Should you consolidate your loans into your home loan? What’s an offset account? What difference will extra repayments make? Some strategic decisions on your debt can save years off your loans and thousands of dollars.
The price of debt is usually a lot more than the purchase price of the product. In the case of a house to live in, it is usually in the hundreds of thousands of dollars more.
Effectively managing your debt can save years of your loans, and save you thousands of dollars.
There are any number of strategies to assist with your debt including using an offset account, making additional lump sum payments, consolidating debts, increasing your regular payments and debt recycling. All of these can work in certain circumstances, but what will work best for you depends on your particular goals and circumstances.
If you have debt you’d like to clear, why not give us a call to see how we may be able to help.