 With a clear passion for supporting the financial and professional success of women, Get Smart Financial founder Rachael Bland was inspired by strong female role models from an early age.
Her company name Get Smart Financial was encouraged by the lead female character Agent 99 from popular spy comedy show Get Smart which she spent a lot of time watching growing up as a child of the Seventies. Working for the Spy Agency CONTROL in Get Smart, Agent 99 was a mysterious female spy who spoke Chinese, German, French and Spanish, was an accomplished dancer, a violin and harp player and a talented singer. “Her character was diverse, challenged, smart, quirky and non-conformist and I totally relate,” Rachael said. While Agent 99 was trying to take control of spy agency KAOS in the fictional world of Get Smart, helping customers take better control of their finances was one of the key motivating factors in the establishment of Rachael’s mortgage broking business nine years ago. She established her business after spending more than ten years in mainstream lending, and as a single parent of three young children at the time, having the flexibility to run her own business, was also critical to the decision to branch out on her own. Rachael believes that helping her clients fulfil their financial dreams is an honour and the thing she enjoys most about being a mortgage broker. “Very often clients are not just wanting a loan or just a service, they are looking for someone to understand their vision, their dreams and their goals,” she said. “Anything is possible, with commitment, the right team all working together, and great advice, and to be a part of the journey when a client comes to realise this, is just so fulfilling.” Her passion for encouraging customers to take control of their finances, especially females, has been borne from her own experiences raising three children as a single mother. “50 per cent of marriages in Australia with children, end in divorce, and when this occurs, 80 per cent of those single parents are women,” she said. “Of those 80 per cent, around 40 per cent will live at or below the poverty line. That means of every 20 marriages, 10 will end in divorce, 8 women will be the primary or sole caretaker of children, and 3-4 will live below the poverty line. “Take notice, you need to know, your friends need to know, all young women need to understand this, it is critically important.” The importance of being financially literate is a message that she constantly impresses on her children, now young adults, and their friends. “Understanding your superannuation, what compound growth is, what capital growth is and that financial independence is a good thing,” she said. “It is my and our absolute responsibility to the next generation.” Translating her passion for supporting women’s success into tangible industry initiatives, Rachael has established a Women in Finance closed Facebook group which she describes as a “place of no judgement” where female brokers can connect, celebrate their successes, and support each other. She is also the latest appointee to the advisory board of the MFAA’s Opportunities for Women Program and believes that one of the biggest differences to enabling greater diversity and inclusion in the industry is highlighting the path trodden by successful female brokers, the barriers that were overcome along the way and the successes they have achieved. “We need to tell more of our stories, and to learn from other women. Role modelling, and leading by example is integral,” she said. “Women can be their own greatest critic, and sometimes the fear of failing, can stop us from getting out of the gates. You don’t need to know it all, you need to be driven, and prepared to grow, learn, and be the best you can be. Sometimes you have to take calculated risks and to back yourself to truly understand what you are capable of.” Her greatest wish for greater diversity in the mortgage and finance industry is to see more role-models telling their stories and the industry creating more pathways to becoming a broker for diverse individuals. “If the pathway to becoming a broker is broken down in a step-by-step format, that is easy to follow, it would help new entrants see the path, and understand that the goal is achievable,” she said. “Sometimes the path is not always clear.” She believes greater diversity is integral to maintaining the industry’s reputation as a trusted adviser by ensuring that brokers continue to really understand the needs of their diverse customers and always have their best interests at heart. “At an industry level, I am so proud to see year in year out the growth and development of our professionals, who continue to reach higher ground with our experience, education, diversity, and investment in development and training, which ultimately makes us better business owners, but also better advisors,” she said. “The combination of better collaboration, processes, experiences and diversity continues to elevate the value of brokers in Australia, and this is absolutely evidenced by the increasing numbers year-on-year of loans in Australia written by mortgage brokers, but we can and must do more. “ Regarding her own secret to success, she says her clients’ success is a testament of her success. “Our clients are front and centre of everything we do, and achieving the very best results for them, and ensuring they feel valued, informed, and empowered by our knowledge, expertise and experience, is the recipe we follow and pays dividends for all involved,” she said. “We have all had people tell us that we can only do so much, and I have always used this as motivation to defy what others believe they, or I might be capable of. Anything is possible, all it takes is hard work, and there really is no limit.” And finally, what is her advice to her younger self? “Set your goals, and know that two steps forward, and one step back, is still forward progress, and that is still ok,” she said. “Go early. Set your boundaries, and honour them and get comfortable with saying no if it is not part of your plan, no matter who it is.” Source: https://www.mfaa.com.au/news/champion-diversity-rachael-bland
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 Do you have FOMO and is that contributing to your financial prosperity, or keeping you up at night?
