With interest rates so high currently many people will find themselves going through tough times financially. What we don’t realize is that this statement holds many reasons to be grateful for.
The fact that you are going THROUGH your struggle, and not being overcome by it, means that you are successfully managing your finances to settle your monthly bond installments and other loan agreements. Every month that you are able to pay your loan repayments is a small victory leading your one step at a time towards becoming BOND FREE and Debt Free.
With those victories under your belt you can begin to have a brighter outlook on your current financial situation.
And in the meantime here are 3 Solutions to dealing with the current season of High Interest Rates:
1) Extend your loan term
By extending your Home Loan repayment term you’ll be able to lower your monthly installments until rates being to drop.
2) Consolidate your debt
Debt consolidation is a highly recommended way of managing your debt repayments. Although you will increase your total outstanding bond amount – your total monthly expenses will be lower.
3) Switch for a lower interest rate
By switching your existing home loan to another bank you can take advantage of a lower interest rate which should help to reduce your monthly bond repayments to a more affordable level.
For more assistance regards these and other options available to your Contact one of our consultants.
Email: Olen@propertyloans.co.za
Ph: 0861 111 563
or Complete This Online Form
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