Everyone at some stage of their life will be trying to hard save some those extra pennies for something special. It can be for a holiday, or a big purchase like a car or deposit on a home. However, few people realise that there are tools available to assist you reach your savings goal faster. So what can you do to making saving easier?

Consolidate the debt

One thing that’ll slow you down is bad credit. This includes getting behind on payments for your mobile phone, failing to pay your utility bill(s), or amassing too much credit card debt. Catch up with these before you save, erase the debt and you’ll be looking much better when the time comes to get a mortgage.

This is where a mortgage broker can help. By refinancing your existing home loan, you can reduce your repayments, pay off existing debt through consolidation and get your finances back on track. It can also help you prepare for those unexpected costs that may arise in the future.

Don’t fall back into bad habits.

It’s always the things you don’t expect that can hit the budget hardest. From medical bills to replacing a recently exploded toaster, having a small pocket of funds for a rainy day will become second nature once you start. Get ahead early, and you’ll stay ahead for ages!

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