Never Lose a Penny

Maintaining our lifestyles depends upon a number of factors.

The first, and definitely the most significant is unfortunately something that Never Lose a Penny cannot help with, which is your own job security and advancement. However, the are absolutely some things that Never Lose a Penny can help with to help you make sure you make the ‘best use out of your income and capital’.

It is essential that we all protect our income with the right levels of:

o Life Assurance
o Health Insurance

These protection policies help you to replace your income in the event of unexpected death, accident or prolonged sickness.

However, it is the items on which we choose to spend our income that impact the most on how well we maximise our ‘lifestyle’.

o Mortgages
o Loans
o Credit Cards
o Home Contents Insurance
o Buildings Insurance
o Car Insurance
o Travel Insurance

The most significant of which is our mortgage.

The kind of mortgage you choose to have can make a significant difference to how much it costs you to repay your loan.

Select each of the following to understand the advantages and disadvantage of each kind of mortgage:

o Capital Repayment Mortgage
o Interest Only Mortgage

Each of the above mortgages can operate in any one of the following ways:

o Normal Variable Rate Mortgages
o Fixed Rate Mortgages
o Discounted Rate Mortgages

Use the following link to compare the cost of your current mortgage with the best rates available for other mortgages.