This is a strategy available to save money on interest, or provide cash (interest free) for investment opportunities.
The below strategy outlines exactly how to save up to $4k pa in interest OR earn a $2,600 return by using a balance transfer method.
This material has been prepared for informational purposes only, and should not be relied on for tax, legal, investment or accounting advice. You should consult your own tax, legal, investment and accounting advisors before engaging in any transaction. Always make sure you can meet the minimum monthly repayments and have the ability to repay the debt in full at the end of the period.
Why? Using this strategy you can:
Save interest on existing debt… (for example, $4k interest saving on $20k of existing credit card debt; or $1200 saving per year on a $20k mortgage at 6% interest rate)
Provide interest free debt to invest (and earn returns of say 13% or $2,600 )
How? Through a credit card balance transfer
The detail:
If you'd like any assistance with this please give Tim a call on 07 823 4980 or tim@agbizaccountants.co.nz
