1) Use you pay day to your best advantage!

Get your salary direct credited to your line of credit; (get a line of credit if you dont have one equivilent to a months salary);

2) Fially use your Credit Card to benefit you!

Use your credit card for 45 days to get free credit for that period; pay it off from your line of credit on the latest possible day to avoid interest); The free interest and small reduction of debt has a big compound interest benefit over time;

3) Inject some fibre into your mortgage diet!

Make your mortgage payment with greater regularity. Make pyments fortnightly if you’re paying monthly, has a big impact on compound interest paid over a long time.

4) Pay more!

If you can, adjust your payments to be the equivalent of paying your mortgage off over 15-20 years Principal and Interest, not 20-30 years as you pay a lot more interest.

For example a $500,000 loan over 30 years at 7% has a monthly payment of $3,327, if you change the payment to $3,876 you will pay this loan off over 20 years. This is a saving of $267,186!!

Do you have any more tips? Please share in the comments below!