During our time as mortgage brokers and personal loan brokers in Rockingham, we are very aware of how tough it is to have enough money left over at the end of the month to have fun. Indeed, too many Australians find themselves spending more money than they make each month, going deeper into debt every day.

There are two ways to have more money. The first is to make more money. The second is to reduce your monthly bills. Here are some great ways to reduce bills.

Compare Your Home Loan

Your home loan will usually be your biggest monthly expense. With interest rates still at historic lows, there is a very good chance that you can save a lot of money every month by refinancing your loan. If you could save $200 a month, it would not only put that money in your pocket now but reduce your loan by as much as $50,000 over twenty years.

Compare Your Personal or Car Loan

The same logic applies to personal and car loans as with home loans. You may be paying too much for your loans and may be able to profit by refinancing them. Refinancing can accomplish one or both of these goals: pay your loan off faster or pay less money per month. With lower interest, more money goes towards the principal. This saves you money.

Debts such as credit cards and retail cards tend to have very high interest rates. A personal loan will have a much lower rate. This will save a lot of money on interest. Most people who transfer credit card debt to a personal loan not only pay the money off faster but do it while paying less money each month.

Call Smartline Rockingham

At Smartline Rockingham, we have access to 28 of the leading lenders in Australia. We know which ones are favourable to specific financial situations. Call (08) 9527 1800.