hard to overcome financially and did a bit of 0:02:41.720 --> 0:02:45.200 damage to their budget. So know this in advance, and 0:02:45.280 --> 0:02:48.119 know that you have to include in your newer budget 0:02:48.760 --> 0:02:53.200 expenses that you don't necessarily experience right now, and if 0:02:53.240 --> 0:02:55.200 you're wondering what they could be a great place to 0:02:55.200 --> 0:02:57.760 start is to obviously jump online, but also speak to 0:02:57.960 --> 0:03:00.480 family and friends. Family and friends that are you've already 0:03:00.480 --> 0:03:02.359 moved out of home and are now paying rent and 0:03:02.440 --> 0:03:04.880 understand that you have to pay for cleaning products and 0:03:04.919 --> 0:03:09.440 toilet paper, and internet and energy and sometimes gas, and 0:03:10.160 --> 0:03:14.679 home and contents insurance and sometimes fox cell. Speak to 0:03:14.720 --> 0:03:16.160 those people as they can give you a list of 0:03:16.240 --> 0:03:18.760 things that shocked them when they moved out of home 0:03:18.800 --> 0:03:21.800 for the first time. And for renters that are about 0:03:21.840 --> 0:03:25.160 to move into their first home as a homeowner, speak 0:03:25.160 --> 0:03:27.160 to people who have a mortgage and are living in 0:03:27.200 --> 0:03:31.680 their home and ask them what expenses did you find 0:03:31.840 --> 0:03:36.720 caught you by surprise? Wear and tear, new carpet, maybe 0:03:36.800 --> 0:03:38.960 damage to the home, things that need to be replaced, 0:03:39.120 --> 0:03:43.480 new fridges and freezers, the strata, the home and contents, insurance, 0:03:43.560 --> 0:03:46.600 water bills, council rates, all those things that you may 0:03:46.680 --> 0:03:51.040 have just not known about innocently because you were renting 0:03:51.160 --> 0:03:53.880 or you had the comfort luxury of living at home. 0:03:54.400 --> 0:03:57.200 So do a new budget includes all of these expenses 0:03:57.480 --> 0:04:00.240 and of course round everything up to them when there 0:04:00.280 --> 0:04:03.800 is ten dollars twenty dollars, fifty dollars, one hundred dollars, 0:04:03.960 --> 0:04:06.400 or even one thousand dollars, so you have some safe 0:04:06.480 --> 0:04:09.840 buffers in place, because even though you're doing as much 0:04:09.840 --> 0:04:12.200 as you possibly can to make sure that your budget 0:04:12.240 --> 0:04:15.880 is very accurate, there could quite possibly be something that 0:04:15.920 --> 0:04:18.880 catches you buy surprise that is particularly unique for the 0:04:19.279 --> 0:04:21.919 home or the property that you are about to move into. 0:04:23.040 --> 0:04:24.919 Next thing I recommend you do, and this is probably 0:04:24.960 --> 0:04:28.440 the number one most important tip of this episode, and 0:04:28.480 --> 0:04:34.919 that is dress rehearsal, practice practice the new budget before 0:04:35.160 --> 0:04:39.560 you move. So if you are living at home, practice 0:04:40.480 --> 0:04:44.320 paying rent, have the equivalent coming out of your everyday 0:04:44.360 --> 0:04:46.960 account is what you would pay for rent, and have 0:04:47.080 --> 0:04:50.040 that rent money go into a separate, dedicated savings account 0:04:50.080 --> 0:04:53.400 so it feels real. This will be a quick eye 0:04:53.400 --> 0:04:56.080 opener to see if you are really ready and can 0:04:56.120 --> 0:04:59.360 financially afford to move out of home. And of course 0:04:59.400 --> 0:05:01.360 there are people in situations who have to move out 0:05:01.400 --> 0:05:03.880 of home. It's not a