Interest rates have and are rising, and the pressure it is putting on household budgets is telling. But there are things you can do to lower the interest you’re paying and ease some of the financial burden …
GO FOR FORTNIGHTLY PAYMENTS
If you are paying monthly instalments, consider switching to fortnightly. It will mean you are making an extra month in repayments per year – there are 26 fortnights in a year. The more you pay off, the more you will save over the life of your loan.
TRY TO MAKE EXTRA PAYMENTS
This story is from the April 17, 2023 edition of New Idea.
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This story is from the April 17, 2023 edition of New Idea.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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