Change your mortgage

Increasing the frequency of payments from monthly to weekly or fortnightly will save on interest, provided you maintain the same total payment for the month. It is good to find out what your monthly payment is and divide this by 4 or 2 and make this your repayment. By doing this it will give you 13 months payment in the year (because every 3 months you get an extra week and every 6 months you get an extra fortnight) not 12 and you will be paying your mortgage off sooner and with less interest charged by the bank.