Income Streams Advice

Debt Management

Good debt management involves effectively managing your debts to maintain financial stability and achieve your financial goals. Having someone else to look at your debt and the way that is structured can give you far more ease of mind.

  • Budgeting and Planning: Are you spending too much of your income on your debt. We will look at your current expenditure and make a recommendation on how this fits into your lifestyle.
  • Debt Assessment: We evaluate your debts by looking at the terms, interest rates, and repayment schedules for each loan or credit account. Categorize of your debts based on their interest rates, balances, and urgency for repayment can reveal other options. This assessment helps you prioritize which debts to tackle first.
  • Minimize High-Interest Debt: Looking at the debts that have higher interest rates and what to do with them. Is a restructure in order and can you facilitate this.
  • Debt Repayment Strategies: Explore different debt repayment strategies to accelerate debt repayment. What debts would you like to have paid off first?
  • Negotiate with Creditors: Is looking at a different term or lender a good option for you.
  • Emergency Fund: Work towards having some extra funds in your offset fund to reduce the risk of not being able to pay your loan during hard times.
  • Taking on additional debt : Is now a good time to take on “good” debt to possibly increase your wealth. How would this fit within your budget? Is negative gearing a good strategy for you?
  • Financial Education: We look to educate our clients about debt and whether they truly understand the ramifications of holding debt.

Remember, good debt management involves discipline, proactive planning, and consistent effort. By effectively managing your debts, you can reduce financial stress, improve your creditworthiness, and work towards achieving long-term financial stability.