Equity Explained: Is It Really the Shortcut to Getting Rich?

Everyone keeps saying “just use your equity” like it’s some kind of cheat code to getting rich… but what does that actually mean? To break it all down properly, Victoria sits down with Mortgage Broking queen Jaclyn Walsh to breaking down equity properly. We're talking what it is, how much you can really get, why the bank doesn’t see it the way you do, and when using it can genuinely accelerate your wealth. Because yes, equity can be powerful... but it can also lock you into more debt, more risk, and less flexibility if you don’t understand how it works.In this ep: 🏡 The equity myth most people believe🏡 Why the bank can say no (even when your house has skyrocketed)🏡 The 80% rule banks use to decide how much you actually get🏡 When equity can boost your wealth… or cap your future borrowing🏡 Why a value drop can leave you owing money after you sell🏡 What question you should ask before releasing a single dollar of equity IF YOU WANT TO KNOW IF YOU HAVE EQUITY: You can contact the team at Zella hereand find them on Instagram. MORE PROPERTY EPISODES: Check out our How to Buy and Save For Property playlist. FREEBIE: Get our She's on the Money Mortgage rate calculator here.Join our Facebook Group AKA the ultimate support network for money advice and inspiration. Ask questions, share tips, and celebrate your wins with a like-minded crew of 300,000+.And follow us on Instagram for Q&As, bite-sized tips, daily money inspo... and relatable money memes that just get you.Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements. The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.See omnystudio.com/listener for privacy information.