choice, but this may then 0:05:03.920 --> 0:05:06.000 help you give you a great guide as to how 0:05:06.080 --> 0:05:08.880 much you can afford in rent, and it will also 0:05:08.920 --> 0:05:10.839 be quite an eye open to see all of the 0:05:10.880 --> 0:05:13.359 new expenses that come from moving out of home and 0:05:13.400 --> 0:05:16.080 how they quickly add up and perhaps where you need 0:05:16.160 --> 0:05:18.800 to maybe cut down on other lifestyle expenses that you 0:05:18.839 --> 0:05:23.760 were previously enjoying. By practicing before you get out there 0:05:23.800 --> 0:05:25.479 and do it will mean that you are so much 0:05:25.520 --> 0:05:29.040 more resilient, so much more prepared, and a lot calmer 0:05:29.040 --> 0:05:31.920 when it comes through handling any sort of sudden shocks 0:05:31.960 --> 0:05:35.200 or surprises. And the longer you can do this, the better. 0:05:35.640 --> 0:05:37.960 And the great thing about doing this is that you're 0:05:38.000 --> 0:05:40.039 going to force you to save up some extra money 0:05:40.040 --> 0:05:43.120 as well, because that special separate savings account that you've 0:05:43.160 --> 0:05:46.800 established for the pretend rent money or the new mortgage 0:05:46.800 --> 0:05:49.840 repayments can build up and then you can use that 0:05:49.880 --> 0:05:52.640 as emergency money, or use that to make a lumps 0:05:52.680 --> 0:05:54.960 on payment onto your home loan if you've got your 0:05:54.960 --> 0:05:57.960 redoor facility switched on. So if you are renting and 0:05:58.000 --> 0:05:59.720 you're paying, say three hundred dollars a week, and then 0:05:59.720 --> 0:06:02.560 you know that you're becoming a homeowner and you're going 0:06:02.600 --> 0:06:05.719 to be paying, for example, three hundred and fifty dollars 0:06:05.800 --> 0:06:08.520 per week, make sure you put a regular savings plan 0:06:08.600 --> 0:06:10.720 of fifty dollars per week or whatever the equivalent is, 0:06:10.920 --> 0:06:13.760 so that you can understand and feel what that true 0:06:13.760 --> 0:06:19.200 expense is before you make any major investment decisions, commitments, 0:06:19.320 --> 0:06:22.600 or financial decisions. And if you find this is too 0:06:22.680 --> 0:06:25.320 much and you've done something too early or too soon, 0:06:25.720 --> 0:06:28.680 you've got the benefit of knowing this in advance. So 0:06:28.720 --> 0:06:31.120 perhaps you delay moving out of home, or you find 0:06:31.120 --> 0:06:34.360 something that's more cost effective, or you find a home, 0:06:34.560 --> 0:06:36.720 or perhaps you decide, instead of moving into the place 0:06:36.760 --> 0:06:38.440 that I've just purchased, I'm actually going to rent it 0:06:38.440 --> 0:06:40.520 out for six months to buy me some breathing space 0:06:40.800 --> 0:06:42.880 so I can get back on top of my emergency 0:06:42.920 --> 0:06:45.440 money or any other debts, or I can give myself 0:06:45.480 --> 0:06:48.560 more time to help prepare for the new outgoing expenses 0:06:48.560 --> 0:06:52.640 that come from owning a property. The dress rehearsal is 0:06:52.680 --> 0:06:57.160 something you will not regret. Number three furniture. Moving out 0:06:57.200 --> 0:06:59.680 of home is so exciting and one of the nicest 0:06:59.680 --> 0:07:02.080 things about moving out of home is it's such an 0:07:02.080 --> 0:07:04.359 exciting chapter of your life because you're really starting to 0:07:04.360 --> 0:07:07.720 take control and design your life and our home. Where 0:07:07.720 --> 0:07:10.720 we go home, we sleep, we