Aaron WhybrowGeneral Manager, Strategic Mortgage Broker

DF Rant Debt Consolidation

Name: DF Rant Debt Consolidation
Uploaded: 2018-11-28T00:18:45Z
Channel: Aaron Whybrow
Description: Aaron Whybrow explains when debt consolidation makes sense and when it doesn't. It works if you have multiple debts and want to simplify or free up cash…

28 Nov 2018

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Aaron Whybrow explains when debt consolidation makes sense and when it doesn't. It works if you have multiple debts and want to simplify or free up cash for investing, but combining a home loan and car loan might not help. The key is whether consolidation actually serves your goals.

Multiple Repayments versus Single repayments hey, it's Aaron and I'm on location at the moment. I've come to an appointment just slightly early, so I'm having a little bit of a relax in the car. Debt consolidation is a very important part of some people's lives in regards to getting their financials back on track. Just debt consolidation without a reason is not really a good reason to go forward. Is it that you're trying to put your budget back on track? Is it that you're trying to get to the point where you can buy an investment property, develop your wealth, or just get out of debt and have flexibility of putting extra money on and not have been badgered by another bill after another bill after another bill? Debt consolidation is great. It can work really well. But I've been talking to clients that have multiple, multiple debts and in their cases it's a good thing to do. And in some cases, if you've just got a home loan and a car loan, it may not be the best thing for your strategy. If this resonates with you, comment below, share it out and let me know what you think. Bye for now.