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Alan Madden

Considerations around Financial Fitness + Refinancing

For many Australians, having multiple debts can be stressful.  In fact, research shows that more than half of Australians feel financially stressed about their finances and it affects their general well being. So why is it that more Australians are feeling this way and what can we do to help.

One way we can make amends with surmounting debt is to consolidate it into one managable payment by refinancing. This seems easy but it's important to make sure that you will save money in the long run.

With the Internet and Google, there is plenty of advice on how to consolidate debt and how to calculate the savings. For example, Money Smart, distributed by the Australian government, has solid advice on  how to calculate the savings. You can also access our online calculators to help you calculate repayments.

If you want to make sure you are actually saving and paying less by refinancing it's best to let a professional help you. The reason? The actual cost of switching plus the lifetime of annual fees can occasionally outweigh the savings. So a real calcuation is key. 

let us help you calculate the savings by getting in touch today: alan.madden@mortgagechoice.com.au or 0432 281 837.

You can also learn more about Financial Fitness below:


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