feel safe, we switch off, 0:07:10.760 --> 0:07:13.200 we relax, where we reach out to our batteries. It's 0:07:13.240 --> 0:07:16.160 a very sacred space. So a lot of us naturally 0:07:16.160 --> 0:07:20.120 want to style and decorate our home. Now, buying furniture 0:07:20.360 --> 0:07:24.400 can be incredibly expensive, but it doesn't necessarily have to be. 0:07:24.960 --> 0:07:28.240 So understanding that where you can source furniture in a 0:07:28.280 --> 0:07:32.200 financially savvy way is so worthwhile. And I will also 0:07:32.320 --> 0:07:34.680 say knowing where you should splurge and where you should 0:07:34.680 --> 0:07:38.000 save is also worthwhile. Of course, we have gum true, 0:07:38.040 --> 0:07:40.920 we have Facebook Marketplace, We have so many accounts on 0:07:41.000 --> 0:07:45.160 Instagram selling furniture or even beautiful designer pieces of furniture 0:07:45.160 --> 0:07:47.800 at the fracture of the prices. So make sure you 0:07:47.920 --> 0:07:51.120 try and save some money where you can and know 0:07:51.280 --> 0:07:54.040 what you're prepared to buy. We love to save some 0:07:54.080 --> 0:07:56.400 money and have you know that beautiful dining table your 0:07:56.480 --> 0:07:59.559 dreams or that beautiful comfortable soul through your dreams versus 0:07:59.640 --> 0:08:02.040 where you actually do need to buy something brand new. 0:08:02.400 --> 0:08:05.240 For example, for me personally, I'd never buy a pre 0:08:05.320 --> 0:08:08.240 loved mattress. I value a good night's sleep. I want 0:08:08.280 --> 0:08:11.360 a really good quality mattress where I can feel comfortable, 0:08:11.600 --> 0:08:15.280 my muscles can rest and recharge. So for me, I 0:08:15.320 --> 0:08:18.520 will happily buy a prelove sofa or dining table or 0:08:18.560 --> 0:08:21.040 coffee table. If it means I can have money enough 0:08:21.080 --> 0:08:24.360 money set aside, then invest in a good quality mattress. 0:08:24.680 --> 0:08:28.280 So use this time to research and explore. And if 0:08:28.280 --> 0:08:31.080 you ever want to know where I sauce beautiful furniture 0:08:31.240 --> 0:08:33.520 at a fraction of price, send me a DM on 0:08:33.640 --> 0:08:36.600 Instagram and I'll link all the accounts for you. Number 0:08:36.720 --> 0:08:41.400 four D clutter. So moving is a great opportunity to 0:08:41.440 --> 0:08:43.000 go through your stuff. Well you kind of have to 0:08:43.000 --> 0:08:45.079 go through your stuff to pack it up, But go 0:08:45.120 --> 0:08:48.160 through your clutter and go, Okay, what actually can I 0:08:48.160 --> 0:08:50.360 get rid of and what can I actually sell and 0:08:50.360 --> 0:08:53.360 make some extra money. And of course that money that 0:08:53.440 --> 0:08:57.280 you raise can go towards your emergency savings account and 0:08:57.360 --> 0:08:59.520 help make sure that you are far more prepared and 0:08:59.559 --> 0:09:02.400 financially resilient in moving. Or perhaps that money can go 0:09:02.440 --> 0:09:06.120 towards making a few mortgage repayments into your property before 0:09:06.120 --> 0:09:08.640 you even moved in, so you're really ahead of the game. 0:09:09.240 --> 0:09:11.760 But sit down and go through the things that you 0:09:11.800 --> 0:09:14.800 can sell. And the one bit of advice I can 0:09:14.840 --> 0:09:16.480 give you right now is someone who has a few 0:09:16.480 --> 0:09:19.960 things listed online at the moment is selling sometimes takes 0:09:20.000 --> 0:09:22.600 a while. You don't want to be in a position 0:09:22.600 --> 0:09:26.200 where you have