Debt Elimination Strategies

15
Up to Your Best Financial Decisio www.loanwize.com.au

Transcript of Debt Elimination Strategies

Page 1: Debt Elimination Strategies

Wize Up to Your Best Financial Decision!www.loanwize.com.au

Page 2: Debt Elimination Strategies

How Much do You really know about Jon?

Page 3: Debt Elimination Strategies

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.

Page 4: Debt Elimination Strategies

Debt Elimination Strategies

Page 5: Debt Elimination Strategies

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

Page 6: Debt Elimination Strategies

How hard is it?

Page 7: Debt Elimination Strategies

Easier than you think!

Page 8: Debt Elimination Strategies

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!

Page 9: Debt Elimination Strategies

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

Page 10: Debt Elimination Strategies

Results are staggering!

Page 11: Debt Elimination Strategies

You turn the interest saving of $262,788 into

$1,174,392If you saw Mike, you could probably make it more!

Page 12: Debt Elimination Strategies

Here is another look with a different loan amount

Page 13: Debt Elimination Strategies

Seek Professional Advice!

• You don't talk to a plumber about your curtains do you?

• Seek quality advice from specialists, not friends and family!

Page 14: Debt Elimination Strategies

Sounds Easy?

Where do I come up with an additional $300 pw?Check out the Fact Sheet on your desk.

Page 15: Debt Elimination Strategies

Wize Up to your Best Financial Decision!