FRIDAY FUN: Would you take financial advice from a supermodel’s father?

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Miranda Kerr’s riches may have more to do with her natural talents than her father’s financial wisdom, but that hasn’t stopped him offering his wealth management lessons to the nation.

John Kerr has revealed that "spare change" helps pay off his mortgage early, forgetting to mention his millionaire daughter.

He told The Sydney Morning Herald all his loose gold and silver coins were a goldmine for mortgage payments.

“I have a container in my car that holds a couple of hundred dollars in coins and every time that's full I put it into a big money box, then every year I'd take that to the bank and cash the coins in and it would come to about $4,000 and I'd put that straight into the house,” he said.

“And I never forget the saying, I think my dad told me, that a little bit will always add up to a lot. I just look at things and look to try and pay as much off my home loan as I can.

“I always hated owing money to the bank.”

No need for small change: Miranda Kerr poses in her role as Qantas ambassador. Photo: Qantas.

  • Ken on 14/09/2012 5:52:31 PM

    a very good point Debbie, my other issue was why not pay the money on a more regular basis like at least monthly, that would be 333 a month, no extra costs but we all know this would further improve the outcome. Having it stting in a box is not as effect as having it reduce your account balance earlier.

  • Debbie on 14/09/2012 10:05:03 AM

    I always tell my children never to leave anything of value in the car. Cars are too easy to break into. Now that Mr Kerr has broadcasted this information to the nation, I wonder how many times his car will be broken into. Insurance excesses are not cheap and this will soon add up too. Not very smart!

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