An offset account is generally a transaction account whose balance reduces the loan balance. For example, if a home loan balance is currently at a balance of $300,000 and you have an offset bank account which contains a balance of $20,000 then the bank when calculating the interest charge will do so based on a… Continue reading Does An Offset Account Reduce Monthly Repayments?
If you’ve been around the personal finance world long enough you would have inevitably bumped into an American named Dave Ramsey. He currently hosts Dave Ramsey Show on YouTube and he teaches people how to become wealthy by saving, getting out of debt and investing. He’s been doing this for over 25 years and has… Continue reading Do The Dave Ramsey Baby Steps Actually Work For Australians?
During the Christmas and New Year holiday period I looked around to see how my current mortgage compared with other products around the place. I find I do this necessary chore about every other year. In fact, come to think of it throughout our near 9 years here in our humble home we’ve refinanced 3… Continue reading 3 Home Loan Refinance Traps To Watch