debt elimination strategies
TRANSCRIPT
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Wize Up to Your Best Financial Decision!www.loanwize.com.au
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How Much do You really know about Jon?
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Disclaimer• The following information is of a general nature and does not take
into account your individual circumstances.
• We recommend obtaining independent financial advice for anyone considering investment.
• I am happy to meet you for a discussion on reducing your home loan sooner, and reviewing your existing loan to see if we can save you further.
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Debt Elimination Strategies
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20 year vs 30 Year loan20 year loanInterest rate 6.4%Loan Amount $350,000Repayments $596 pwTotal repayments $620,718Total Interest $270,718
30 year loanInterest rate 6.0%Loan Amount $350,000Repayments $483 pwTotal repayments $754,916Total Interest $404,916
Savings of $134,198 / Cost $113
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How hard is it?
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Easier than you think!
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Details
• $350,000 over 30 years / repayments of $483 pw• Total interest would be $404,906• Additional $300 per week / reduce interest by $262,788 • Save almost 18 years off the loan.
Worth doing for that benefit alone!
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What then?
What if you continued to save your repayment for the rest of the term?
• Continue paying $783 pw (or more)• Remaining 18 years • At say 5% interest rate
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Results are staggering!
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You turn the interest saving of $262,788 into
$1,174,392If you saw Mike, you could probably make it more!
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Here is another look with a different loan amount
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Seek Professional Advice!
• You don't talk to a plumber about your curtains do you?
• Seek quality advice from specialists, not friends and family!
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Sounds Easy?
Where do I come up with an additional $300 pw?Check out the Fact Sheet on your desk.
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Wize Up to your Best Financial Decision!