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Stress Free Banking

by Acceptance Finance

Tuesday, July 12th 2011, 16:40 GMT+10:00
Australia

Are you overwhelmed with trying to manage your mortgage, can’t seem to be able to reduce the loan as quickly as you like and are constantly chasing your tail with your monthly expenses? When you try and seek guidance you are given complex over frilled type solutions. These questions are ones that we get all the time. We thought we would put together a very straight forward example as to what a lot of our clients end up doing.....

Consider the above accounts structure to reduce the risk of inadvertently spending money committed to your fixed monthly expenses i.e. with money already set aside for direct debits in “bank account 2” you are able to then safely use “bank account 1” for everyday spending.  This may also reduce the need to continually monitor your bank account balances.  Perhaps go one step further and link both those accounts to your home loan account and maybe even use an offset account.  All these measures used correctly can significantly reduce the length of time it will take to pay off your home loan and ultimately save thousands in interest costs!

All of this is food for thought as everyone’s circumstances are different a more detailed discussion may be required with us. Feel free to call us at anytime in you have any queries in relation to the management of your financial accounts.

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