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  #1  
Old 05-30-2012, 04:01 PM
Jeanette Brox Jeanette Brox is offline
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Default Financial planning - debt management

Having debt is not necessarily bad as long as you treat it with respect it will increase your credit score which is a definite must if you plan on making a large loan to invest in a vehicle or a house. It is possible to get carried away and sometimes due to unforeseen circumstances people need proper debt management to get them out of a potentially sticky situation. Admit that you are financially inept and seeking professional debt management from a financial planner is the first step towards stability. Here are five tips to keep in mind when attempting to improve your financial situation:
Cut down expenses this does not necessarily mean no more restaurant nights (treat yourself but be financially conscious). Cut down on the amount of interest you are paying by prioritizing the high interest loans first by doing this you will save on the amount of expenses you dish out every month.
Pay more try and put more than the minimum amount of money required towards your debt this will help you immensely overtime as you want to get rid of the debt as quick as possible.
Cut the credit if you have a problem keeping up with payments you should not buy on credit at all.
Scheduled payments if your income schedule does not link up with your payment schedule, see if you can change the payments to suit your income structure. People tend to fall behind on payments due to lack of financial discipline towards the end of the month.
Ask the pros a certified financial planner will give you a better perspective on how to manage your debt this not only helps you follow the most efficient route but also gives you some piece of mind.
If you are seeking financial planning services or more information towards financial planning and debt management, contact me today!
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  #2  
Old 05-31-2012, 01:14 PM
littleroc littleroc is offline
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Default Re: Financial planning - debt management

Vehicles are not investments, they are depreciating assets. Homes can be good investments.
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  #3  
Old 09-08-2012, 01:51 AM
Fredy Atwater Fredy Atwater is offline
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Default Re: Financial planning - debt management

Vehicles are investments if we buy cars under market value and then sell at a higher price.
And your'e right Littleroc we are not car dealers.
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Old 09-24-2012, 02:30 AM
AlbertDisuza AlbertDisuza is offline
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Default Re: Financial planning - debt management

Yes you are right. In my opinion real estate is one of the most profitable investments that one can make because the prices are increasing at very high rate. The property which is suppose of 10 lakhs today would be a minimum of 22 lakhs in the next five years. But the prices also depend on the location and distance from the essential amenities.
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Old 10-30-2012, 05:33 AM
SMSF101 SMSF101 is offline
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Default Re: Financial planning - debt management

Quote:
Originally Posted by Jeanette Brox View Post
Having debt is not necessarily bad as long as you treat it with respect it will increase your credit score...
I agree with you... and thanks for the pointers

Quote:
Originally Posted by Jeanette Brox View Post
Cut down expenses
Pay more
Cut the credit
Scheduled payments
Ask the pros
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  #6  
Old 11-15-2012, 01:57 AM
johnny123 johnny123 is offline
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Default Re: Financial planning - debt management

Yes, debt management is an important part of our life. You need to manage debt in a proper manner otherwise it may lead you into unforseen circumstances.
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  #7  
Old 11-24-2012, 05:49 PM
polly_12 polly_12 is offline
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Default Re: Financial planning - debt management

Even if a person doesn't have a debt today, it is still best that he/she finds time to learn more about financial planning. I know a lot of people who are like a " one day millionaire " because they can't balance their expenditures. Sometimes those who doesn't have enough money are the ones who spends a lot
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  #8  
Old 11-28-2012, 12:27 PM
AlbertDisuza11 AlbertDisuza11 is offline
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Default Re: Financial planning - debt management

Quote:
Originally Posted by polly_12 View Post
Even if a person doesn't have a debt today, it is still best that he/she finds time to learn more about financial planning. I know a lot of people who are like a " one day millionaire " because they can't balance their expenditures. Sometimes those who doesn't have enough money are the ones who spends a lot
I agree. Managing your money is as important as earning it is. If one does not know the art of saving it then it earning it is of no use. That is why financial planning is one of the leading professions all over the world.
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  #9  
Old 11-29-2012, 09:17 PM
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thesimplemoneyblog thesimplemoneyblog is offline
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Default Re: Financial planning - debt management

Quote:
Originally Posted by Jeanette Brox View Post
Cut the credit if you have a problem keeping up with payments you should not buy on credit at all.
I think cutting the credit is the best advice for long-term success if you have trouble overextending yourself. Our grandparent's used to purchase everything with cash (cars, furniture, etc.), so why not bring cash back in style?
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Old 01-24-2013, 05:01 AM
Vibhor Vibhor is offline
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Default Re: Financial planning - debt management

Vehicles are not investments, they are depreciating assets. Homes can be good investment
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  #11  
Old 02-03-2013, 12:09 AM
fsna.hartley fsna.hartley is offline
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Default Re: Financial planning - debt management

Quote:
Originally Posted by littleroc View Post
Vehicles are not investments, they are depreciating assets. Homes can be good investments.
I agree. If these cars are limited edition, it can be an asset. But I'd rather invest in real estate than buy a car (not the limited edition of course).
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Old 02-07-2013, 06:08 AM
Donovan Donovan is offline
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Default Re: Financial planning - debt management

I agree. Managing your money is as important as earning it is. I found the debt management service and I'm using it
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Old 02-09-2013, 04:47 PM
peter_ottawa peter_ottawa is offline
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Default Re: Financial planning - debt management

There is not ONE vehicle that I purchased and later resold for a profit. However, I've owned a few homes now and I'm proud to say I was able to make low $xx,xxx on each home I sold. It really depends on the market right, but even with buying a home, things can change very quickly and you could lose money on your home just as easily as you would on a vehicle.

Be careful and smart about your purchases. Do your research!
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  #14  
Old 06-20-2014, 01:57 PM
fifo capital fifo capital is offline
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Default Re: Financial planning - debt management

Everyone with even a little bit of debt has to manage their debt. If you just have a little debt, you have to keep up your payments and make sure it doesn't get out of control. Make a list of your debts, including the creditor, total amount of the debt, monthly payment, and due date.Update your list every few months as the amount of your debt changes.
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  #15  
Old 11-15-2014, 07:32 AM
Dale09 Dale09 is offline
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Default Re: Financial planning - debt management

Even when someone doesn't have some sort of debt right now, it truly is even now finest in which he/she confirms period to learn more in relation to financial plan. I am aware a lot of people who are just like a inch one day uniform inch since they are unable to equilibrium their costs. From time to time people who doesn't have enough money will be the people that spends a good deal.
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