to dramatically and drastically drop your prices 0:09:26.240 --> 0:09:28.200 just to quickly get things sold because they're not moving 0:09:28.240 --> 0:09:31.240 fast enough. Understand it may take time. So the quicker 0:09:31.240 --> 0:09:34.400 you can list things, the better. And remember, one man's 0:09:34.440 --> 0:09:37.080 trash is another man's treasure. And the more we can 0:09:37.120 --> 0:09:40.240 sell to the circular economy, the less we are putting 0:09:40.400 --> 0:09:45.040 in landfill. So feel good financially, but also feel good 0:09:45.120 --> 0:09:48.760 from an environmental point of view. Number five bills. I 0:09:48.760 --> 0:09:51.000 know I've already touched on the importance of the new 0:09:51.040 --> 0:09:52.719 bills that are going to be creeping in your life 0:09:52.720 --> 0:09:56.360 when it comes to renting and being a mortgage homeowner. 0:09:56.880 --> 0:10:00.640 But can I share with you a brilliant hack bills, 0:10:01.000 --> 0:10:05.040 and that is to be ahead, be ahead of those bills. 0:10:05.640 --> 0:10:08.040 So what I share with people in my budget and 0:10:08.080 --> 0:10:11.560 cash Flow Academy is a really clever hack where you 0:10:11.800 --> 0:10:14.720 take those irregular bills such as the quarterly bills, and 0:10:14.800 --> 0:10:18.240 pay them not only monthly, but one month in advance, 0:10:18.640 --> 0:10:22.640 so that when that bill comes in it's zero dollars. Owing. 0:10:23.040 --> 0:10:26.720 For example, our water bill averages around about three hundred 0:10:26.800 --> 0:10:30.280 and sixty dollars per quarter. So not only do I 0:10:30.320 --> 0:10:33.880 pay one hundred and twenty dollars per month using the 0:10:33.920 --> 0:10:37.760 biller code, because Sydney Water is a quarterly bill, I 0:10:37.960 --> 0:10:40.319 have paid it one month in advance. Now, initially this 0:10:40.360 --> 0:10:41.800 is a little bit harder to do. It's a bit 0:10:41.800 --> 0:10:44.120 of a stretch because you're having to almost pay two 0:10:44.160 --> 0:10:48.440 months upfront. But once you've done it, it's brilliant. It's great, 0:10:48.880 --> 0:10:50.880 and I don't need to think about it. I just 0:10:50.960 --> 0:10:54.160 automatically do this every single month. That money when I 0:10:54.200 --> 0:10:56.480 get paid, goes to Sydney Water, and I do the 0:10:56.520 --> 0:11:00.000 same thing with my other quarterly bills. I've also got 0:11:00.120 --> 0:11:02.880 the same thing going with my energy bills and my 0:11:02.960 --> 0:11:05.080 gas bills, but they come out on a monthly basis 0:11:05.080 --> 0:11:08.840 because my energy and gas provider allows this. But you 0:11:08.920 --> 0:11:12.360 don't have to wait until that quarterly or bi annual 0:11:12.440 --> 0:11:15.120 or annual bill comes in. You can actually pay it 0:11:15.600 --> 0:11:18.440 monthly and even a month in an advance, so that 0:11:18.480 --> 0:11:20.400 you never actually owe any money. And this can be 0:11:20.480 --> 0:11:23.080 really good for your credit score as well, because it 0:11:23.240 --> 0:11:25.680 means that it's highly unlikely that you're going to miss repayment. 