My week from hell

Right now I'm surrounded by more nuts than a fruitcake. 

I have legal letters firing around from a column I wrote last week (more on that next week). 

My daughter just ordered some baby goats (a replacement for the pony), which is going to end badly. 

I have Argentinian backpackers learning to drive my tractor (they keep screaming '¡la concha de la lora!' which ChatGPT translates as 'parrots vagina').

So naturally, this is when my editor rings:

"Did you see the inflation data that just came out? You need to write about interest rates this week … it's the biggest story in business".

Of course it is.

Breathe.

Newsflash: The price of everything is too damned high.

And that means the experts that predicted a Melbourne Cup interest rate cut finished at the back of the pack (again): we won't be getting a rate cut next week. In fact, if prices keep rising, the RBA's next move could be to raise rates.

And if reading that makes you feel queasy, I've got the perfect solution for you.

Grab your phone and go sit on the toilet.

Head to the MoneySmart website, and click on their repayment calculator. Add one percent to your repayments and see what that does to your mortgage. If that number makes your guts drop … well, you're in the right room for it.

Look, I've helped thousands of people stare down their debts, and the key to success is simple:

Set your repayments much higher (say, 10%).

Then, work out how the hell you'll make it happen.

Cut your own hair. Sell the jetski. Deliver pizzas. Whatever it takes.

The key with mortgage stress is simple: Panic early.

Life throws enough curveballs. The families who win are the ones who see the financial threat coming and act before they have to. Don't wait for the RBA to make you scream about parrots, get on that bloody tractor!

Tread Your Own Path!

P.S Only one question this week, but it’s a CORKER!