Debt Management

Debt is a necessary aspect of modern life.
Managing it efficiently is critical.
Too much debt – or too little income to support the repayments – will destroy people, companies and countries. Look at Europe and the GFC.

Reducing debt quickly is a desireable step as part of an overall pre – retirement strategy.  Consolidating loans and refinancing can be a key stepping stone to building wealth.

This is where I can give you a good guide as to a suitable approach and steps to assist with eliminating debt, as part of the pre-retirement management of wealth, superannuation and other assets.

An examinaition of the houshold cash flow may show areas that can be improved and with a refinanced set of loans and a set reduction program can save money in the long term, which can be invested more effectively.

Mortgages, personal loans and credit cards should be reviewed. Perhaps some insurances could be switched to a lower cost provider and the savings channelled into a lower cost refinanced debt package.  Additionally, for those people with old insurances the total value may have risen with CPI indexation, but the current level of insurance may be not be required. A partial reduction of the amount would also allow more funds channelled to debt reduction.

Identifying suitable alternative insurers and alternative lenders can be a key step in the process in steps to manage debt reduction, as well as looking at cutting spending in areas that are not essential.