4 Comments

  1. mike lockhart
    June 11, 2020 @ 10:58 am

    Good article, and I must ad give up indulgent habits, SMOKING, DRINKING TOO MUCH, WASTING MONEY ON THINGS THAT WILL COST MORE MONEY IN THE FUTURE, TRAIN YOUR KIDS TO EXCEPT “REALITY” !

    Reply

  2. Lisa Roberts
    June 11, 2020 @ 11:51 am

    Suggestion #9- Review/ Restructure Your Home Loan
    Review your current home loan every 3-5 years depending on your loan contract. Reviewing and refinancing is essential on a regular basis, not to borrow more money but to get a better deal on your loan. Banks are just as greedy as some (not all) real estate agents.
    Don’t be loyal or lazy to your current bank or loan arrangements. Shop around to get a lower interest rate, switch your repayments to fortnightly if you can and always get an offset account. You will pay less interest in the long run without paying a cent more. Get a good financial planner or broker to help you.
    For your own home, always get a principle & interest loan, not interest only. Add an extra $50-100 to your regular repayments when you can. All these things will help you pay off the home loan sooner as you will pay less interest in the long term. In the short term, a simple refinance to get a better interest rate can help improve your disposable income now, especially as interest rates are so low.
    I’m hanging out for July so I can do this when my 5 year fixed term loan finishes.
    Good luck everyone!!

    Reply

  3. David
    June 11, 2020 @ 12:01 pm

    More great common sense. I hope plenty of the concerned among us read your stuff and learn. Thank you Neil.

    Reply

  4. Toni
    June 20, 2020 @ 5:41 am

    Thank you for writing this article – full of simple suggestions for anyone experiencing concerns around trying to keep their home.

    Reply

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