Good debt, Bad debt
Most of us have some form of debt either for our home, investments and credit facility. It is only the fortunate few that have the luxury of no debts at all.
Unfortunately many Australians don’t have control of their debt levels and the only time it is considered is when it is usually too late or too high. Currently most Australians live beyond their earning capacity as they want everything today, with the attitude of “She'll be Right”.
The ideal situation is if only one third of your income is utilised to personal debt, this does not happen too often these days. The most important priority and one of your best investment decisions should be to get rid of personal debt (Bad debt or non-deductible debt) i.e. your home loan, Credit card etc.
Being debt free or with controllable debt allows you the opportunity to re- direct surplus income to wealth creating
We can help you create a discipline to implement and calculate a time frame to be debt free with the use of the appropriate strategies available to you.
Management of Good debt (investment debt- tax deductible) is also very important. Before you get caught up in the hype of borrowing to invest seek financial advice specific to your personal circumstances and income, not some generic outcome that is always advertised as being the best investment opportunity.
At CDN Financial Services we can show you the structures and best options available to your personal situation, to enable the best outcome for you.
Contact us to organise an obligation free first appointment to explore the opportunities available to you.