Ph: (02) 9370 56 64

Easy ways to improve your investments bottom line

Easy ways to improve your investments bottom line

By Ryan Ellem on Feb 25 2019


A key focus for all savvy investors is to ensure they are constantly improving their bottom line.  Here are 7 easy ways to review and improve your portfolio.
 
  1. Prepare a personal family budget and pay attention to the details: Put your pen and paper at work to know where your income is coming from and what are your weekly and monthly expenses are.
  2. Get a discount on your current mortgage rate: Get in touch with various Banks and ask for a discount on your current mortgage rates. Arm yourself with what their competitor’s rates are and a threat of switching lenders. This could save you thousands of dollars in repayments.
  3. Be inclined to Good Debt rather than drowning in the bad: Focus your efforts on reducing the bad debt that is not deductible and make sure your Investment loans are interest only facilities.
  4. Pay your mortgages on a weekly or fortnightly basis: Banks calculate their interest daily, so get in touch and put in a request to pay the repayments on a more regular basis. This will allow you to save thousands in interest over a loan period.
  5. Use your credit card sensibly and manage the credit terms on offer versus borrowing: If your credit card cycle is the 20th of the month; defer payments till the 21st if possible which gives you potentially up to 50 days before actual payment is due all interest free.
  6. Create an offset account: Any surplus funds are offset against your mortgage to reduce and save the interest.
  7. If you have any shares and investment properties that are negatively geared, arrange a PAYG
  8. variation at the beginning of each year: Use the extra cash gained from PAYG variation to pay off the home loan or add to your investment portfolio.

This is general information, please seek tax advice from a specialist accountant and/or wealth planner before making investment decisions.

You may also like

An unseen investment

An unseen investment

Is buying an investment sight unseen a good idea? Plus how can you minimise your risk
Getting tenants to renew their lease

Getting tenants to renew their lease

What you can do to ensure your tenants want to stay in your property.
Is there still relevance in RBA rate watching?

Is there still relevance in RBA rate watching?

Does it still matter if the Reserve Bank of Australia (RBA) holds or cuts the official cash rate ...

Subscribe to our newsletter

Please enter your name
Please enter your valid Email Address
Please checked I Agree to Terms & Conditions and Privacy Policy
Please verify that you are not a robot.