With rising mortgage rates and inflation, every bit helps

Have you recently noticed you are spending more on groceries, petrol, and general day to day living expenses? You are not alone. The Australian economy is facing rising inflation and all goods and services are becoming more expensive.

The Consumer Price Index (CPI) increased by 5.1% from March 2021 to March 2022. With the country’s economic outlook remaining stagnant, the Reserve Bank of Australia has put into force the biggest increase in the cash rate we have seen in 22 years.

With the cash rate now sitting at 1.35%, if you have a mortgage, your repayments will likely be increasing soon.

Let’s break it down. The average Aussie has a variable mortgage interest rate of 2.6% and a property mortgage sum of $600,000. A P+I (Principal + Interest) repayment plan over 30 years means your repayments are $2,403 per month.

With the current cash rate hike, banks will be quick to follow suit, increasing your interest rates by the same (if not more). To put it into perspective, a 2.6% interest rate will increase by 1.25% to 3.85%. This means your repayments are $2,813, so you will have to pay an extra $410 per month.

Helping you find more funds to supplement the rising cost of living and higher interest rates

Did you know that you might have lost assets of which you aren’t even aware?

It is common for shareholders to lose track of their stocks and holdings. This can happen when you move house and forget to update your details with your bank or investment company, or when you go overseas and forget to inform them you have moved. If a person passes away, their family members may not know what they own, so they are unable to receive the money owed to them.

Investafind can help you find your lost shares.
In Australia alone, an estimated $1.1 billion in unclaimed assets is on the books at the Australian Securities & Investments Commission (ASIC). Data from ASIC has shown that more than 150,000 small investors have forgotten about $451 million worth of shares.

With Investafind, you can find those unclaimed shares and put the money back into your pocket.

When we locate people who have lost holdings owing to them, our clients have the option to sell all their shares or keep them.

At the time of publication, the share market was volatile; however, 98% of our clients were still cashing out their shares. The choice is up to you.

We provide a form during the process where you can select to cash out the old holding or keep it. If you decide to keep the shareholding, we sell a portion of the shares to cover our fees and then hand the shareholding back to you to manage yourself and sell at a later date (if you wish) – the choice is yours.

Now is the perfect time to capitalise and claim back that extra income. Take action today.