Debt recycling is the process of replacing mortgage debt, or bad debt, with investment debt, which is known as good debt.
This strategy enables investors to start building wealth while they’re still paying off their home. As equity is built up in their home, funds are re-drawn and invested. Income from these investments can be used to further reduce the mortgage balance, while the growth component contributes to wealth accumulation.
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The opinion of many people towards debt can be best summed up in the often quoted line from Shakespeare, ‘neither a borrower nor a lender be.’ Yet others will embrace debt as one of the most important tools in their investment arsenal. Of course, successful debt management comes down to whether you control your debt or you let it control you.
Read MoreTopics: Personal Financial Planning
If there is a good chance you will receive a tax refund this year or by being thrifty you have accumulated some extra cash in your everyday account, try to contain the temptation to splurge or celebrate; instead make it work harder for you.
Here are some places you can stash some extra cash that will pay off in the long run.
Read MoreTopics: Personal Financial Planning
It is often difficult as an Owner & Manager of a Small or Medium Business to separate your business and personal life, what happens in one can easily affect the other.
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If your football team didn’t have one, they’d always be “wooden spooners”. You wouldn’t go on holiday without having one and you’d never have friends over for a barbie without one. What are we talking about? A plan, of course!
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