Debt Reduction Strategies
Maintaining effective control over your debts, and paying them out as soon as possible, is a critical factor in achieving financial success
One of the major elements of any Wealth Creation plan is the reduction of private debt (bad debt) as quickly as possible in order to beat the banks by reducing your interest payments to them.
Good debt vs bad debt
The key difference between good debt and bad debt is that good debt can be used to purchase assets that produce additional income, whilst bad debt does not.
Bad debt works against achieving your financial success, rather than for it, and is generally non tax-deductible.
Good debt can be beneficial in helping us to achieve our goals.
Consolidate bad debt
We will work with you to consolidate all your bad debt (your home loan, credit cards, etc.) into one loan. This is a highly valuable process that means you save interest on your existing debts. Then we will show you how to “fast track” paying out all bad debt, freeing up money to live the life you want.
We are here to help
We make it easy for you to get started with a plan to secure your financial future. We also help to monitor your progress monthly, which helps motivate you and keep you on track for success.
HM has helped us generate passive income, lower our debt and made us aware of what we spend.
– Cassandra R, Albany Creek