47. How Do I Manage Rising Mortgage Rates?

With interest rates on the rise, many of you are feeling the pinch - especially those with a mortgage! So, what steps can you take to help deal with the extra interest payments? Tune in to see what you can do to cut costs and give yourself more flexibility in the short term.

In this episode we cover:

• Why extending your mortgage may be an option for you to consider, especially if you are well into your mortgage term
• The pros and cons of having a fixed rate vs a floating rate mortgage and how you can take advantage of each option
• Why paying interest only on your mortgage could be an option to consider to help you with flexibility in the short term
• Who you can go to for financial planning support i.e, your bank, friends and family, and community resources.

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Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.

Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz