Managing Your Debt

Debt is not a dirty word! It can actually help you - if it's the right kind of debt.

Things to consider

On one hand, there is good debt where you borrow to invest and your investment grows in value or earns money. Good debt actually works for you. On the other hand there is bad debt where you borrow for a car, boat or use a credit card to buy items that depreciate in value and don't earn you any money. You loose twice here - the capital value and the interest you've paid.

That's why before you start accumulating assets, it's important to check what you owe - how much, in what form and at what interest rate. Then you can see whether you can arrange your debt more efficiently.

How we can help

We can:

  • Review and analyse your current spending patterns.
  • Review your financial commitments and debts.
  • Identify your opportunities to save money.
  • Construct a budget with you.
  • Help you consolidate your debt effectively.
  • Recommend savings or investment products to achieve your goals.
  • Review, recommend and arrange appropriate insurance.
  • Look at ways of turning bad debt into good debt.

What to do next

If you want us to help you review your financial situation contact us today.

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Essex Wealth Group Pty Limited ABN 54 155 853 303 is an Authorised Representative and Credit Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 Australian Financial Services Licence 232706 and Australian Credit Licence 232706

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General Advice Warning: This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.