Comparison website Finder recently reported that household debt hit a record high of more than $2.5 trillion at the end of December — an average of more than $257,000 per household, which represents more than 180% of disposable income which is one of the highest rates in the world according to recent reports. More than half of Australians’ debt was in the form of credit cards followed by personal loans, car loans, buy-now-pay-later services, and payday loans last year, according to Canstar’s Consumer Pulse report. Credit card debt fell to 56 percent last year from 67 percent in 2019 as consumers curbed spending in shops and restaurants during the Covid pandemic. However buy now, pay later debt nearly doubled to 18 percent from 10 percent over the same period given the fast growth in the online-based payment schemes. So the question begs, are you making impulsive decisions that you regret later because you don't actually need to pay now? If so, time to cut up those cards, and speak to us about debt consolidation, to get your payments, rates, and debt down, and power up that debt reduction while interest rates are so low!  Want to save $108,000? We can do that! 🙋♀️💰🏡
Recently, the comparison provider Compare Club conducted a poll that 80 per cent of Australians cut back on spending during the three months to June so they can cover their bills. Of the 73 per cent of consumers found to have received a bill that cost more than expected, 50 per cent avoiding to eat out, and 35 per cent cut down on their saving. The majority of those surveyed were property owners who spent one-third of their income on home loans. Despite the low interest rates now, more than half of the respondents had not considered refinancing! According to Compare Club Home Loans' general manager, Matt Gatt, a homeowner with a mortgage of $450,000 could save around $3,600 annually and more than $108,000 for the entire mortgage if they reduce their interest rate by 0.8 per cent. Investors were most likely to refinance, with multiple properties because of their experience in the market. Out of 10 first home buyers, 9 of them are actively looking to cut costs, with 79 per cent comparing service providers and 59 per cent making a switch. 40 per cent of younger homeowners (aged 25-34), are more than twice as likely to compare and switch than those aged over 54, at 15 per cent. It is the youngest consumers who had experienced the highest rates of bill shock and had searched for ways to cut living costs, with half switching to more affordable providers. In contrast, consumers aged over 54 experienced bill shock, but in response, only 12 per cent switched service providers to refinance. Want to know more on refinancing your home loan? Feel free to reach out so we can provide options for you and you can start saving! With the rapid increase in the number of mortgage lenders offering home loans to consumers, the process is even more complicated than in years past. Fortunately, Get Smart Financial is here to help. We have regular contact with a wide variety of lenders, some of whom you may not even know about. Working with us can save you time! Purchasing a property can be a life-changing experience but the home loan application process can be really daunting if you’re new to the process. We can prepare your application on your behalf and mitigate the risks in your request. See below banks for the current turnaround times.  Note: Recently updated SLAs are highlighted in Red
If you have any questions, book in a time with me below. So, meeting with our awesome clients, Joel and Millie this morning, who have just purchased as first home buyers, the most STUNNING property in Rosebud, imagine, Hampton styled exterior, wooden floor boards, and close to the beach, which we are SO excited about, but at our 7:30am zoom this morning, Humphrey their new pup joined the call too! He was so chilled for the new meet and greet, but literally looks more like a teddy bear than a pup! Had to share, Joel, Mille and Humphrey are going to not only love the new digs, but also the daily walks along the beach from their stunning new home! So excited for you guys!!!! Congratulations! 🏡⛱️🐶🧸  With the rapid increase in the number of mortgage lenders offering home loans to consumers, the process is even more complicated than in years past. Fortunately, Get Smart Financial is here to help. We have regular contact with a wide variety of lenders, some of whom you may not even know about. Working with us can save you time! Purchasing a property can be a life-changing experience but the home loan application process can be really daunting if you’re new to the process. We can prepare your application on your behalf and mitigate the risks in your request. See below banks for the current turnaround times.  Note: Recently updated SLAs are highlighted in Red
If you have any questions, book in a time with me below.  The RBA Board has decided to keep the official cash rate on hold at the record low 0.10%pa this month. Their decision comes as we witness the largest one-month jump in house values in 17 years and a surge in new home loans.
While this indicates the Australian economy is recovering sharply, it has prompted warnings the Reserve Bank may need to soon reassess record-low interest rates. While no one can accurately predict when this will happen, it begs the question: do you have a portion of your mortgage fixed? Fixed vs variable? The main advantage of a variable interest rate is this: when interest rates are low, your monthly repayments are low. That’s a win! But, when interest rates eventually begin to rise, your monthly repayments will increase. That’s food for thought. With a fixed loan, your repayments stay firm. This offers you certainty, which can help you plan your finances in other areas. Where does your loan stand? If you’re not sure you’re getting the best out of your mortgage, give us a call, we can go through your loan and your circumstances. With the rapid increase in the number of mortgage lenders offering home loans to consumers, the process is even more complicated than in years past. Fortunately, Get Smart Financial is here to help. We have regular contact with a wide variety of lenders, some of whom you may not even know about. Working with us can save you time! Purchasing a property can be a life-changing experience but the home loan application process can be really daunting if you’re new to the process. We can prepare your application on your behalf and mitigate the risks in your request. See below banks for the current turnaround times.  Note: Recently updated SLAs are highlighted in Red
If you have any questions, book in a time with me below. With the rapid increase in the number of mortgage lenders offering home loans to consumers, the process is even more complicated than in years past. Fortunately, Get Smart Financial is here to help. We have regular contact with a wide variety of lenders, some of whom you may not even know about. Working with us can save you time! Purchasing a property can be a life-changing experience but the home loan application process can be really daunting if you’re new to the process. We can prepare your application on your behalf and mitigate the risks in your request. See below banks for the current turnaround times.   Note: Recently updated SLAs are highlighted in Red
If you have any questions, book in a time with me below.  Buying a home is one of the biggest financial decisions of your lifetime and with so much at stake, it’s in your best interest to know every little detail about what you’re entering into.
A property valuation is an essential step in the loan application process. When you apply for your loan, the lender will send someone to determine the registered value of the property. This number may differ from the actual price you pay. Because the valuation affects your LVR it’s imperative that if you don’t like the figure you’re given, you find another lender with a more favourable valuer. We can help you find a lender that would suit best and answer any questions you might have about property valuation. Schedule a meeting and let's discuss! |
AuthorRachael Bland – Founder & CEO Archives
July 2021
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