Mortgage Calculator Tools
Home Loan Calculator - with Amortization option Use our quick loan calculator to
determine your monthly repayments from our sister site, Best Broker
Click here to launch
the Amortization Calculator
Compound Interest One of the wonders of investing is time. Investing a capital or
regular amount and letting it compound. Use the following calculation to
see how money grows.
Click here to launch the Compound Interest Calculator
FREE Budget Planner One of the first steps to wealth creation is to understand your
financial resources .The first place to start is with a personalised
budget, and the simplest way is with the MHQ Budget Master Planner.
Click here to download the
Budget Master Planner (MS Excel Spreadsheet) (right click and save to
your hard drive)
Credit Cards
High interest rates on credit cards should be negotiated
by asking for a lower rate or even getting it bundled into a personal loan. Get
rid of that credit card and replace it with a debit card if you really need to
pay your bills by card.
How to get Some Relief From Bills
Contact your creditor and ask for more flexible repayments. Sometimes you may be
able to get help from the government. Go to www.choiceswitch.com.au in order to
locate your local consumer relations contacts.
Taxation
If you are swamped by tax debt, contact the Australian Taxation Office and
ask for an extension on your payment schedule or even an annulment if you are
experiencing serious financial hardship.
Go to www.ato.gov.au or phone 13 11 42.
How to Apply for a StepUP Loan
In Australia, The
National Australia Bank & The Good Shepherd Youth and Family Service have
put together a new product called the StepUP Loan,
which you are eligible for if you receive Family Tax Benefit
Part A or have a Health Care Card. This will get you a loan (around $800 & $3000)
which may be used to buy
furniture, use cars or computers. 3.99% interest is charged for the loan term
and also the payments are very flexible. Another benefit is that there are no
charges or fess. For more information visit www.goodshepvic.org.au/microfinance.
Superannuation Access
When there is severe financial hardship, under some stringent situations, as in
if you are about to lose your home,
you are able to cash in part or all of your superannuation. Visit www.apra.gov.au for details.
Refinance your loans
See our
article on Mortgage Refinancing
.
Is it worthwhile refinancing your mortgage? With the
current financial climate and indications that interest rates may be on the
slide, a lot of people from all economic groups are thinking that getting a
newer better loan would be the best option. Unfortunately, its not an easy
choice. You need to ask yourself if you will save enough money on your
re-payments to make up the costs of the re-finance. If in doubt, make use
of our mortgage calculator tools.
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*Caution: The information contained on this website
only has
general financial advice. Consult your financial advisor for any specific financial advice.
This will assist in
determining your own situation and
specific financial requirements
