Set up a recurring payment.

Most home loans allow you to make additional payment. Set up a recurring payment that you will never miss. Don’t aim too high. Make sure it is an amount that you will never miss. If you are likely to miss it – you are likely to stop the repayment in the future. Start low and if you can increase the amount over time all the better, but even $10 per week will make a huge difference over time! So how much could an extra $10 per week save you??

Well, you may be surprised to hear that an additional $10 per week could save you around $35,000 in interest over the term of the loan and reduce your term by nearly 2 years. Would you have thought that $10 per week could make such an impact?

If there are 2 of you and you both put in an extra $10 per week your savings could double!!

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