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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.

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