How to reduce the impact of rate rises
Better Loan Solutions in Mornington Peninsula • Learning Centre • Insights
Better Loan Solutions in Mornington Peninsula • Learning Centre • Insights
The recent rate hikes by the Reserve Bank of Australia (RBA) have understandably put borrowers under
pressure. The fact that the RBA has implemented a handful of consecutive holds is little consolation for those struggling with higher
borrowing costs.
Here are some strategies you can consider:
Taking a proactive approach can help you mitigate the impact of rising interest rates and put you back in control of your financial situation. Refinancing can not only lead to better interest rates but may also allow you to consolidate debts or access equity in your home at the same time.
Mortgage brokers can help compare rates and loan terms which could give borrowers some additional room to breathe.
Darren and Jenny have one child and are planning for his secondary education at a Melbourne private school. Utilising education bonds, they aim to ensure they have sufficient funds to cover all tuition fees and associated costs throughout his education.
As Australia's highest marginal tax bracket impacts more individuals, a growing number of Australians face rising tax obligations due to "bracket creep," where wage growth outpaces tax rate adjustments. This trend is expected to persist, with tax-efficient strategies the backbone for financial advice to help individuals secure long-term wealth.