0:11:25.720 --> 0:11:29.240 Because you're creating consistency in your budget and cash flow, 0:11:29.360 --> 0:11:32.240 you're less likely to forget about a bill accidentally, and 0:11:32.320 --> 0:11:34.559 of course it makes it so much easier to stick 0:11:34.559 --> 0:11:37.839 to your budget because you don't have those that volatility 0:11:37.960 --> 0:11:41.240 or that irregular expense that can sometimes catch us by 0:11:41.280 --> 0:11:44.839 surprise because we're not properly prepared for it. So treat 0:11:44.920 --> 0:11:48.800 your bills by paying them upfront and being ahead and 0:11:48.840 --> 0:11:51.480 break them down in the same cycle as you get paid, 0:11:51.600 --> 0:11:55.959 such as monthly. Tip Number six is removal US. Now, 0:11:56.200 --> 0:11:58.760 removal less can be incredibly expensive and there is a 0:11:58.880 --> 0:12:03.040 wide range of different services and therefore different costs, So 0:12:03.440 --> 0:12:06.280 do your research in advance. You do not want to 0:12:06.320 --> 0:12:08.920 be having to pay a fortune to a removal ust 0:12:08.960 --> 0:12:11.720 because you didn't book it in time and everyone's booked out. 0:12:12.040 --> 0:12:14.559 Understand there are certain days of the weeks where they 0:12:14.640 --> 0:12:17.800 charge a premium. So if by doing this you can 0:12:17.840 --> 0:12:21.200 actually try and strategically time your move to be a 0:12:21.280 --> 0:12:25.520 lot more cost effective. Also, understand on what you can 0:12:25.600 --> 0:12:28.000 do is to be creative when it comes to that move. 0:12:28.400 --> 0:12:31.040 What can you do yourself? Can you swap cars with 0:12:31.080 --> 0:12:32.800 someone for the day, or can you lean on a 0:12:32.840 --> 0:12:34.839 friend to help you, or can you go and rent 0:12:34.880 --> 0:12:36.920 a ute or a van for the day to help 0:12:37.040 --> 0:12:41.000 move items safely without them getting damaged or injuring yourself 0:12:41.320 --> 0:12:44.000 in order to save some money. And of course when 0:12:44.000 --> 0:12:45.559 you look at those removalus, look at it the way 0:12:45.600 --> 0:12:48.040 that they're charged. They charge a flat fee per day 0:12:48.600 --> 0:12:51.800 or do they charge by the hour, whichever way you go, 0:12:51.960 --> 0:12:54.000 try and look at it as a way of saving money, 0:12:54.000 --> 0:12:57.160 because the more you can do yourself, they say over 0:12:57.200 --> 0:13:00.120 a weekend or getting up earlier in the morning and 0:13:00.160 --> 0:13:01.680 doing as many trips as you can, you're going to 0:13:01.720 --> 0:13:04.559 save a lot of money. And also it means you 0:13:04.559 --> 0:13:08.200 can just leave those bulky heavy lifting items to them 0:13:08.240 --> 0:13:11.040 because they are the experts. But there are lots of 0:13:11.040 --> 0:13:14.120 different options, and I have to say I'm saying it's 0:13:14.160 --> 0:13:16.200 not necessarily as a financial tip, but more of as 0:13:16.200 --> 0:13:21.400 an environmental one. Some removalists now have reusable boxes, so 0:13:21.440 --> 0:13:24.120 you don't need to go and buy cardboard boxes, which 0:13:24.200 --> 0:13:26.800 end up being they do guess get recycled, but sometimes 0:13:26.800 --> 0:13:29.800 they do get wasted and not properly recycled. Some of 0:13:29.840 --> 0:13:32.640 these removal us have these big green boxes which they 0:13:32.720 --> 0:13:35.120 drop off to your house two weeks beforehand to allow 0:13:35.200 --> 0:13:38.080 you to plan and prepare to make that move happen 0:13:38.160 --> 0:13:42.520 efficiently and waste as little money as possible. So being 0:13:42.640 --> 0:13:46.160 organized is well worth your time. And then tip number seven. 