Debt isn’t necessarily a bad thing. We often need to borrow money to buy large assets such as a home or other investments. These can be positive for your financial wellbeing as it will benefit you long into the future.
However, you also need to ensure you manage your debt and stay on top of your repayments such as prioritising your debt repayments.
If you use a margin loan for investment purposes, make sure you have a sufficiently large buffer to guard against a margin call and access to cash if you should receive a margin call.
If you would like more information on debt management, please download the free White Paper. If you would like advice on the best debt management strategies for your particular situation, contact Prudentia Financial Planning today for a free initial consultation.
Prudentia Financial Planning Pty Ltd is a Corporate Authorised Representative (No. 400165) of MyPlanner Professional Services Pty Ltd AFSL 425542
Financial Advice Sydney and the North Shore Office based in Gordon NSW