The faster that you pay your mortgage off, the sooner you'll have excess money to save into your own bank account or to spend on the things you love.
HOW TO PAY OFF YOUR MORTGAGE FASTER
Paying off a mortgage usually takes people 25-30 years to do, however there are some things you can do to reduce this amount of time. Below are some tips below on what you can do to pay off your mortgage quicker.
find the right home loan
Find the right loan for your circumstances. Whether you need a loan with a low interest rate, an offset account or a bridging loan, a mortgage broker can help you find the right loan for your needs. They can look into the best options for your needs and save you the hassle of doing this yourself. And you don't even need to pay them!
Don't be afraid to re-finance your loan if you find one with a lower interest rate. Sometimes you could start off with a bridging loan with a high interest rate and after you've sold your property and are living in the new one, you could re-finance your loan to another loan with a much lower interest rate.
PAY OFF THE PRINCIPAL AND INTEREST
The quickest way to pay your mortgage off sooner is to make sure that your loan is set up to pay both the principal and the interest. If you are just paying the interest on a loan, you will never pay off the whole debt. Paying interest only may be your only option in your current circumstance, however I would suggest not doing this for more than a year.
PAY OFF MORE THAN THE MINIMUM REPAYMENTS
If you want to reduce your mortgage bit by bit, but still managing to save years off your loan, always pay off more than the minimum amount. If your loan repayments are $450 per week, try paying $500 a week off to shave of years of your loan.
MAKE MORE FREQUENT PAYMENTS
Pay your loan off weekly instead of fortnightly or monthly. Your interest is calculated daily, so if you pay your mortgage weekly, the amount of interest that you pay will be significantly reduced than if you were to pay monthly.
EXTRA LUMP SUM REPAYMENTS
If you have a windfall, a tax return or redundancy package, make sure you put the lump sum onto your mortgage. Interest is calculated daily so the less you owe, the less you'll pay in the long run.
I hope this has helped you to come up with some ideas on how to repay your mortgage quicker. If you would like to talk to a mortgage broker, contact me on 0414 520 853 and I can put you in touch with someone who can help you to reduce your loan.
We all have someone in our family who is really difficult to buy for. So I've made it my mission to create this list of 15 Christmas gift ideas that won't break the bank for the difficult uncle, brother, grandfather, mother-in-law, cousin or secret Santa in your life.
1. the creative/arty type
Head down to Ikea to check out their range of prints. This silver dear print will set you back $25 and the monochromatic colour would look great on any wall.
2. The gardening enthusiast
These cute pots from Bunnings would make the perfect gift for someone with a green thumb. Chuck in a palm or a fiddle leaf fig and you have a classy indoor plant for no more than $25.
3. the coffee lover
Kmart have some pretty funky kettles on sale at the moment. The Euro kettle, the pyramid kettle and the glass kettle are all under $40 each.
4. the homebody
Do you know someone who's very house proud and their home always looks clean, tidy and stylish every time you go there? Kmart have macrame wall hangings for sale for just $15 and would suit these people perfectly. Or how about a new quilt cover or cushion cover for their bedroom?
5. the health nut
If you know someone who is always on a diet or looking for ways to stay healthy, this $15 drink bottle blender from Kmart might just do the trick. It would be a great way to make a protein shake, smoothie or frappe for lunch on the go.
6. the bookworm
Who doesn't love curling up in bed with a good book over the Christmas holidays? Target always have a good selection of fiction novels, no matter what genre you like. You can even pick up a great read for under $10!
7. the gamer
Remember the old school hand held games we used to play when we were kids? Super Mario, Donkey Kong, Mortal Kombat etc? If you do a quick search on eBay you can find these and many more for around $20!
8. gifts for kids
Looking for something that will get your kids out of the house and keep them entertained for hours? The quadcopter (only $29 from Kmart) does just that. You can take the kids down to the park and learn how to fly this beauty!
9. water babies
For those that like the water, Rebel Sports have a great range of inflatables, boogie boards, snorkels, and pool toys currently on sale.
10. gym buddies
These resistance bands from Target are the perfect gift for gym goers. You put them around your legs and squat/lunge away and feel the burn! $12.50 for the perfect butt - I think so! Or how about a fitbit from Big W - for $89 your loved one can track how well they're doing with their fitness goals.
