How to save thousands and wipe out your mortgage

If you're a mortgage holder, you know all too well the frustration of paying hundreds of thousands in interest over the life of your home loan. But did you know you can wipe years off your mortgage and save hundred of thousands in interest, using the power of an offset account?

In this episode we breakdown: 

• What is an offset account and how does it work? (in simple terms)
• How much could you save? We compare scenarios with $10,000, $50,000 and $100,000 in an offset account to show you the potential interest savings
• Our tips to maximising the benefits of an offset - so you can live mortgage free faster
• Should you save or invest? We weigh up whether your savings are better spent in an offset account or invested in stocks

Links referenced:

• Listen to offset v debt recycling v superannuation on Equity Mates Investing
• Have an investing question? Record a voice note and we'll answer it on the podcast!
• Join our FB discussion group to continue the conversation

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In the spirit of reconciliation, Equity Mates Media and the hosts of Get Started Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. 

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Get Started Investing is a product of Equity Mates Media. 

This podcast is intended for education and entertainment purposes. Any advice is general advice only, and has not taken into account your personal financial circumstances, needs or objectives. Before acting on general advice, you should consider if it is relevant to your needs and read the relevant Product Disclosure Statement. And if you are unsure, please speak to a financial professional. 

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