Banter TRTT Part 13: 2021 Goodbye (To 2022)

[edgie]

Money people and grown ups of the world!

My home loan is currently an offset variable rate one. With a rate rise coming, I was looking at splitting a portion in to a fixed rate account. However, there's every chance that by the end of the year I will have enough in my savings and other accounts to cover the loan completely, if my understanding is correct, which I am never confident about, this should mean I'm paying no interest at all, and therefore there would be no value in splitting the loan?

Does any of that sound correct?

 

[Contested Marx]

Money people and grown ups of the world!

My home loan is currently an offset variable rate one. With a rate rise coming, I was looking at splitting a portion in to a fixed rate account. However, there's every chance that by the end of the year I will have enough in my savings and other accounts to cover the loan completely, if my understanding is correct, which I am never confident about, this should mean I'm paying no interest at all, and therefore there would be no value in splitting the loan?

Does any of that sound correct?

Use your capital to get into non fungibles

 

[Papa G]

Money people and grown ups of the world!

My home loan is currently an offset variable rate one. With a rate rise coming, I was looking at splitting a portion in to a fixed rate account. However, there's every chance that by the end of the year I will have enough in my savings and other accounts to cover the loan completely, if my understanding is correct, which I am never confident about, this should mean I'm paying no interest at all, and therefore there would be no value in splitting the loan?

Does any of that sound correct?

If you will have your mortgage paid off in 6 months you either have a tiny balance or you are expecting a windfall. Either way splitting it or making changes would seem like a massive waste of time.

 

[edgie]

If you will have your mortgage paid off in 6 months you either have a tiny balance or you are expecting a windfall. Either way splitting it or making changes would seem like a massive waste of time.

It won't be paid off, it doesn't have to be paid off for another 17 odd years or so, but the amount in my offset accounts will eclipse the remaining loan total, and fingers crossed I won't be in a net debt position.

I could pay it off in lump potentially, but then I'd be left with like 7 dollars in my savings, which doesn't strike me as clever.

 

[NoddyHolder]

It won't be paid off, it doesn't have to be paid off for another 17 odd years or so, but the amount in my offset accounts will eclipse the remaining loan total, and fingers crossed I won't be in a net debt position.

I could pay it off in lump potentially, but then I'd be left with like 7 dollars in my savings, which doesn't strike me as clever.

If I was in your position I'd set myself a target for savings, maybe $10k, then pay off the mortgage. I'm no financial guru though

 

[dirty2]

edgie any chance U have enough to pay out Hinkley?

 

[Doctor Feel]

 

[Ford Fairlane]

 

[edgie]

edgie any chance U have enough to pay out Hinkley?

**** mate I'm not a multi millionaire, I have a carton of coke zero in the fridge at home maybe I can put that up?

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[edgie]

If I was in your position I'd set myself a target for savings, maybe $10k, then pay off the mortgage. I'm no financial guru though

Was thinking something like that as an option. A year or so in the black so I can build up a cushion then wipe it.

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[Festerz]

Bullet proof back-packs, including mini-ones for primary kids in pink and blue. No chance of stopping an AR-15 of course.

 

[Del165198]

Money people and grown ups of the world!

My home loan is currently an offset variable rate one. With a rate rise coming, I was looking at splitting a portion in to a fixed rate account. However, there's every chance that by the end of the year I will have enough in my savings and other accounts to cover the loan completely, if my understanding is correct, which I am never confident about, this should mean I'm paying no interest at all, and therefore there would be no value in splitting the loan?

Does any of that sound correct?

Did your house cost 50 grand?

 

[edgie]

Did your house cost 50 grand?

Can you even get two sheds for 50 grand in 2021?

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[Del165198]

Can you even get two sheds for 50 grand in 2021?

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You can't get one shed for 50 grand if you're talking building a new one.

But I have no idea how much houses cost in the Yabba dabba doo

 

[StuMan]

 

[edgie]

You can't get one shed for 50 grand if you're talking building a new one.

But I have no idea how much houses cost in the Yabba dabba doo

Geeze what the shed made of? Silver?

Real estate is bloody expensive here there's a lot going to auction lately I don't reckon sellers are getting much interest at those prices. You should see it.

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[Del165198]

The Coopers Regency Park red ale goes alright.

 

[Del165198]

Geeze what the shed made of? Silver?

Real estate is bloody expensive here there's a lot going to auction lately I don't reckon sellers are getting much interest at those prices. You should see it.

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https://m.realestate.com.au/property-house-nsw-broken+hill-139458619

This joint could use some attention.

It's cheap there, but not that cheap for a place that isn't a major fixer upper.

 

[Del165198]

https://m.realestate.com.au/property-house-nsw-broken+hill-135357910

Pub looks a goer. Less than a 1br bedsit in central sydney

 

[dirty2]

https://m.realestate.com.au/property-house-nsw-broken+hill-135357910

Pub looks a goer. Less than a 1br bedsit in central sydney

That could be fun.. drunk every night strippers every Thursday night..

 

[edgie]

https://m.realestate.com.au/property-house-nsw-broken+hill-135357910

Pub looks a goer. Less than a 1br bedsit in central sydney

Got offered to lease that with a mate funny enough lol

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[JimmyBC]

https://m.realestate.com.au/property-house-nsw-broken+hill-139458619

This joint could use some attention.

It's cheap there, but not that cheap for a place that isn't a major fixer upper.

There's sound abuse going on at that property you never put speakers right into a corner like that.

 

[JimmyBC]

When did $50 inspection fees come in? lol fukc off

 

[Del165198]

Got offered to lease that with a mate funny enough lol

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And you didn't take it up? This is what becoming a family man does to you..

 

[Del165198]

That could be fun.. drunk every night strippers every Thursday night..

Instead of pooling our money to sack Hinkley maybe we should all buy a pub in broken hill