Local ladies lead
ITrish Brown is bucking the trend of which gender is more financially proactive in the housing market. T seems Cairns women may just be more financially savvy when it comes to rejigging their personal finances to save for or to pay off a home loan compared to their female friends in major cities.
A survey conducted by Mortgage Choice said 51 per cent of Australia’s female mortgage holders had no plans to make changes to their financial situation in 2011.
In comparison, more than three in every five, 61 per cent, male mortgage holders plan to make changes.
However, Mortgage Choice Cairns franchise manager Lindon Reed said it was the opposite in Cairns and women were bucking the trend.
“To be honest, the trend in Cairns is the reverse to the national survey,” Mr Reed said.
“We are finding more and more women are asking the question and seeking alternatives to their existing loan positions.
“This is probably due to them having a more hands-on approach to the family budget.
“Single women also seem to be more proactive when it comes to seeking better deals and opportunities and are not daunted by the fact they need to haggle for property purchases.”
Cairns single mum of two Trish Brown is one of the women making a move in the housing market after selling her first home and recently she signed a contract for her second home.
“This is in my five-year plan – to buy in the low and sell in the high so hopefully I will gain money on it,” she said.
“I have always come from a financial background so seeing the trouble people get into, I have been able to learn from that.
“You have to budget and live within your means and it doesn’t have to be forever.
“If it means not going out to dinner for six months or buying any new clothes for six months then you can achieve your goal and save money.”
Mortgage Choice spokesperson Kristy Sheppard said everyone with a large debt commitment should review, at the very least, that commitment and their budget every year.
“Regularly reviewing and/ or making adjustments to suit the ever-changing economic landscape and financial product markets are essential to maintaining a healthy household budget,” she said.
“It will also build your confidence in your ability to manage debt commitments.
“Passive borrowers, both male and female, who don’t give their finances a health check at least once a year may be missing out on everyday and home loan savings.
“ This means less cash flow for repaying debt quicker, capitalising on other investment opportunities and treating yourself.”
This increased interest from both genders was reflected in Mortgage Choice’s website statistics.
When comparing January 2011 to January 2010, www. MortgageChoice.com.au has seen a 14 per cent increase in unique visitors to its ‘ Tips and Checklists’ section.