Knuckle Down Time
Here's a way that puts fun back into your
life and allow you
to be in control of your finances.
There are so
many different ways to fine tune your financial situation, but
here is an example on how we saved this client $125,308.00
thousand dollars in interest and has the opportunity to pay off
his home in 17 years instead of 25.
We found an extra $900 in his pocket per
month
without doing anything, other than just "Knuckling Down" there Finance
to work for them.
Here is Mr. XXXX
finance details.
Home Value? $500,000
Home Loan Amount? $250,000
Which Bank? NAB
Interest Rate? 7.25%
Type of Loan? Interest and Principle
How often do you pay your home loan? Monthly
What is your minimum Payment? $1,807.02
How much are you actually paying? $1,850
How often do you get paid? Fortnightly
How much do you bring home? $1,510
Where does your money go to? Saving Account
How often does your partner get paid? Weekly
How much does your partner bring home? $500
Where does your partners money go to? Saving Account
If you have an Investment Property or Portfolio, what is the total
value? nil
Total Investment Debt? Nil
Total Rental Return? nil
Credit Card Limit? $15,000
Amount owing at end of month? $8,000
Credit Card Interest Rate? 17.15%
How much do you pay into your Credit Card monthly?
$500
Personal Loan Amount? $12,000
Interest Rate? 10.5%
What is your minimum payment? $257.93
How much do you pay? $260
Car Loan Amount? $18,000
Interest Rate? 10.5%
How much is your monthly payment? $386.89
Summary on
monthly Payments
Home Payment $1,807
Credit Card Payment $500
Personal Loan Payment $258
Car Loan Payment $387
Total Monthly Payments - $2,950.89
Knuckle down time -
By just consolidating all the debts we will
reduce Mr. XXXX monthly payments from $2,950.89
to $2,081.68 giving him an extra
$900 in his pocket for lifestyle.
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Now lets take it one step further and make weekly payments instead of
monthly and divide
the payments by 4 and make the total repayments
$520 per week.
Please note when you select the weekly repayment frequency they will
reduce the payments, like in the example below it is $479.99 but we want to keep it at
$520 so we will make the extra payment of
$40 per week.
We have now saved time on the loan of 4 years and 6 months,
with a huge saving $71,894.00 in interest.
Lets go that one step further now and from the
$900 savings, why don't we use some
of it towards the home loan with
an extra $200 per month at $50 per week
and add it to the $40 making the extra payment
now at
$90/week. Meaning they will still have
$700 savings per month.
We have now saved
time on the loan of 8 Years and 2 months and saving
a unbelievable saving in interest of $125,308.00.
Can you imagine if
these people just keep doing what they have been doing, they will pay
interest for an extra 8 years
and 2 months and for nothing.....
I am going to take
this to greater heights now and tell you what other options we have to
improve our situation even further.
How much do you
think we can save on interest if we put all of our incomes into the
home loan and allowed the money to rest there and used the credit card
for purchases?
Then paid the credit card debt at the end of the month when it was due from
the home loan?
Summary
|
Originally -
Home Payment $1807
Credit Card Payment $500
Personal Loan Payment $258
Car Loan Payment $387
Total Monthly Payments - $2,950.89
Home to be paid off in 25 years
|
Now -
Total payment $2279.96
Saving a huge $125,308.00
Home will be paid off in 17 years
saving 8 years. |
Ok.... Lets take the above example and take it another dimension.
From the $900 per month saving why don't
we invest in a property for approx $350,000
and allow $100 /week to service the investment.
What would we have, a home and an
Investment property with a total value of
$850,000 plus we have an extra
$400 cash to go in their pockets for extra payments on the home loan
if they wish or just for lifestyle. By knuckling down these finances
we have created wealth and helped pay off the home in quicker time.
Also, now think about how we can use the rental dollars and rest it in
the home loan including the tax we will claim back weekly with the
wages. Just imagine how much we can pay off the home loan off now.
Just remember - Everyone has different financial situation and commitment
level so one way may work for one person yet will not work for
another.
Just remember
we created all this by fine tuning and "Knuckling Down" on their finances.
If you would like to
see how much we can save you and create, go to the link below
and you will be directed to a webpage with questions it is so important to get as much details as we can to try and help you.
Please Note- Some of these questions are personal but needed to be
asked so we can get a correct snap shot of what your financial
situation is.
Kind Regards
Mr. Dino Livanidis
0418-872280
www.npis.com.au
