

EP:29 - HECS Debt Explained for Property Investors
HECS Debt.
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?
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:
- What is HECS debt, why do we have it and what it stands for
- The criteria for having to pay it back
- How much HECS you pay compared to your salary (as a % and $)
- What is indexation, how it is applied and how it affects you
- The 11 month rule
- How much your HECS debt AFFECTS your borrowing capacity!!!!!!! (Hint - it's more than the HECS debt amount)
- Rule of thumb to calculate how much its affecting how much you can borrow
- I share my thoughts around what to consider before you pay it off
- Plus much more!
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Disclaimer: The topics, conversation, opinions and discussion provided in this episode are general in nature. As a listener you should not take or use the information discussed as financial advice. Everything Property and its associates recommend that you always engage in independent financial advice before making any investment or purchasing decision.