No barefoot investor shit

so with the RS that's that's still essentially the offset from your loan it's effectively exactly the same thing but the problem is Banks don't actually often they don't link their offset account so I've done this exercise say with half dozen clients over the last over the last quarter and it's amazing even though they have say you know 20 to $50,000 in their offset account I say no let's start putting all your money into the redraw account let's continue to hammer that down once they do that their payments magically go down by like $552,000 saying the banks aren't offset yeah they're just not that efficient at linking there's been major lawsuits the last couple years that's the first reason the second reason is that the offset account you have access to so you have debit card access to so you just spend it right yeah actually go into banking to R account doesn't it affect the loan if you redraw on it doesn't it have so there's some banks that it's a good it's a good point so some banks that would talk you out of it they say you'll say to your bank look I want to set up a redraw account I want to come with plan to pay with my loan faster the bank will say well you know what the redraw accounts a bit clumsy why you just use an offset account is the same thing um and then most people would say just do that but yeah you're right so some banks are better than others so all your money goes into a rra account then say you work out between all your liability commitments your spending your habits whatever it might be that it's $10,000 a month you take that 10 $10,000 from the rraw account and transfer it to that external account and that's where all your spending comes from then you know if you can hold yourself accountable to that system like no Barefoot where you have an account for every sort of day of the week or yeah so just two accounts hold yourself accountable to that and you know that if you do that then you'll pay off your loan within 10 years same principle applies for S say put all your income