1. Did you know that if you paid just $50 extra a week, you could potentially knock four years off the life of your loan? That’s less than a trip to the movies! While it might seem impossible to pay off your home loan, in reality a small increase in your repayments now will mean you are debt free sooner. Knock years off your loan with just $50 Step 1: Change your monthly repayments to weekly Step 2: Increase your weekly repayment by a small amount, e.g. $50 Check this out in practice: • Home loan $600,000 • Change to weekly loan repayments and increase amount by $50= interest savings of $60,000 over the life of the home loan • Then you will own your home four years sooner! Think you can spare more than $50 a week? Check out the graph below to see just how easy it really is 0 5 10 14 19 24 29 34 $200k $400k $600k $800k $0k Original loan Loan with extra repayment Principal remaining ($) vs. Time (years) How?