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Speaker 1: You can send in your fears, complaints and all sorts

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Speaker 1: of things for Grand Butler's new segment on Channel seven News,

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Speaker 1: Butler's Budget Busters Tuesday nights.

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Speaker 2: Graham is joining us now.

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Speaker 3: Hello, good morning.

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Speaker 2: So tell us about this segment and how people can

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Speaker 2: get involved.

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Speaker 4: Well, they can get involved very firstly by emailing us

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Speaker 4: if they've got some hacks or some ideas or some questions,

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Speaker 4: and that's it's a budget buster at seven dot com

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Speaker 4: dot au. That's the word seven and let us know

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Speaker 4: have a chat to us. But the whole idea of

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Speaker 4: the segment and today is an absolute case in point,

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Speaker 4: isn't it. With interest rates tip to go up again,

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Speaker 4: Yes to like a ten year high. I think it's

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Speaker 4: coming at you from every angle, isn't it. It is

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Speaker 4: it's going to take your money. So, whether it's a

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Speaker 4: scam or if it's the Reserve Bank or it's your

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Speaker 4: health fund, which we're looking at tonight, it's just getting tighter,

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Speaker 4: isn't it. I mean, you guys must see that too.

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Speaker 3: Big jump.

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Speaker 2: Scammers.

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Speaker 1: I apologize to everyone who I haven't call back because

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Speaker 1: I assumed you were a scatted your message just if

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Speaker 1: in doubt, I just deleted.

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Speaker 2: I'm sorry. I'm not going to take any chances.

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Speaker 3: It's frightening, isn't it.

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Speaker 1: It's incredible. Now let's talk about that interest rate hike.

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Speaker 1: Another one is expected today. What are the ex what

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Speaker 1: are what are the experts saying about this might balance out?

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Speaker 4: Well, everyone's saying to a point twenty five percent hike

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Speaker 4: is likely. So that'll be the tenth in a row.

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Speaker 4: I think that takes official rate to three point six percent,

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Speaker 4: and that's the highest it's been for over ten years.

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Speaker 4: So if you've got a mortgage, you know, jeepers, you know.

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Speaker 4: I think that's an extra seventy dollars a month on

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Speaker 4: top of each the other jumps. So you know, if

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Speaker 4: an average mortgage, I think between the start of the increases,

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Speaker 4: I think you're almost like a grand a month worse one.

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Speaker 4: There's a lot of money.

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Speaker 5: A lot of people in Australia gram with seven or

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Speaker 5: eight hundred thousand dollars mortgages too. That's close enough to

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Speaker 5: fifteen hundred or two grand, isn't it?

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Speaker 3: And that's huge jump.

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Speaker 4: Money out of your pocket. And you know, we're seeing

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Speaker 4: things go up with the supermarket, We're seeing other things

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Speaker 4: go up and tonight we're going to talk about the

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Speaker 4: health funds which are going up and again, and we'll

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Speaker 4: give you some ideas about how you can lessen that.

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Speaker 4: And that's the idea of this segment. We can't do

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Speaker 4: them a lot about what's going on around us, because

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Speaker 4: there's a lot you can do yourself. And I think

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Speaker 4: it's sort of got born out of some discussion our office.

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Speaker 4: And you know, a lot of us are quite lazy,

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Speaker 4: and I mean financially lazy. You know, you set and forget,

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Speaker 4: and you don't go back and check things, and like

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Speaker 4: there's a lot you can actually do. You spend an

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Speaker 4: hour or two doing some homework. I'm calling this a

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Speaker 4: health fund check out, okay, you know, oh and yeah yourself,

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Speaker 4: and you'd be actually amazed at some of the things

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Speaker 4: and some of the ways you can actually save some money.

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Speaker 2: What is it with that?

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Speaker 1: I mean, I reckon out of all the you know,

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Speaker 1: the outlays each month, your gas, the health insurance is

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Speaker 1: one of the worst. And I feel like I'm paying

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Speaker 1: this out every month for nothing. You know, at least

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Speaker 1: when I pay my phone bill, I get a phone service.

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Speaker 4: I guess insurance though the things you don't want to

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Speaker 4: use it. No, you don't want to look. Medicine's expensive.