11. sports fans
Big W has a great range of sporting goods for those to like life on the go. From tennis rackets ($20), to Maxfli golf balls ($7), to Basketball boards ($35) and much, much more.
12. outdoor enthusiasts
Have a friend that loves camping? Anaconda has some fantastic products for the outdoors. Choose from a new sleeping bag ($35), day pack ($15) or hydration pack ($30).
13. fishing buddy
Anaconda also have fishing tackle for all the Rex Hunt's of the world. Who wouldn't want to catch dinner for the family with gifts like these? Fishing reels - $15-40, lures - under $5 each, tackle box - under $20. Bargain!
14. music lovers
JB Hi Fi is your one stop shop for music lovers. They have headphones starting from $20, speakers, assorted CD's, DVD's - you name it.
15. everyone else
For everyone else who's not listed in one of the categories above, there's always a massive bar of Toblerone! Who doesn't like chocolate? (And Myer is doing personalised ones for Christmas too! See below.)
I hope this list has helped you to choose a Christmas gift for your loved ones! Happy shopping everyone!
When it comes time to purchase your first home, the first things that the banks are going to ask you are: “Are you currently working?” and “Do you have a deposit?” If you say no to either of these two questions, you are going to have a hard time getting a home loan. So, I’ve come up with some great ways to help you save for your deposit.
I hope this list has helped you to come up with some ideas of your own to reduce costs, and that you can commit to reducing your spending to enable you to save up for your home deposit. If you need any help finding the perfect home, please don’t hesitate to contact me to see what we have available. I can even put you onto a finance broker who will be able to give you even more tips on saving your money.
If you would like to download some of my free real estate guides to help you along your real estate journey, hit the image below.
The Tarragindi Free Library is now open! Located at Lang & Co Espresso (out the front of the gym) at 195 Fingal St, Tarragindi.
I wanted to give back to the local community in which I work, so I decided to set up a free library for local residents of Tarragindi and surrounding areas. I wanted to share my love of reading with others and what better way than to share all the books I’ve collected over the years?
The Tarragindi Free Libray is a free service where you can borrow and exchange books with other locals in the area. It’s a place where people can come together, to sit and drink coffee and read a book in the sun. I’m hoping that it will connect people in the community and get people talking about things they have in common. It’s a place to make new friends and enjoy life in the suburbs.
The Tarragindi Free Library is located in the seating area at Lang & Co Espresso, at 195 Fingal Street, Tarragindi. The coffee shop is situated in front of the gym and there is car parking available.
Lachie (the owner of the coffee shop) graciously invited me to host the library at his cafe, and has been providing me with the best chai lattes ever since! I encourage you to purchase a coffee, tea, hot chocolate or chai latte from the cafe (if it's open when you visit) to help support his small local business and keep the cafe up and running so we will always have somewhere nice to sit and read all the books. You can find Lachie's friendly face (and awesome brewing skills) Mondays to Saturdays from 6.30am - 11am.
How the library works: See a book you like, take it home to read, and either bring it, or another book, back next time you're in the area. The library will be relying on people to return books after they've taken them home to read, to continue on for years to come. There's no time limits on how long you can keep books for, and if you really like a book and wish to keep it, you can bring back another book that you think people will enjoy.
I will be constantly stocking the library with new books each week if it runs low and I will be posting which books are currently available each week on the Facebook page, so if you see something that interests you, come down to the cafe (and buy a coffee if the cafe is open) and pick up the book if it's still there.
If we get masses of donations to the library and I get overrun with books, then I will be passing the books onto the Salisbury Bookshop which is run by volunteers who are also giving back to the community. This is where I will probably be buying most of the books for the library as well, so if you would like to purchase any books in particular, please head down to 1/17 Chrome St, Salisbury and say hello to Liz, Frank, Nick, Wes & Craig. They're some of the friendliest people I've met! They also accept donations, so if the Tarragindi Free Library is currently full and you have some books to give, please pass the books onto the Salisbury Bookshop, where they will be gratefully accepted.
I hope you enjoy using the Tarragindi Free Library and I look forward to hearing all about your thoughts on the library.
If you would like to make any requests for books or tell me who your favourite authors are, you can send me a message through the Tarragindi Free Library Facebook page. Alternatively, you can flick me an email at firstname.lastname@example.org or if you'd like to hear my friendly voice, give me a call on 0414 520 853. (I don't mind talking about the real estate industry too if you have any questions!) I hope to connect with you soon!