MONEY MAG’S EFFIE ZAHOS
FINDS FIVE WAYS TO PLUG
A LEAKY BUDGETHOW TO EARN & SAVE
DO A BUDGET Highlight your
expenses, negotiate with your providers
and monitor your cash fl ow. If doing
a budget is too painful, ask your bank for a
list of your direct debits or periodical
payments. Chances are a handful of
regular bills are eating up your pay. Home
loans can bring about the greatest
savings. The difference between the
cheapest variable home loan interest rate
and the dearest is a massive 2.34%. On a
$500,000 mortgage over 25 years
that equates to over $721 extra in
monthly repayments. Check your
current rate and ask your lender for a
better deal – or see if taking your business
elsewhere will deliver savings.WORK OUT YOUR DEBT LOAD The formula is simple
and it gives you a good idea as to how much debt you have
compared to how much you earn. Simply divide your total debts
(this includes your rent or mortgage, minimum credit card
repayments and loans) by your total income and then convert
that decimal to a percentage. Let’s say your monthly household
income is $6500 and your monthly payments on your debt load
totals $3000. Divide $3000 by $6500 and you get 0.46 (or 46%).
1 Ideally you want to stay south of 40%.
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LIGHTING 101
TRENDS, ADVICE AND BEST
BUYS, ROOM BY ROOM
LET’S GO SHOPPING!
EVERYTHING YOU NEED FOR
WINTER AND HOW TO STYLE IT
NEXT
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JUNE
photography maree homer 18
styling kerrie-ann jones@reallivingmag
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