For many, the prospect of buying a new home is a daunting one. It requires a vast amount of effort, consideration and thought. It is also likely to be the most expensive decision of your life. Many couples snap up the first property which fits their financing options and desired location in a flustered manner. This article seeks to explain the process so that you can make a more reasoned purchase of your first home.
If you own a home and have some extra cash, a mortgage offset account is a great way to pay off your home loan sooner and enjoy some tax benefits at the same time. These types of accounts are not for everyone so it pays to get some financial advice first before deciding on the best strategy to own your home sooner. Mortgage offset accounts are offered by all financial institutions and are quite simple to set up so you can start saving sooner. Some lenders, even if they specialise in fast home loans, may even offer mortgage offset accounts from the get go.
After finalising the costs required to keep your business in operation (wages, debts, licences, taxes, etc.) you may well think that whatever is left can be put straight back into your pockets. This is basically true, in a sense, if you are the sole owner of the business. It can also be easily achieved in partnerships by bumping up your salary or paying dividends.
Taking all profits and any more than a modest wage out of your business is, however, a very foolish mistake. Here is 5 key reasons why every Sydney accountant would tell you the same thing:
With the global economy pretty shaky these days, everyone is looking for ways to try and secure their financial future. If you want your finances to be healthy and growing, the trick is to combine traditional wisdom with a bit of thinking outside the box to give yourself the best chance of surviving any market meltdowns. The following are just a few of the great ways you can ensure that your financial future looks promising.