23 December 2011
It’s been a long year… a weird saying as, leap years aside, all years are the same length. Never-the-less it’s a comment we hear over and over again and I’m sure many of you can relate. We feel worn out from the daily grind, from the busy life we lead that keeps us distracted from the things that really matter.
The end of year holiday season presents many of us with a brief (a bit too brief!) opportunity to extract ourselves from this chaos and to simply sit back and unwind (provided you ignore your work emails which have somehow managed to permeate their way in to every free moment we have). And this is exactly why so many of you will not act upon the suggestion I am about to propose.
If you consider that for many of us, the purchase of the family home will be one of the most significant financial transaction we are involved in throughout our life. It involves the biggest numbers and the debt we use to fund the purchase stays with us for decades.
As such, it follows that we should all focus a fair amount of our attention to making sure we have the right product and the best deal. Yeh right. For most, getting a home loan is something they do because they have to and once approved, the details are buried away in some folder in some family admin file never to be reviewed again. Yet we will drive 10km out of our way to find fuel $0.10 cheaper. Or buy deal a day coupons for stuff we don’t need just to save a few bucks.
The reality is that if we all spent 2 hours per year reviewing our home loans, we could realise savings that make all our other initiatives seem irrelevant. But we don’t. Because we are lazy. And home loans are boring. And the cricket is on (which is only slightly less boring).
So this year make a change. Force yourself to sit down for two hours sometime over the holidays to review your finances. Research, shop around and compare deals… and maybe next year your Christmas present will be that overseas trip you dreamed of… all because you invested 2 hours of your life at the urging of MyRate to Review your current home loan.
Ho ho ho and happy holidays from all the team at MyRate.
