Debt Tip March 2013
Current Fixed Rate from 4.99%
Current Standard Variable from 5.50%
If you’re paying too much chat to us.
*Terms and Conditions Apply
Debit Consolidation Tips
Debt consolidation has the potential to save you hundreds, possibly thousands, of dollars if it’s done correctly. Follow our tips below to maximise your savings:
- There is an extensive choice of loan options or balance transfer deals that can help you save money. Seek the help of an expert Mortgage Broker, to help make it easy to cut through the clutter to secure the best deal that is right for you! If you want to discuss with us that’s great, if not no problem still look into it. You may be paying thousands more than you need to.
- Debt consolidation is most effective if you take a disciplined approach to repaying the new debt. Avoid the temptation to reload your old credit card with new purchases once it has been paid out. Best way to avoid this is to reduce your current credit card limit or simply close the credit card account, to avoid the temptation!
Using a home loan to consolidate debt could turn a short term debt into a long term one. Making extra repayments will boost your interest savings and see you debt-free sooner!
All the best,
Andy Fenton
Financial Specialist – Mornington Financial Planning
Financial Planners – 03 5978 8001
