How much is your redraw?

[~Raven~]

ATM ours is just under $8000. Just paid rates, DH's course and a stack of other bills.

[Arimeh]

Rach - yeah its like extra money that you have - but it sits in against the money you owe so you pay less in interest payments throughout the year.

And as such - lowers the total amount of interest that you will pay over the life of your loan. And you can withdraw it at anytime.

I'm feeling so much better. Thanks guys. Thank you for telling!!

Now... just need to work on doing up a budget

[LimeSlice]

Haven't got any on a mortgage (house isnt finished yet )
But had $6000 and drew on that when I was 7.5 months pregnant and almost wrote off the car...
At the moment it is back up to just under $6000....Which if things dont improve VERY soon will get redrawn again so we can pay our rent mortgage and buy food!