Tired of Wasting Money - Friend Recommended OzBargain

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  John Dough on 13/12/2016 - 10:45

  NAB have a good deal on home loans over 250K and you can negotiate a great rate if your finances are in good order. You can package all your cards and accounts with one bundle and single annual fee.
  250K points on Virgin will allow you to fly just about anywhere in the world.

  I've looked long and hard, and IMO you wont find better value for money all round if you;

  1. Screw them down to best rate you can. You will be able to get it as low as any other comparable product out there.
  2. Link a velocity credit card with 55 days interest free and pay it off completely (automatically) each month benefiting you and not costing you a cent as the card is packaged into your single bundle.
     (Points on every purchase and your offset account keeps offsetting for those days you use the credit card)
  3. Link an offset account to your home loan and try keep as much money in there, as long as you can. i.e schedule all bills to the day before they are due, not a day before.

  Others may disagree, but 250K points sure does sweeten the deal!

  Enjoy the many benefits and insights from the OZB crew! It's very informative and entertaining on here….

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  [Deactivated] on 13/12/2016 - 19:05

  OzBargain is great if you're very patient. If you aren't then it's likely it'll make you spend more money 'cause you're getting a good deal.

  To get your provebial <censored> together you need to figure out your fixed expenses (rent/mortgage, utilities, insurance, council taxes, income tax, strata fees, debt repayments, stuff you can't easily change) and variable expenses (groceries, going out money, lunches/coffees, house/car maintenance etc.) and figure out how to cut down the variable ones as much as possible without ruining your enjoyment of life.

  Then open up a decent savings account like the ING Savings Maximiser. Make sure you fulfill the criteria to get the extra interest (I think it's $x deposit per week or month based). Dump everything you can into it.

  That's the outline. You're going to have to fill it in. I recommend reading personal finance books. A good local book would be Making Money Made Simple by Noel Whittaker (tldr; save, invest, compound, profit).

  Once you've got ~20% of the kind of house you want to buy and assuming your income will allow the loan approval then bam, buy yourself a house. That said I strongly recommend you only buy in established, desirable suburbs. Right now that's a lot easier in Perth than it is in Sydney or Melbourne.

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