Saving money with debt consolidation | Sale, Warragul & Traralgon
Are you struggling to manage your debts? If you have multiple sources of debt like credits cards, personal loans or car loan - you might consider consolidating your debt into one low interest loan. It's a great strategy to save money and pay off your debts faster.
Consolidating debt can make it easier to manage your debt by combining all debt repayments into one regular, consolidated repayment. As your smaller debts likely have higher interest rates, having one larger (and low interest rate) loan could potentially save you thousands in the long run. Not to mention the time you will save keeping up with the admin lots of smaller debt can bring.
The benefits of refinancing to consolidate debt
Your home loan is often a good choice for debt consolidation as it usually comes with the lowest rate of all types of credit. The downside is that you may be transferring a short term debt (like a credit card balance) into a long term loan (your home loan).
Paying a bit more off your loan each month is a sensible step to minimise overall interest charges. Find out more about refinancing your current home loan
If you're not yet a home owner, a larger personal loan to pay of your combined smaller debts is also a good option - there are some great low rate personal loans available.
Making better financial choices for a better life
Consolidating your debt will be a great strategy to get debt-free sooner. But it doesn't always address the underlying issue of debt management and savings. Our financial adviser David, offers a complimentary first appointment so you can understand more about how a good, simple financial plan could help you get more out of your money. Contact us directly to book your complimentary financial planning appointment.
How can Mortgage Choice in Sale help you consolidate well?
When you are struggling with managing your debt and need urgent help, it's easy to go for the first product offered by your bank. But chances are you could save money by shopping around. That’s where Mortgage Choice in Sale can help you.
Dane will guide you through the debt consolidation loan process and help you understand all your options. At Mortgage Choice in Sale, we remove the hassle and stress out of finding the right debt consolidation loan by doing all the research, paperwork and follow-up for you.
Some resources to help guide you
- Watch: our simple property & finance videos
- Do some basic sums with our home loan calculators
- Read our blog articles & tips
Let's chat about your next step
Book an appointment with our Gippsland team on (03) 5144 3265 or 0438 626 885 or click on the Contact Us button at the top of the page.
We service the Gippsland areas of Sale, Traralgon, Warragul, Inverloch, Wonthaggi, Leongatha, Morwell, Churchill, Moe, Heyfield, Maffra, Rosedale, Bairnsdale, Paynesville, Lakes Entrance and surrounds.
We can help you with:
- Home loans
- First home loans & incentives
- Construction loans
- Debt consolidation
- Business & equipment finance
- Personal loans
- Car loans & leasing
- Financial planning