Three ways you can make your money work harder for you

Three ways you can make your money work harder for you

We explore how you can use your home loan to have your money multi-task for you.

In today’s increasingly busy world, multi-tasking is sometimes a necessity. When it comes to your home loan, it can payoff to look at ways your money can multi-task for you too.

Here are three ways you may be able to make your money multi-task for you:

  1. 1
    Use your existing funds to reduce the amount you owe

    Any home loan that is eligible for an offset facility gives you the option of potentially reducing the amount of interest you pay by allowing you to deposit money into an account linked to your loan. The money in that account then works to help offset your overall home loan balance.

    The great part is that you also get the flexibility of being able to access that money when you need it.

  2. 2
    Link multiple accounts to your home loan

    If your home loan is eligible for an Everyday Offset, you also have the option of linking your home loan to multiple accounts in the same names as your linked home loan. This means you can continue to do your banking the way you normally would, but with the added benefit that the money in all of those accounts is working to offset the balance of your loan.

    For example, you could set up one account to save for a holiday, another for paying bills, and a third as a daily transaction account and have all three accounts linked to the same home loan, helping you reduce the overall amount of interest you pay on that loan.

  3. 3
    Keep track of spending, simply

    A great way to help reduce the time it takes to manage your finances and budgeting is to make the most of the tools that are already available.

    Tools that automatically group your transactions into categories like groceries, rent and fuel, can help you manage your money more easily. Our My Spend  feature in NetBank is one tool that can help you categorise your spending.

    If you need to get on top of your budget planning in the lead up to end of financial year, you can also take a look at our Budget Planner to help you work out your budget plan.

    With tax time coming up, another tool you can make the most of is to flag your tax-related expenses in NetBank using TaxView.That way you will be able to easily access all of your tax-related transactions for the financial year when tax time rolls around.

Speak to a Home Lending Specialist today to find out how to make your money work harder for you.


This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product or taxation advice. Everyday Offset is a feature of our Complete Access Transaction Account which is linked to an eligible home loan, and accountholder/s must also be accountholders of the linked home loan. Interest is not charged on that part of the Home Loan balance equal to the balance of the Complete Access account. Transaction Account terms and conditions are available from and should be considered before making any decision. Availability of flexible offset features depends on loan type. Applications for finance are subject to credit approval. Fees and charges may apply. Full terms and conditions will be included in our loan offer. Commonwealth Bank of Australia ABN 48 123 123 124.