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Speaker 4: I think that's what it boils down to, and services.

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Speaker 3: I guess in the health industry. No, it is really hard.

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Speaker 4: And I guess the more people you know, leave these funds,

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Speaker 4: the harder it's going to get as well, because when

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Speaker 4: they decide to go back, you're going to get whacked

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Speaker 4: with higher premiums because of these lifetime lock ins that

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Speaker 4: the government introduced sometime ago. So, yeah, you're right, who

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Speaker 4: wants to pay it? But you can't do without it?

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Speaker 5: Lis, I was talking about scams, and you know, I

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Speaker 5: did delete an email the other day. It's from my

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Speaker 5: health fund and said, Dan April, your bills going up

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Speaker 5: twenty dollars a month.

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Speaker 3: Yeah, that's true McCoy, because I got the follow up.

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Speaker 3: If we didn't hear from you twenty I know you.

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Speaker 2: Are encouraging viewers to send in the you know things

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Speaker 2: to what was that? Starting it at seven?

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Speaker 4: Number again?

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Speaker 2: That number again?

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Speaker 4: Budget buster at seven dot com the world? Are you now?

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Speaker 1: What is the most common query that people come to you? Well,

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Speaker 1: you're at your dinner on Saturday night and someone comes

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Speaker 1: up and goes, Butler, what what's the most common question.

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Speaker 4: Look, I think it's it's more of a complaint, isn't it?

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Speaker 4: Just that said, you know that you know it's not

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Speaker 4: a wing harder a winge. You know that you know

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Speaker 4: the mortgage has gone up. That's the big one. And

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Speaker 4: a little while ago we did a story and this

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Speaker 4: is you know, this is the take home this morning.

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Speaker 4: If you haven't spoken to your bank in the past

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Speaker 4: six months, you really need to because just by asking

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Speaker 4: the question, they're probably going to drop off a percentage

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Speaker 4: of you.

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Speaker 3: The best rate you can do.

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Speaker 1: Yeah, absolutely so for people that aren't very savvy, take

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Speaker 1: take me through it.

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Speaker 2: For dummies. You ring your bank, who do you ask

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Speaker 2: to speak to?

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Speaker 1: Because God knows you can't get it?

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Speaker 4: It depends on the bank, of course. But look, my

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Speaker 4: advice would be get hold of a mortgage broke it.

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Speaker 2: Let them do the work for you.

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Speaker 4: They know who to speak They're going to make it

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Speaker 4: a lot easy and they're not going to You don't

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Speaker 4: need to pay the mortgage broke it gen it's this

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Speaker 4: fees attached to.

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Speaker 3: Normally the bank person.

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Speaker 4: Yes, so look they know what a good deal, isn't it.

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Speaker 4: Obviously which deal you get depends on your circumstances. You know,

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Speaker 4: how much equity you've got in your property, how much

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Speaker 4: you were and all those sorts of things come into play.

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Speaker 4: But but if you just leave it, the bank isn't

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Speaker 4: going to come and tap you on the shoulder and says,

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Speaker 4: guess what we've looked at you. You looked at your lone.

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Speaker 4: You're paint too much, let us give you some money.

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Speaker 4: They're never going to do that.

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Speaker 3: When the rates go down, it's not as quick as

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Speaker 3: the road's going.

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Speaker 4: Oh no, it's a.

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Speaker 1: Good chance you went through a mortgage broken to by

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Speaker 1: the place. So go back to absolutely the rates there.

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Speaker 4: Absolutely, that can represent hundreds of dollars a month saving

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Speaker 4: and now more than ever that's important.

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Speaker 3: Right, And don't go to a bank branch because last three,

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Speaker 3: which one?

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Speaker 4: Which one did you go to?

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Speaker 3: There was just an empty building.

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Speaker 4: That's crazy, isn't it?

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Speaker 2: All right?

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Speaker 1: Well, it's all on tonight and every Tuesday night. Butler's

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Speaker 1: budget Busters today. I normally like a good bit of alliteration.

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Speaker 3: But triple that triple BA. Good to say, leave you

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Speaker 3: money on the fridge.