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Mugabetown - Whoretownin' At It's Worst.


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im looking to do it differently.

similar price bracket, but near on 50% deposit, because smaller loan means less interest to the bank.

It's why I want a 20% deposit. I can get away with only a 3% deposit, but I did the maths.

If I change the deposit from 10 to 20%, at my repayment rates, I delay purchasing the house buy 12 months, BUT I actually end up owning the house in 12 months less, meaning I pay the house off 2 years quicker then I would have before... If I'm paying it off 2 years early... Think of how much I'm saving straight up...

Reason I won't go for a bigger deposit, if I plan to stay where I am for an even longer period, I'll need to find my own place to rent, so while I am avoiding paying rent, that's going into savings and making the dream sooner... LOL

Debt shop. Move money around to lowest possible repayment figures. 0% credit cards and don't borrow anymore for a while. It reduces debt levels and increases good repayment history. Serviceable debt isn't the enemy, it's just people never plan for things like: what if I lost my job tomorrow.

agreed. Or other factors they could not foresee

It's why I want a 20% deposit. I can get away with only a 3% deposit, but I did the maths.

If I change the deposit from 10 to 20%, at my repayment rates, I delay purchasing the house buy 12 months, BUT I actually end up owning the house in 12 months less, meaning I pay the house off 2 years quicker then I would have before... If I'm paying it off 2 years early... Think of how much I'm saving straight up...

Reason I won't go for a bigger deposit, if I plan to stay where I am for an even longer period, I'll need to find my own place to rent, so while I am avoiding paying rent, that's going into savings and making the dream sooner... LOL

if you have 20% or more you also can forgo the insurance for the deposit which you have to get if you go in on a tiny deposit.

Debt shop. Move money around to lowest possible repayment figures. 0% credit cards and don't borrow anymore for a while. It reduces debt levels and increases good repayment history. Serviceable debt isn't the enemy, it's just people never plan for things like: what if I lost my job tomorrow.

Yep, I consolidated about 9K worth of debt maybe 3/4 months back onto a 0% credit card. Didn't make a single repayment on it for 6 odd weeks. In four weeks time it will be 100% paid off, and at the same time I'm clearing another personal loan. Unfortunately it's too large of a debt to shift onto a 0% credit card at this stage, but should be cleared by around April next year based on selling one of my cars.

It's why I want a 20% deposit. I can get away with only a 3% deposit, but I did the maths.

If I change the deposit from 10 to 20%, at my repayment rates, I delay purchasing the house buy 12 months, BUT I actually end up owning the house in 12 months less, meaning I pay the house off 2 years quicker then I would have before... If I'm paying it off 2 years early... Think of how much I'm saving straight up...

Reason I won't go for a bigger deposit, if I plan to stay where I am for an even longer period, I'll need to find my own place to rent, so while I am avoiding paying rent, that's going into savings and making the dream sooner... LOL

its simple really. The bigger the deposit the better the Banks will love u!

Biggest hint... if ever Esanda try to put you in a new car and can only offer you silver rate, but will specially upgrade you to gold rate. say fu and ask for platinum or you walk lol

interesting

One good thing about debt is that it permits you to have more disposable income and buy things that you can enjoy whilst you don't have osteoarthritis and need a hip replacement :)

depends what u acquire through debt finance.............usually bricks and mortar

depends what u acquire through debt finance.............usually bricks and mortar

bricks and mortar always a wise investment. market in Sydney atm is a sellers paradise, but buyers worst nightmare. A buyer now is unlikely to make any short term gain. Invest in govt bonds.

Having said all this, I blow every last cent on stupid stuff. here's a case in point, I have it fixed in my head that I need an R34 GTR, but one that will appreciate over a long time. So I started looking for a Millenium jade nur m-spec. Then I get in contact with a mate who says that the Endless Drag GTR is available, essentially a highly modified 99 V-Spec. 82k imported, so I make a few calls and confirm. Now, most ppl would agree very cool car, but if that engine blows all you're left with just another white, blown motor 99 V-Spec. At this point most ppl come to their senses. Me, I think ohhhhh this one's fast, fcuk it I'll finance to lessen the risk. This is exactly why, I am the worst person to listen to for financial advice.

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