How to Pay Off Your Mortgage Faster

When was the last time you looked closely at your loan, the progress you are making on paying it off and how it compares to others in the market? Analysing your mortgage could mean savings for you, as well as the opportunity to pay it off more quickly, invest in other assets or reach financial freedom sooner. Make smaller payments, more often to cut the size of your payments, make more of them. This could even see you pay off your loan faster, and therefore pay less interest overall. If you pay your mortgage monthly, consider changing to fortnightly repayments. For example, if your mortgage equates to $2400 a month, cut this in half and pay $1200 each fortnight. As well as having more manage

1 Minute Financial Health Check

Are you struggling to meet your “home loan” and other financial commitments? Would you like more money left over after making your loan commitments? If you answered YES to the above two questions take a minute to see if you would benefit by consolidating your loan commitments into one. Complete the below table with all your current loan commitments. Include home loans, personal/car loans and credit cards. Lender Amount Outstanding Loan Amount Repayments(monthly) $200,000 $1,300 $325,000 $2,110 $225,000 $1,460 $350,000 $2,270 $250,000 $1,625 $375,000 $2,435 $275,000

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