Boss Mortgage Hack

Here is a really simple, but highly affective hack on paying off your home loan faster.

"Round up" your repayment

 If you're like most people, a set amount is whisked out of your account each month for the mortgage. Say you're the average Aussie with an average $500,000 home loan on an average 3 per cent interest rate (of course you should be paying less). Your required monthly repayments are $2108 but without too much discomfort to your brain or budget, you could round that up to $2200 … and save more than $37,000 and get out of debt nearly 3 years early.

Just be sure to re-set your direct debit so there's never any active deliberation.

By the way, never adjust your mortgage repayments down. You've already got your head – and your hip pocket – around that level of repayment. If the minimum falls, you're making a "bonus" overpayment that will save you significant money and time.

Any questions?

Feel free to contact us on 0476111000, [email protected], www.bossmoney.com.au or direct message.