SAVINGS TIP 5

The tips/general advice below are general in nature & do not take into account your objectives, financial situation, or needs. This information should not be solely relied upon. The factual information is not intended to imply any recommendation or opinion about a financial product. Before making any financial or property decisions you should consider your personal circumstances and seek professional advice from professionals such as Financial Planners. Before using our website and reading the content you should read our website terms and conditions.

pay off your current debtsif you pay off any existing debts such as personal loans and credit cards, you will reduce the amount of interest you are paying to financial institutions. Once paid off, you can put your excess cash-flow into savings products to boost your financial position. The interest rates on personal loans and credit cards tend to be a lot higher than the interest rate on your savings accounts, therefore it is a wise decision to make sure you are debt free before saving for your first home.