How Does Making Sense Again, Make More Money?

Times are changing more rapidly than you think. In fact ‘change’ is changing more rapidly than most realise … and it is called the acceleration of change. We have left a time when much of our enterprises focused on making sense, and entered a period where it is more important to make more money.

So what is changing, and how does making sense again make more money too?

The way most people see change is in new electronic products such as flat screen TV’s and iPads and in medical procedures but the same change is occurring at an accelerating rate throughout many industries, throughout most countries and now throughout their economies.

The best part is … it has many benefits for the vast majority of us as we shift towards making sense.

Sure, there has also been lots of chaos, and sadly sometimes the loss of innocent lives but the future that is rapidly heading our way has many benefits.

Take Iceland as an example. A very small democratic country of some 330,000 people who, a handful of years ago were faced with financial ruin and bankruptcy. Much of the economic wows of a number of European countries has been splashed around the media for years now, but few of us understand what actually happened?

Continue reading

Beware of ANZ and High Interest Rate Loans!

Beware of ANZ and High Interest Rate Loans!

It is not that long ago that were encouraged to SAVE … save for what we wanted.

That all changed and ANZ bank as one of the big 4 banks is a leader in encouraging debt. But so do CBC, AMEX, NAB, Virgin Credit, Westpac and many others. To understand the banking industry is something few busy people ever do. Even on the ANZ Home loans website they say “Comparing banking products can be confusing and time consuming.”

But isn’t this just great how the ANZ Homeloans page is simply covered in “zeros”, like:

  • “$0 monthly account service fee …”  and
  • “$0 annual credit card account fee …”

Wouldn’t be any ‘trickery’ there would there? Surely not, not the ANZ bank now.

Zero’s are easy to understand … well, they used to be.

So even though we don’t understand banking products well … they ‘consume’ our lives.

Home loans, car loans, personal loans, credit cards and on and on … each with different interest rates, different terms and conditions and policies. Come on, be honest here.

Who actually reads all of the fine print? Does anyone?

You would assume the ANZ and other banks do, or is it only their solicitors who understand them? 

One of the JP Morgan family said that if you want to make money and become rich you must make things complex and complicated.

Banks like ANZ have made an art form out of confusion and evidently they are all in bed with each other, as we saw at the height of the recent GFC (no that’s not the Geelong Football Club … it stands for Global Financial Crisis).  Do you remember that only one bank was sacrificed … and it came as a shock to the others. They thought they were all safe … safety in numbers I suppose.

About five years ago I had taken out an ANZ loan … it was very easy to apply for, no hoops to go through, or ladders to climb. At the time I was heavily involved in creating a new movement called Your Healthy, all about us working together for the benefit of everyone.

Is that the same philosophy of the banks … like ANZ?  Don’t think so!

Banks play “win as much as we can … and screw you.”

Continue reading

Beware of Victorian Teachers Credit Union FEES

Beware of Victorian Teachers Credit Union FEES … my wife just lost $90 in 2 weeks.

It all started when she started a new small business, something that we as a community should be supporting, someone with an entrepreneurial spirit. But coming froma teaching background she was also used to regularity of her income.

And it wasn’t just the extra cost and lack of immediate cash flow … but her daughter was having a baby, our first grandchild and she was part of the birthing team at the home birth.  So with two trips to Melbourne and all the excitement I can understand how she forgot to transfer some money to cover automatic payments like Medibank, and the car insurance.

Now picture a bank that cares for their customers.

Have you got that picture?

Well I have a picture from around 1985 one morning, rushing around shopping and banking and when I returned home the telephone went (mobiles weren’t that popular back then) and the voice said “Hi, it’s ‘Jane’ here at the building society and I think you left your leg of lamb here at the bank. Have you lost a leg …?”

WOW … even back then I was impressed with that quality of service.

The staff at the bank actually knew me, and it was ‘real’ service.

So the irony of the Victorian Teachers Credit Union banking system is that occasionally, when you make a payment on-line you get a phone call from a customer service staff member to check if you just made the payment.

Now I used to be a professional risk engineer and I do not believe that the risk of internet banking fraud is really very high, but it’s nice of them to call, yes?

So what’s the point in  sending my wife a letter after her account has been debited with all the fees? It’s a bit of a waste of time in my opinion … except they did say you can change from automatic payment to say BPay which would prevent the overdrawn fee. That’s a possibility.

And the cost of sending the letter, which is signed personally must be at least $1.

Wouldn’t it serve your customer better to call them … just like when they make an on-line payment? Surely they don’t do it for the revenue from fees and charges? No, not a credit union, that’s something only the BIG banks do isn’t it?

Ninety dollars in fees in two weeks … last time that happened was with one of the BIG banks whom we had just opened an account with because they were ‘next door’.  We soon moved our accounts.

I would install a system that sends out an automatic text message or email giving the customer say 24 hours to rectify the account, in fact I think the Victorian Teachers Credit Union used to do something like that.

Is service really that hard to provide?

I mean … I can walk into any bank almost anytime of the day and find staff members who could be more actively employed.

Have we simply allowed service to just disappear.

It appears to be the case at the Victorian Teachers Credit Union.