Few people get anywhere in life without judicious use of debt. How many Australians could afford to buy their family home, for example, without taking out a home loan at least once?
But not all debt is the same. The wrong kind of debt can have the exact opposite effect and work like a millstone around your neck. That is why it is important that you only borrow to buy quality assets – and also why you should structure your debt so as to minimize the after-tax expense.
The same thing applies when it comes to the price of debt – otherwise known as the interest rate. Minimising the interest paid – even by just a few basis points – can make a large impact on your longer-term wealth.
It is not just the ‘big-ticket debt’ that needs to be considered, either. There might be ‘smaller’ debt, such as a credit card, a car or personal loan or even a student debt. All of these can benefit from effective management that complements everything else that you are doing with your finances.
We can assist you to manage all existing debts, as well as help you access competitive ways to establish any new debt. We also help with refinancing, consolidations and transfers of debt.
Our referral partner for this service is One stone finance.