I have started working at the age of 12 or 13. No child labor, I was a baby sitter, then a tutor to smaller kids, and since I also played the piano well enough, my music teacher would lend me the music room at lunch time to teach a one hour lesson. I remember I… Read more
Viewing posts tagged with: interest
Who are those most likely to be affected by high debt levels?
Debt is something that millions of us are likely to get into. It could be from taking out a student loan, a credit card, being overdrawn on our current accounts, by taking out a mortgage or by an ordinary personal loan. For some of us, paying off debts in instalments is simple enough, but… Read more
How can a mortgage offset account reduce my home loan
A mortgage offset account is a great way of using your savings to reduce the amount of interest you will pay on your home loan. If you are unfamiliar with an off-set account, it is essentially a transaction account that is linked to your home loan, where the credit balance of… Read more
Online banking, how to choose the right bank account?
There are so many types of online bank accounts it can get overwhelming. Savings, investment, or current accounts, nowadays you can open most of them easily and manage them from the comfort of your home. I think that last part is what I like best about online banking, not having to go to the bank. I… Read more
Ways to pay off your mortgage faster
The biggest expense for many people throughout the world is a home mortgage. Payments for housing can regularly cost between $500 and $1,000 per month. Those who take out bigger loans will have even more to pay on a monthly basis. Mortgage rates today are lower than they have been for many decades…. Read more
How to refinance your mortgage?
I bought a three bed flat in 2009, with 25% down, and a mortgage at 2.94%. That rate was already amazing and I could have slept soundly in my new home without ever thinking about getting a cheaper mortgage. Until I found a little button on my online banking that was saying ”check out… Read more
Step 26: Let compound interest work for you
This post is part of a 30 days series called the 30 steps program to financial independence. You can check the list of other posts here. Have you ever hit the enter button when using the calculator on your computer, so that the multiplication gets executed over and over, reaching huge numbers? Well, that is compound… Read more