World Savings Day started in Italy way back in 1924, to promote thriftiness and depositing your savings at the bank, instead of sticking them under your mattress.
Since then it’s become something of a tradition, celebrated on October 31st in countries around the world – in Austria, the day has an official saving mascot below called the Sparefroh (literally: Happy Saver) who was more well-known than the President and even had a street named after him.
Australians should use the annual”World Savings Day” to review their mortgages and put the savings into their pockets rather than inflating the profits of the banks each year!
An article by the Australian Financial Review published on October 28 2016 suggested that a person with $1 million mortgage paying 5 per cent could save $683 a month (or more than $204,000 over 25 years) by switching to lower interest rate.
The Loans Analyst can quickly and easily do a home loan health check at no cost to you, so give The Loans Analyst a call on 1300 79 72 27 or contact us online and we will get back to you asap to see how much we can save you!
Theo Angelopoulos is the Director and Founder of The Loans Analyst. A boutique mortgage broking advice firm based in the Sydney CBD that helps clients to buy property, provide strategic loan structuring advice and making sure you don’t pay more for your home loan than you should.
To stay up to date with all things finance and property follow us on Facebook or Instagram.