Finance & Fury Podcast

Welcome to Finance and Fury – Today we'll be looking at some of the pitfalls of the recent financial measures to combat the economic fallout that is going on Two major ones when it comes to the personal side of this- Money out of super – Easing the rules of requirements to the access of superannuation funds under the ‘financial hardship requirements’ Mortgage payments – The repayment ‘holidays’ on mortgages   Before we get to it – with either of these options - If you are in extreme financial hardship and need to do this – do it – but if not and just want to take money out of super or go on holiday for a mortgage – don’t - work off a strategy of survive now but pay later   Mortgages - Banks‌ ‌also‌ ‌come‌ ‌to‌ ‌the‌ ‌party‌ ‌to‌ ‌provide‌ ‌repayment‌ ‌‘holidays’‌ ‌to‌ ‌ease‌ ‌short-term‌ ‌cash‌ ‌flow‌ burden‌ ‌to keep‌ home loan repayments if people have been impacted by the government measures Under these new rules - borrowers‌ ‌can‌ ‌defer‌ ‌their‌ ‌loan‌ ‌repayments‌ ‌for‌ ‌up‌ ‌to‌ ‌6‌ ‌months – Natio