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Savings

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A mortgage offset account is a bank account that is linked to your home loan. By linking a savings or transaction account to your loan, you can save money in interest. Every day, the balance in your nominated account is “offset” against your loan balance. This means the lender pretends those extra savings have been paid towards your loan. The overall result is that your lender charges you less in …

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Saving for a deposit can be a difficult and daunting task, whether you’re a first home buyer or an investor. Fortunately, having an organised and creative approach to saving can make it simple. Emotions play a big role in saving money and if you’re not happy you’ll be more tempted to spend. Rather than denying yourself every luxury, you’re better off developing a balanced and sensible savings approach. With that …

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