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Save, Prosper and Increase

By Kevin Kelly

Is paying off your home loan or investment loan quickly a high priority for you? It seems there are new loans and investment strategies birthed daily. Although this may be an exaggeration, it does make sense to be educated in this regard. By restructuring how you use your current bank account/s, credit card/s and home loan/s, you could possibly save yourself thousands of dollars, while reducing the term of your loan at the same time.  Choosing to pay your mortgage payments weekly or fortnightly as opposed to monthly could have a dramatic impact on your loan. When was the last time you spoke with your bank manager, accountant or financial advisor? Staying in touch with them regularly to discuss your options could help save you time and money off your loan. You may be surprised to learn that you may have equity in your current home and/or investment property that can be used as leverage to purchase another investment property and increase your property portfolio. If this is the case, you may not be required to pay any out-of-pocket costs to purchase another should the equity amount be sufficient. When was the last time you had an appraisal on your property? You may be excited to learn that the value has increased and in some cases quite dramatically. Be sure to get advice from your accountant or financial adviser before moving forward, to ensure this move is the right one for you.

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