The right choice of loan can make all the difference in the long term. When buying a home most people will negotiate to get the best price they can. But the real price of your home is the cost of the home plus the interest you pay back to the… Read more
The Second Step to Mortgage Freedom
Step 2 from our book, ‘The 7 Easy Steps to Mortgage Freedom’ is to get the cheapest loan you can. It is to get the right loan in the first place at the lowest cost. Every dollar you spend in extra interest or fees is a dollar that isn’t paying… Read more
Interest adds up!
On a home loan of $450,000 over 30 years at 6%, you will repay a massive $971,734 back to the bank (calculated on the NAB’s own loan calculator). This amount is made up of the original $450,000 “principal’, plus an extra $521,734 in interest. You are paying back more than… Read more
When it comes to home loans, even seemingly tiny savings really add up
In ‘The 7 Easy Steps to Mortgage Freedom’ book, you’ll discover the little known secrets the banks want to keep from you. Secrets like: How a small reduction in your weekly mortgage interest can save you thousands over the life of your loan. The clever advertising tricks the banks use… Read more
Why you should really care about your home loan
If you have a home or investment loan, it’s probably your single biggest monthly expense. That’s why this is perhaps the most important message you’ll ever read, because, odds are, you’re paying way too much. When it comes to home loans, even small improvements can produce major benefits. As a… Read more
The first thing to look at is the home loan you have right now
Another reason many people struggle financially in retirement is that they wait too long to begin investing. Or more often, their only investment outside of paying off their own home is superannuation. Waiting longer, in my opinion, makes the process risky because you need to accumulate properties more quickly and… Read more
Changing properties costs big money
Example: changing properties costs big money On a median Australian home in a capital city, you are looking at paying $23,877 in government fees and taxes and a further $12,760 to a real- estate agent to sell your current home – a total of $36,637. The problem comes when people… Read more
People’s attitudes toward money will cost them
The reality is that, in the future, 3 out of 4 people will end up with the pension as their main source of income. A big reason for this is people’s attitudes toward money. When I drive past my local petrol station and see cars lined up in long queues,… Read more