CANNEX Comments

"Extras cost more, so only select the extras you think you’ll need. Otherwise, you could end up paying for a service that you’ll never use. Some insurers allow you to remove certain extras from your policy in return for a reduced premium. Check with your insurer to see if they allow this." - Harry Senlitonga, CANNEX Financial Analyst.

"When it comes to car insurance, quotes can vary dramatically. Be sure to shop around for the best deal, but remember that it's also important to consider claims service. It's no good having dirt cheap insurance if the insurer is difficult to deal with when the time comes to make a claim. Ask around about other people's experiences with making claims." - Harry Senlitonga, CANNEX Analyst.

"Offset accounts allow you to effectively live off funds stored in your home loan offset account, with the benefit being that funds in this account offset interest on the home loan. But be aware, if you're not the type to ever have a spare cent in your account, this could be of little benefit to you. Since loans with an offset account typically cost more, make sure you really need it before you sign up!" - Harry Senlitonga, CANNEX Analyst.

"Comparing rewards programs is tough. Since rewards points vary in their value, how do you know you're comparing apples with apples? That's where the CANNEX star ratings come in. Let the experts crunch the numbers! We've awarded each reward program a star rating so you can quickly and easily view the best value for money rewards programs." - Frank Lopez, CANNEX Analyst.

"When you get your credit card statement, be sure to look over it. It's important to understand your spending habits if you wish to reduce your spending the following month. Identify areas where you could save money, and stick to your plan!" - Frank Lopez, CANNEX Financial Analyst.

"There are hundreds of different credit cards available in Australia, so finding the right one for you can be a challenging prospect. The most important thing to remember when you're shopping around is that the best card for you might not be the best for someone else. It all depends on your individual spending habits and finances. That's why CANNEX uses profiles to rate credit cards according to the type of spender." - Frank Lopez, CANNEX Analyst.

"If you're shopping around for a home loan, be sure to read over the terms of the loan before you sign up. Furthermore, it's important to ask questions if you don't understand anything in the fine print. Being an informed consumer means that you won't be as likely to get any nasty surprises later on." - Frank Lopez, CANNEX Analyst.

"While introductory interest rates may be appealing, you should be aware of the cost of the loan long term. There are calculators available on the CANNEX web site which can show you in a few simple steps the difference between an intro rate loan and a standard variable rate loan." - Harry Senlitonga, CANNEX Analyst.

"Experts agree that one of the best ways to pay off your home loan sooner is to make extra repayments in the early years of the loan period. Say for example you have a 30 year loan. In the first 5 years if you can make lots of extra repayments, there is generally a huge saving on interest charges. Try our lump sum repayment calculator, you'll be surprised at the savings!" - Frank Lopez, CANNEX Financial Analyst.

"A home loan with redraw simply allows you to access extra payments which you have previously made to the loan. Extra repayments are those that are above and beyond your minimum monthly repayment amount." - Frank Lopez, CANNEX Financial Analyst.