A hypothetical scenario of how a person could better spend their money if they were not so dependant on telecommunications, or if the telecoms were not as expensive.
My monthly contribution to Telkom/Isp for ADSL is +-R800pm at he moment. My total Telkom account is almost double that every month but lets just deal with the ADSL section.
Using the above figure of R800 for ADSL (which may or may not be average, dunno) on a bog standard home loan of R800 000 at the current prime rate, you could save yourself R300 000 in interest and shorten your bond term by 4years and 8 months if you just paid the R800 smackers to the bank instead of Telkom/Isp.
Screens from a local banks bond calculators.
http://img384.imageshack.us/img384/6166/loan3ls.jpg
Is this correct or am I missing something else that is not included in this scenario?
My monthly contribution to Telkom/Isp for ADSL is +-R800pm at he moment. My total Telkom account is almost double that every month but lets just deal with the ADSL section.
Using the above figure of R800 for ADSL (which may or may not be average, dunno) on a bog standard home loan of R800 000 at the current prime rate, you could save yourself R300 000 in interest and shorten your bond term by 4years and 8 months if you just paid the R800 smackers to the bank instead of Telkom/Isp.
Screens from a local banks bond calculators.
http://img384.imageshack.us/img384/6166/loan3ls.jpg
Is this correct or am I missing something else that is not included in this scenario?
