Welcome back to another episode of the 360 Money Matters Podcast!
In this episode, we discuss debt recycling strategies. Debt recycling involves converting your debt from ‘bad’ debt (non tax deductible) to ‘good’ debt (tax deductible). This strategy can help put more money in your pocket as opposed to paying it to the tax office and additionally will result in paying off your home loan faster.
This is a more complex strategy however and hence should only be used if it is aligned to your wealth creation plan and circumstances. Listen to this episode to learn more about the benefits of debt recycling, and discover if it’s the right strategy for you.
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This podcast 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. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights
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Non deductible owner occupied debt
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Basics of a debt recycling strategy
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Who is this strategy best suited for
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Takeaways for debt recycling strategy
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Risks associated with debt recycling strategy
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Considering if you have adequate risk mitigation strategy
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Utilizing some of the benefits of a debt recycling strategy
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Other ways to utilize this strategy
