Debt can be intimidating and managing it can be a daunting task for many of us, but it doesn’t mean getting it under control is impossible. Debt management can make your financial life much easier by limiting the impact that debt has on your cash flow, therefore, making it an imperative part of the wealth creation journey.
We’ll help you gain a clearer understanding of debt, and provide practical methods you can implement to make progress on paying down debt as well as avoiding common consumer pitfalls. We’ll also step away from the usual gloom and doom perspective on debt and discuss how you can leverage debt to your advantage and utilize it to accelerate wealth creation with careful planning.
Be sure to listen in on this episode to learn the best steps you can make towards debt as a consumer and investor!
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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 and Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorised representatives and credit representatives of AMP Financial Planning – AFSL 232706
Episode Highlights:
• The difference between good debt and bad debt.
• The best ways to manage and get out of consumer debt.
• Debt avalanche or debt snowball strategies.
• Debt consolidation strategies.
• Owner occupied & investment debt.
• Utilizing the power of debt for wealth creation purposes.
