Just leaving this here - backing up my earlier points- do with it as you may. Short and succinct article and none of that long winded garbage most seem to be spewing out.
Extract
"And yet, one of the best investments homeowners can make is to use any additional money they have available to shorten the repayment period of existing debts, and especially their home loans." The reason is that the amount of interest you will save by paying your home loan off early will in most cases far outweigh the returns you could hope to make by putting your savings in the bank.
What is more, these returns will be entirely tax free, and if you have an access bond your money will be easily available if you should need it in an emergency.
How to use your bond for bigger savings
myhome.24.com
Extract
"And yet, one of the best investments homeowners can make is to use any additional money they have available to shorten the repayment period of existing debts, and especially their home loans." The reason is that the amount of interest you will save by paying your home loan off early will in most cases far outweigh the returns you could hope to make by putting your savings in the bank.
What is more, these returns will be entirely tax free, and if you have an access bond your money will be easily available if you should need it in an emergency.