5 WAYS TO GET AHEAD using record-low interest rates

THE SECRETS TO SAVING YOURSELF A SMALL FORTUNE

- Andrea Black.

Record-low interest rates are creating never-before-seen opportunities to pay down our debts and get ahead financially.

“There are literally thousands – even hundreds of thousands – of dollars in savings to be had,” explains financial expert, Helen Baker. “Use this opportunity to your advantage now, your future self will be forever grateful!”

ENSURE YOUR RATES REALLY ARE LOW

Yes, the Reserve Bank’s official interest rate is at a record low. But check to see that the rate you’re paying is also the lowest rate available. If you haven’t reviewed your rate for some time, chances are you’re paying too much. Ask for a rate review. Compare their offer against what you could get refinancing with another lender. When it comes to a new loan or switching lenders, double-check you are getting what you’re paying for. Read the fine print, and ask what other discounts and incentives are available. I used to say that if it didn’t start with a 2, you are paying ‘2’ much. Now, there are some mortgage rates available below 2 per cent!

PAY DOWN DEBT FASTER