EP:29 HECS Debt Explained for Property Investors

HECS Debt.<br/><br/>Alot of us have one, but do you actually know how much you pay every year, how it affects your borrowing capacity and how the banks see it?<br/><br/>Today's chat comes after a series of polls from our online audience revealed only 24-40% of viewers knew the correct answer regarding their HECS Debt. In todays episode, we discuss:<br/>- What is HECS debt, why do we have it and what it stands for<br/>- The criteria for having to pay it back<br/>- How much HECS you pay compared to your salary (as a % and $)<br/>- What is indexation, how it is applied and how it affects you<br/>- The 11 month rule<br/>- How much your HECS debt AFFECTS your borrowing capacity!!!!!!! (Hint - it's more than the HECS debt amount)<br/>- Rule of thumb to calculate how much its affecting how much you can borrow<br/>- I share my thoughts around what to consider before you pay it off<br/>- Plus much more!<br/><br/>Don't forget to check out the summary post on our Instagram.<br/><br/>We just launched Youtube!<br/>YOUTUBE: https://www.youtube.com/@everythingproperty_au<br/><br/>Facebook: facebook.com/everythingproperty.au<br/>Instagram: www.instagram.com/everythingproperty<br/>LinkedIn: linkedin.com/everythingproperty<br/>Website (Coming soon)<br/><br/>Disclaimer: This episode is not financial advice.