Take this opportunity to put the tax you save into your home loan account You will be shocked what you save. If you send me your current bond amount, rate and tell me how much extra you can put in (From your tax savings) Ill show you what the impact is. Its quite frightening
Example You have a R 450,000.00 home loan over 20years at 12% = R 4954.89 per month
So if you now save R 200.00 per month on tax and add that to your monthly payment (Savings)
Your bond term will reduce from 20 years to 17,3 years
Your monthly payments increase to R 5154.89 per month
You save interest of R 501.20 per month
Best of all you save R 120,288.50 over the period of your bond.
ITS A NO BRAINER
You can save email me wizchris@gmail.com and I'll show you how much you will save
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