Unless you can seriously find a better interest rate that would save you say $50 a month then why not have the ability to offset if necessary?

The issue here isn’t what it does in the first month (which is the basic calculations you have been shown), but what several months of savings would do.

In the above example lets say that of the $7600…[Read more]

By the numbers you should not continue to pay the exceedingly high interest rate on the home loan and the even higher numbers on the credit card debt.

The larger banks seem to be hovering about the 7.07%, even then the gain of switching to that rate would more than offset the fees and charges accumulated from changing loans (this is a Offset loan…[Read more]

Its pretty much what I have expected, I just wasn’t certain and I wanted assistance before going to a solicitor to change the details.

That leaves me with a few options:

a) utilise the current loan but have my partner transfer her funds from a savings account from the same bank (inefficient and clumsy but low on costs)

b) go ahead and change…[Read more]

I think your argument would be more in the eye of the beholder.

Currently my repayments on my loan are about $930 per month, rent for the same sized property and location would be about $240 per week. So of course if I had been renting the property instead of paying it off then I would be more than paying the minimum amount off for the owner…[Read more]

On a work front it is usually best to work out the direction you wish to go before you select your electives for years 11 and 12.

Many suggest studying finance at uni, but your background in study suggests science or engineering. You could possibly look at an apprenticeship possibly in the engineering field, after the initial period of study you…[Read more]

$80,000 is an excellent start. Basically most lenders will charge you with Mortgage Insurance if you have less than 20% of the value of the property (this can be as little as 5% but it is not the norm) in cash or a form of deposit on the property.

You will need to realise (which I believe you do) that rent is not as high as what it would normally…[Read more]