Premium Finance Stories

My name is Lynette & I am a relationship Manager with Premium Finance.  I had some absolutely delightful clients in the other day but the way they ran their family finances did bring back a lot of nostalgia for me from when my mother was alive.  Mum was a single mum in the days when it was very much frowned upon and there was very little government support.  So Mum, being the frugal lady she had to be, had all these little glass jars that was the basis of her accounting system.  One glass jar held the milkman’s money, one for the rent, another for electricity, yet another for groceries, and I am sure you get where I am going with this.   So when these clients came in the other day they were doing things pretty much like Mum did, but instead of glass jars they had all these different bank accounts.  One account was for bills, another Xmas club, another for holidays etc.  Then they had “The Mortgage” with a payment coming from yet another savings account where their wages were paid into. Surely things should have changed in 50 years !!  I was exhausted just thinking about how they really kept control of their finances and knew where their money went.  When I explained how rolling all these different accounts into one and making just the one payment each month, they would be able to keep track of every dollar of their income, own their home much sooner then they thought, and my personal favourite “ pay the bank less money by reducing the interest paid”. 

The clients are still wondering why they wasted so much time in getting the right financial advise.