Episode Synopsis "WHAT IS AN INTEREST OFFSET ACCOUNT?"

What is an interest offset account and why does it rock? Interest offset accounts are being offered to customers more and more by  financial institutions.  Unfortunately, despite the additional fees people often don't know what  they're for, why they're great and how to use them!  We look at the PROs, CONs and a little example on just how much interest  and time you would save on a loan over the life of the loan if you had  $50k in the interest offset account.  The WORST thing you can do is have an interest offset account, be  incurring the fees for the provision of one and NOT USING it. Please  don't do that :)   Reach out to me in the comments with any questions or thoughts, love to  hear from you, and if you have a question for next time put it down  below!  If you want to do a little calculation on just how much an interest  offset account, you can just google "interest offset calculator" and  there will most likely be one from your own bank. That's what I did!  Want to listen to this instead of watch it? Check out The Simple Stuff  on Anchor.FM? Or read up on it on the Simple Stuff blog.   Disclaimer: This audio isn't the be all and end all on interest offset  accounts. Nor is it financial advice! You should definitely seek out a  great financial adviser and mortgage broker to get you into a product  that is suitable to your needs!

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