How To Build An Emergency Savings

How To Build An Emergency Savings

A simple fact and integral facet of modern capitalism is that most people are going to be living paycheck to paycheck. While this is definitely a facet of capitalism and it’s construction, there are ways that you can get around it and protect your family in the face of an emergency. Being prepared is how you survive an emergency and it’s important to concentrate on the ways in which you can improve your situation so that you can help your family and grow when needed. When you live paycheck to paycheck, any unsuspecting costs can set you back on rent or mortgage, car payments and groceries and can actually destroy the foundation of which you’ve built your life upon. This is important to remember because building up an emergency savings, while relatively easy, does take some willpower. Here are a few steps you can take to make an emergency savings that is vital to your families survival.

The first thing you should do when you’re looking to build an emergency savings account is to build a budget. Although budgeting sounds … Read the rest...

Mortgage Broker Melbourne achieves lower rates

Mortgage Broker Melbourne achieves lower rates

A good mortgage broker represents the home borrower and negotiates with the banks to get the best possible terms of the home loan.  What are the terms that are important for mortgage brokers melbourne to negotiate?

The most important is the interest rate. Do you want a fixed interest rate on your mortgage  or a variable rate? What is the difference? You may ask your mortgage broker melbourne. A fixed interest rate is one that does not change over the term of the loan. A variable rate on the other hand will change if the Reserve Bank changes interest rates.

A mortgage broker can also help you lower your repayments by increasing the term of the loan to a maximum of 30 years. Terms can range from 15  years to 30 years and your repayments can half as a result of the term of the loan.

The other critical aspect of a loan a mortgage broker can negotiate is an offset or redraw option. This allows the borrower to  park some cash in an account which will reduce the … Read the rest...