Why I Use Sora Finance to Help You Pay Less Interest (And Why You Should Check Your Rates, Too)
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Over the years working with clients, I’ve noticed something curious: many people work incredibly hard to save and invest, but they overlook one of the easiest ways to improve their financial picture—paying less interest on their debts.
Whether it’s a mortgage, auto loan, student loans, credit cards, or personal loans, interest costs can quietly drain money from your budget. And with rates that move up and down over time, there are often opportunities to refinance or restructure debt that people never discover because they simply don’t look.
That’s why I use Sora Finance, a platform designed to monitor your debts and alert us when better rates become available. It’s like having a financial assistant constantly checking if you could save money without the hassle of hunting for deals on your own.
Why listen to me on this topic?
I’m not here to claim I’ve worked with thousands of people or boast about credentials. What I can share is that, in my experience, some of the biggest financial wins come not just from investing smarter—but from spending less on interest. Clients are often surprised at how much they can save just by checking and managing their interest rates regularly.
Key Takeaways
Interest costs on debt can quietly eat away at your financial progress.
Sora Finance monitors your debts for better rates and refinancing opportunities.
Lowering interest rates can free up cash flow for savings, investments, or other goals.
Even small reductions in interest can lead to significant savings over time.
Proactive debt management is part of building a strong financial plan.
Why I Use Sora Finance with Clients
1. Because Interest Costs Are Often Hidden
In my experience, people focus heavily on investment returns—and that’s important. But paying 5%, 6%, or even 20% interest on debts can undo a lot of your hard work building wealth.
Consider these examples:
A credit card balance of $10,000 at 20% interest costs roughly $2,000 per year in interest alone.
A mortgage refinance dropping your rate by just 1% on a $400,000 balance could save over $200 a month.
Lowering a car loan from 8% to 5% could free up hundreds of dollars each year.
Most people never realize how much they’re spending on interest because these costs are spread out in monthly payments and buried in loan documents.
Sora Finance helps shine a light on these numbers, so you can see where you’re losing money—and how to fix it.
While Sora can’t guarantee you’ll always qualify for better rates, I’ve found that simply knowing your options is a huge financial advantage.
2. Because Interest Rates Change Over Time
One reason people miss opportunities to save is that they assume their loan rates are set in stone. But interest rates fluctuate.
I’ve seen clients who locked in high rates years ago—even on mortgages, student loans, or auto loans—when rates were much higher. Now, even with recent rate increases, some borrowers could still refinance at lower rates than they’re paying today.
Sora Finance continuously monitors the rates available in the market. If it spots an opportunity where you might save money, it flags it. That means:
You don’t have to remember to check rates yourself.
You’re less likely to leave money on the table.
You’re proactively keeping your financial plan efficient.
Of course, refinancing isn’t always the right move—it depends on costs, loan terms, and personal circumstances—but I believe it’s smart to keep your eyes open for opportunities.
3. Because Lower Interest Means Faster Financial Progress
In my experience, one of the best ways to accelerate your financial goals is simply to reduce your expenses—including interest costs.
Here’s what lower rates can mean:
Faster debt payoff timelines
Lower monthly payments, freeing up cash for savings or investments
Less stress knowing you’re not overpaying for borrowed money
Imagine paying $500 less per month because of refinancing. That could be directed toward:
Building an emergency fund
Contributing more to retirement accounts
Saving for a home down payment
Reducing other high-interest debts
Clients often tell me that these “invisible savings” feel just as rewarding as earning higher returns on investments—because they’re money back in your pocket.
It’s important to note, though, that refinancing sometimes comes with costs, so we’d always analyze whether it’s worthwhile for your specific situation.
Want to learn how to retire without the worry of running out of money in retirement? Click here to watch this video
4. Because Managing Debt Shouldn’t Be Overwhelming
Many people put off looking into their debt because it feels complicated or intimidating. They don’t want to gather statements, compare rates, or fill out paperwork.
That’s why I appreciate Sora Finance. It:
Aggregates your debts in one place
Tracks current interest rates and available offers
Sends alerts if a refinancing opportunity appears
Helps simplify the application process if you choose to refinance
In my experience, clients feel less overwhelmed when they see everything clearly organized in one dashboard. It takes the mystery and fear out of dealing with debt.
While Sora makes it easier, it’s still important to discuss your broader financial plan before making big changes. Refinancing can affect other parts of your finances, like credit scores, cash flow, or tax situations.
5. Because Financial Health is About More Than Investments
A lot of financial conversations revolve around growing your assets. But reducing your liabilities—the cost of your debts—is just as important.
I use Sora Finance because it helps ensure that clients:
Pay the lowest possible interest rates on debts
Keep more of their money working toward their goals
Feel empowered and informed about all aspects of their finances
Lowering your interest costs isn’t just about saving a few dollars. It’s about creating room in your budget for the things you care about most, whether that’s buying a home, taking a vacation, saving for retirement, or simply sleeping better at night.
From my experience, people who regularly check and optimize their interest rates often feel more in control and less stressed about money.
Conclusion
Debt is part of life for most people—but high interest rates don’t have to be. Tools like Sora Finance help us stay vigilant, so you’re not leaving money on the table or paying more than you have to.
From my perspective, proactively managing debt is one of the smartest steps you can take to build financial freedom. Whether you’re carrying a mortgage, student loans, or credit cards, reviewing your interest rates could uncover significant savings.
If you’d like to see how Sora Finance works—or just want to know if you might save money on your existing debts—I’d be happy to help you explore it.
Want to learn how to retire without the worry of running out of money in retirement? Click here to watch this video
FAQs
Q1. Is Sora Finance only for people with a lot of debt?
No. Even people with a single loan—like a mortgage—can benefit. Sora helps ensure you’re not paying more interest than necessary, regardless of how much debt you have.
Q2. Does checking rates with Sora hurt my credit score?
No. Sora uses soft credit checks for monitoring and rate shopping, which do not impact your credit score. However, formally applying for new credit or refinancing can involve a hard credit inquiry, which we’d discuss before proceeding.
Q3. Can Sora guarantee I’ll qualify for a lower rate?
No tool can guarantee approval or better terms. Sora helps identify opportunities, but your credit profile, income, and loan terms determine eligibility. That’s why we review each recommendation carefully.
Disclaimer: Case studies are hypothetical and do not relate to an actual client of Lock Wealth Management. Clients or potential clients should not interpret any part of the content as a guarantee of achieving similar results or satisfaction if they engage Lock Wealth Management for investment advisory services.