Jenny Liu in Canley Heights | Local service

Jenny Liu

Locality: Canley Heights

Phone: +61 433 100 640

Address: 231 Canley Vale Road Canley Heights 2166 Canley Heights, NSW, Australia

Website: http://www.injoyfinance.com.au

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17.01.2022 This week we are celebrating Global Money Week. In association with the Mortgage and Finance Association of Australia (MFAA) and partnering with Harrington Street Primary School NSW we are out educating students on the basics of Financial Literacy. 305 students across 12 classes. Investing in their future!

09.01.2022 The RBA has opted to leave the official cash rate on hold at 1.5%. At its board meeting today the Reserve Bank of Australia decided to leave the official cash rate unchanged. As widely predicted, the RBA has kept rates on hold as it continues to work in unison with the regulators to stem concerns around the growth of the Sydney and Melbourne property markets.... Assisting the RBA not to make the call to increase rates was the out of cycle rate increases we have seen from lenders over the last week. In many ways these have done the RBA’s job for the moment. Also weighing on the RBA’s decision not to move rates higher was the continued uncomfortably high unemployment rate and the fact inflation remains within its target range. If you'd like to have a chat about what today's news means for you and your finances, please don't hesitate to get in touch.

06.01.2022 We are delighted to take part in getting our promos into 600 parcel bags for Beauty & the Beast screening tonight at Hotys Wetherill Park - Girls Night Out.

03.01.2022 Hope everyone has had a great start to the year. Can't believe we are already in February! Now lets talk Finance. What Do I Need To Know About Debt Consolidation? Not to confuse it with debt elimination. If you’re swamped with credit card debt and personal loans, it can sometimes help to talk to a professional about debt consolidation. However, you need to be wary. You might end up paying more in the long term and/or reduce the equity in your home.... What is debt consolidation? Debt consolidation is where you transfer your credit card debt and any personal loans to your mortgage. The advantage of doing this is that the interest rate on your home loan is likely to be lower than you’re paying on your smaller debts. You might also benefit from a regular manageable repayment. However, there are some things you need to be aware of. Debt consolidation is not debt elimination Since debt consolidation clears the debt from your credit cards, the temptation is to think that you’ve paid off the debt. But you haven’t. You’ve merely transferred the debt to your mortgage. So, once you’ve consolidated your debts, consider snipping your credit cards in two. Otherwise, you could get trapped in a debt spiral. Remember the 80% LVR threshold When you took out your mortgage, you might have been under the 80% loan to value ratio, which meant that you didn’t have to pay lenders mortgage insurance. Be careful when you consolidate your debts that you don’t reduce the equity in your home and have to pay lenders mortgage insurance. Personal loans aren’t tax deductible Interest charges on an investment loan are tax-deductible but interest on a home loan isn’t. When you consolidate your debts, you need to be mindful of how much interest you can claim as a tax deduction. Seek advice from a tax agent before making a decision in this area. To learn more about debt consolidation, contact us today. See more