Double your deposit in half the time - Part 2
This week, we provide you with Nila Sweeney's 2nd valuable tip to help you save:
Manage your debts
There is no doubting the convenience of credit cards when you are running a little short. They're handy to use and accepted almost everywhere. While it's surprising just how easy it is to get one, it's not so surprising to understand that there are a lot of people out there that cannot manage and reasonably afford to use a credit card.
But do you really need one? If so, how many are you using? And what about personal loans, car loans and interest free purchases? Face it, without credit you wouldn't own half the stuff you do but on the plus side, think about how much bigger your deposit would be if you hadn't spent all that money on consumer goods.
Remember, you can't save effectively if you are paying off debts. So cut down on those credit cards, consolidate your debts and do everything you can to become debt free.
Stay tuned for part 3 of Nila's handy tips to help you save.
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This information may be regarded as general advice. That is, your personal objectives, needs or financial situations were not taken into account when preparing this information. Accordingly, you should consider the appropriateness of any general advice we have given you, having regard to your own objectives, financial situation and needs before acting on it. Where the information relates to a particular financial product, you should obtain and consider the relevant product disclosure statement before making any decision to purchase that financial product. This document, including all tax and super calculations, has been prepared using legislation in place as at 1 July 2017.
Source of article: https://www.yourmortgage.com.au/home-loan-guide/double-your-deposit-in-half-the-time/77846/
Source of image: http://blog.nasafcu.com/2015/06/paying-student-loans/