Blog Details

How To Get Debt-free Faster
October 14, 2022 jun Strategy Session

A mortgage is the biggest debt most people will ever have. The faster you can pay it off, the more you’ll save in interest and the more money you’ll free up for other things in life.


Here are three ways to pay your debt down faster:


Round up your mortgage: Every spare dollar you have that not’s being used or invested elsewhere should theoretically be put towards paying down your mortgage. Consider rounding up your payments to help fast track the process. Instead of paying $1910 per month, make it $2000.


Set your repayments to fortnightly: There are 12 months in a year, but there are actually 26 fortnights — not 24. By paying fortnightly, you’re effectively making an extra 2 repayments each year and paying your mortgage off faster.


Offset account: By putting spare funds in your offset account, you are reducing your interest while still having access to the funds in case you need them. To supercharge your savings, pay your bills with a credit card and park your money in your offset account until the end of each month.



Related Posts
When to use invoice financing

Invoice financing is a great way to help smooth out your business's cash flow.  .

Read More
Shoppers return to brick and mortar stores

After a COVID-led surge in online sales shoppers are now headed back to bricks and.

Read More
Commercial investors flock to Queensland

Commercial investors have been focussing on Queensland on the back of its strong population growth.

Read More