(domain.com.au)Interest rate rises can throw your finances into chaos. But only if you let them.
For each $100,000 you have borrowed you are looking at about an additional $16 a month. So on a $250,000 loan it is about $40 extra and on a $500,000 loan it’s $80 (assuming a 25-year term).
How much pain would this cause you? Might it simply mean one less bottle of wine a week – hardly appealing, but eminently achievable? Or might it condemn you to nothing but noodles with the occasional vitamin tablet for a nutrient burst (a diet incidentally that a friend swore by at university)?
Well, what if I were to tell you that it is probably possible to actually cut your minimum monthly repayments? Here are three strategies to implement before it’s too late. More….