Chapter 4: Finance 101
IN THIS LESSON
You’ve probably seen the claim online that paying your mortgage fortnightly will save you thousands in interest. In this episode, Jack Elliott and Chris Bates break down why that isn’t always true, and why it all comes down to how your bank actually calculates your repayments.
You’ll learn the two different repayment methods lenders use, when the “save thousands” theory works, and when switching to fortnightly makes no difference at all. We also cover how to choose the right repayment method for you.
In this episode:
🔑 The two ways banks calculate weekly and fortnightly repayments
🔑 When the “save thousands” theory actually works and when it doesn’t
🔑 How to choose the right repayment frequency for your situation