0:13:46.520 --> 0:13:49.240 This is really important if you want to stay in 0:13:49.320 --> 0:13:53.160 control and be organized at all times, and that is 0:13:53.240 --> 0:13:55.720 the moment you can make sure you go and update 0:13:55.960 --> 0:14:01.280 all of your details. Update you're addressed EE, with your 0:14:01.360 --> 0:14:06.320 superannuation company, with your insurance company, make sure your bank 0:14:06.520 --> 0:14:08.920 is sending your statements assuming you're getting them in the 0:14:08.920 --> 0:14:12.760 mail to your new correct address. Not only is this 0:14:12.800 --> 0:14:15.360 going to help make sure that you stay organized and 0:14:15.360 --> 0:14:18.480 informed as to where your money is, it's also going 0:14:18.480 --> 0:14:22.240 to help reduce the risk of identity theft. You want 0:14:22.240 --> 0:14:24.000 to make sure that you can stay on top of 0:14:24.200 --> 0:14:28.280 and track everything that involves your financial situation, whether it 0:14:28.280 --> 0:14:32.200 be a savings account, an investment portfolio, of superannuation portfolio. 0:14:32.480 --> 0:14:35.320 You need to make sure that that information goes directly 0:14:35.600 --> 0:14:39.800 to you at your correct address. This is why there 0:14:39.880 --> 0:14:43.000 is one point four billion dollars sitting with ACID right 0:14:43.040 --> 0:14:46.440 now in their unclaimed money fund, and most of those 0:14:46.480 --> 0:14:51.320 situations are where people have forgotten to update their contact details, 0:14:52.320 --> 0:14:55.000 so be organized. Write a list of all the people 0:14:55.120 --> 0:14:57.400 you need to get in contact with and update those 0:14:57.440 --> 0:15:01.200 details to the correct details as soon as you possibly can. 0:15:01.400 --> 0:15:04.040 This will also make you feel so much better about 0:15:04.080 --> 0:15:07.440 yourself because you'll know exactly where your money is, how 0:15:07.480 --> 0:15:10.600 much you've got, where it's invested, what policies you've got 0:15:10.640 --> 0:15:13.119 in place to protect you. And this sense of clarity 0:15:13.160 --> 0:15:15.480 will also help give you a greater sense of purpose 0:15:15.520 --> 0:15:18.320 and direction well into the future. So that is it 0:15:18.400 --> 0:15:22.160 for today's episode. Please feel free to send this episode 0:15:22.160 --> 0:15:24.360 to anyone you know that is thinking of moving out 0:15:24.360 --> 0:15:28.040 of home, or anyone that is renting right now and 0:15:28.160 --> 0:15:31.480 is wanting to become a homeowner. This will help give 0:15:31.520 --> 0:15:36.600 them so much more financial resilience, stability, and peace of mind. 0:15:37.040 --> 0:15:40.320 I cannot stress enough the importance of that practice that 0:15:40.480 --> 0:15:44.840 dress rehearsal in making that transition happen. It's something that 0:15:44.880 --> 0:15:47.320 I did personally for myself, and it allowed me to 0:15:47.440 --> 0:15:51.360 really understand what my new expenses were going to really 0:15:51.360 --> 0:15:55.520 look like as a homeowner, and that practiced dress rehearsal 0:15:55.600 --> 0:15:57.840 money yes that got saved up, and in fact I 0:15:57.880 --> 0:16:00.760 was able to make my first mortgage payment before I'd 0:16:00.800 --> 0:16:03.480 even moved into the property, so it actually saved me 0:16:03.560 --> 0:16:06.840 tens of thousands of dollars in interest and valuable time, 0:16:07.080 --> 0:16:10.240 which is something we all like saving. Alright, everyone, thank 0:16:10.240 --> 0:16:13.720 you so much for listening to today's episode. Until next Monday, 0:16:13.880 --> 0:16:17.880 Stay motivated, stay empowered, and never stop seeking new ways 0:16:17.920 --> 0:16:22.240 to achieve your financial goals and dreams. This is Sugar 0:16:22.280 --> 0:16:22.960 Mamma's fire.