J-lou wrote:
If your worried about spending the balance, why don't you divert what currently goes into Acct 2 into a seperate account, and leave acct 1 and 3 in your offset? That way you won't be tempted to spend your savings on luxuries, and still have the majority of your income offsetting your mortgage.
Jess
Hi Jess, thanks for the fast reply.
I did think of doing that but I thought the idea was to keep as much money in your offsett account as possible.
Not sure of the sums, but would diverting $350 per week into just a "spendings" account affect my monthly repayments given that intrest is calculated daily? I'm not necessarilry going to spend all that much each week, some of it might be saving up for a new pair of shoes, weekend away etc.
Thanks
