After the long, cold winter days, the warming of spring has always been a time for throwing out rubbish and general tidying up. As Aussie founder and executive chairman John Symond says, many people’s personal finances could do with some spring cleaning, too.

Mr. Symond points out that Australian interest rates are at historic lows and more likely to rise than fall further, making this an appropriate time for refinancing old, high-interest loans of all calibers. It’s a time for examining debt with an eye to reducing it, restructuring loans, purchasing property, life insurance, or other financial products, and making certain each person is well positioned to take advantage of the next cyclical investment boom.

Mortgages and real estate loans in particular could do with some spring cleaning, and Mr. Symond encourages homeowners to examine their financial situations and find the most appropriate means of reducing their current debt, be it extra principal payments, fortnightly payments, or stripping away unneeded extras such as a redraw facility.

“It would be criminal for homeowners to be missing out,” Mr. Symond said, again urging homeowners to act now and ensure they have the best loan for their situation.

Source: Yahoo Finance: Time to spring clean your finances