How do I pay off my loan faster?

In refinancing and consolidating your debt with the right structure and better interest rate, here are some possible ways you can pay your loan off faster:

• Have an offset account where extra funds offsets that amount of principal

• Make fortnightly or weekly repayments instead of monthly.

• Repay a greater amount than required. For example if you double your principal repayment, you should get rid of your mortgage in half of the time

• Get an investment property. This is a whole other topic.

• Rent out rooms at your home. A favourite of my younger clients.