07/08/2026
๐๐ข๐ ๐ฒ๐จ๐ฎ ๐ค๐ง๐จ๐ฐ ๐ญ๐ก๐๐ซ๐ ๐๐ซ๐ ๐ฌ๐ข๐ฆ๐ฉ๐ฅ๐ ๐ฌ๐ญ๐ซ๐๐ญ๐๐ ๐ข๐๐ฌ ๐ญ๐ก๐๐ญ ๐๐๐ง ๐ก๐๐ฅ๐ฉ ๐ฒ๐จ๐ฎ ๐ฉ๐๐ฒ ๐จ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐ก๐จ๐ฆ๐ ๐ฅ๐จ๐๐ง ๐ฒ๐๐๐ซ๐ฌ ๐๐๐ซ๐ฅ๐ข๐๐ซ ๐ฐ๐ข๐ญ๐ก๐จ๐ฎ๐ญ ๐๐๐ซ๐ง๐ข๐ง๐ ๐ ๐ฌ๐ข๐ง๐ ๐ฅ๐ ๐๐จ๐ฅ๐ฅ๐๐ซ ๐ฆ๐จ๐ซ๐?
Most people set up their loan and make the minimum repayments without realising how much money they could save with a few small changes.
Here is what actually makes a difference.
Make extra repayments whenever possible. Even modest additional amounts each month go directly toward your loan balance, not interest. That means every future interest charge is calculated on a smaller amount. Small effort, big impact over time.
Switch to fortnightly repayments instead of monthly. Because there are 26 fortnights in a year rather than 24 half months, you end up making the equivalent of one full extra repayment every year. Most people do not even notice the difference in their budget but the loan pays off noticeably sooner.
Put lump sums to work. If you receive a tax refund, a work bonus or any unexpected income, consider putting some or all of it toward your loan. Large lump sum payments can significantly reduce the total interest you pay over the life of the loan.
Use your offset account or redraw facility. An offset account reduces the interest calculated on your loan daily while still keeping those funds accessible if you need them. If your loan has this feature and you are not using it properly, you could be leaving money on the table.
Remember, interest is calculated daily and charged monthly. Every day your balance is lower, you are saving money.
The main takeaway is this. The earlier and more often you reduce your principal, the less interest you pay and the faster you become debt free. Even modest extra repayments can save thousands of dollars over the life of a loan.
Are you making the most of your home loan features? Drop a comment below or send us a message and we can take a look together.
Call Stacy on 1300 266 338 or book a free consultation through the link below.
