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  • FREAKY
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  • Member For: 15y 6m 3d
  • Gender: Male
  • Location: Melbourne
yer but I havent got any savings to put into offset accuont im freekin broke haha
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  • Donating Members
  • Member For: 17y 7m 7d
  • Gender: Male
  • Location: Melbourne

Any amount no matter how small or how little time it is in the account

Has a benefit

Everyone with a home loan should have one

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  • Gold Donating Members
  • Member For: 10y 4m 30d
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Yep.

 

The basic idea is keep any money at all ie; food, petrol, beer, internet money in the loan account until you need to spend it. 

 

Even if you live week to week and have no savings you can still benefit from offsetting interest. 

 

This idea works for personal loans as well. 

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  • Member For: 9y 1m 9d
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  • Location: Radioactive wasteland

Serious lol's at buy 10 turbos were had. I would probably do that.

 

Get on it freaky. There's ways to do it even if you're broke like puff said. 

  • FREAKY
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  • Member For: 15y 6m 3d
  • Gender: Male
  • Location: Melbourne

interesting

 

might look into it more seems like everyone has one and ive never heard of this.

 

sorry for the hijack. do we have a thread for such thing? (keif may move cheers admin)

  • Gold Donating Members
  • Member For: 10y 2m 6d
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  • Location: Canberra ACT

Even if you don't have a chunk of cash, as explained above if you put all your expenses through a credit card and have it set to pay off on the due date (ie before interest starts to accrue) , that cash is sitting there reducing your interest on your mortgage.

Haha I rang my bank today and quoted the Bank West rates above and got my interest reduced a bit. Although I went with "my friend was telling me he gets this rate", as it seemed more legit than "some bloke on fordxr6turbo.com"

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  • FREAKY
  • Donating Members
  • Member For: 15y 6m 3d
  • Gender: Male
  • Location: Melbourne

hmm yer I will investigate over the weekend.

 

I dont even know what my rates are atm. :/

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  • Member For: 13y 3m 15d
  • Gender: Male
  • Location: Perth
  On 02/02/2017 at 10:35 AM, El Andrew said:
Haha I rang my bank today and quoted the Bank West rates above and got my interest reduced a bit. Although I went with "my friend was telling me he gets this rate", as it seemed more legit than "some bloke on fordxr6turbo.com"
Glad I could be of assistance haha!
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