Easing the loan burden
With interest rates constantly on the rise, it’s natural to be worrying about loan repayments. There are, however, ways you can make sure you’re not falling behind:
- Consider both fixed and variable loans, so you’re not caught off guard.
- Deposit spare cash into your loan as frequently as possible, and try to make extra repayments. Remember, interest rates are calculated daily, so by making payments as soon as you can, rather than waiting for the end of the month, you could end up saving.
- Finally, if you must, make changes to your lifestyle. A small change, like bringing your lunch from home, can make a big difference.