Debt Management in Oakleigh

Looking for Debt Management services in Oakleigh?

Look no further than Mint Financial Solutions. We offer straightforward accounting, taxation, and bookkeeping services that will you make smart decisions with your money. We are experts in our field, and take the time to understand your needs, constraints, and values so you can achieve financial security.

  • Setting Up Good Debt

  • Debt Consolidation

  • Cash Flow Management

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Debt Management Services Oakliegh

We have tried-and-true ways to pay off debt faster. We'll work with you to consolidate your existing debts and restructure them so they're easier to handle. We'll also help you make a budget that lets you get control of your debt while still living the way you do now.

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Good Debt

Good debt lets you buy assets that will go up in value. The interest on the loan is often tax-deductible, and you can use the income from the asset to pay off the debt. Some examples are investing in real estate, stocks, and managed funds.

Bad Debt

Bad debt is debt that is used to buy goods, services, or assets that can't make any money and/or lose value. The interest on the loan isn't tax-deductible, and the asset doesn't bring in enough money to pay off the debt. Some examples are credit card debt (if it's not paid off during the interest-free period), personal loans to buy cars, and some home loans.

Wealth Creation With Mint Financial

Good debt is one of the best ways to start putting your money to work and making passive streams of income that will help you build real wealth. Mint Financial has many ways to deal with debt and make money that can help you reach your goals faster.

Positive Debt Management

Putting the power of positive debt to use There are a number of things you can do to get your personal finances in a place where you can start to use debt to your advantage and build wealth.

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Debt Consolidation

Multiple loans will cost you more in interest and fees than necessary. Raising your mortgage can be beneficial if you use the extra money to pay down unproductive debt, such as credit card bills and personal loans. Your mortgage payments will stay the same, but you'll use the lower interest rate to pay off other debt.

Making your Savings Work Harder

Many people prefer to maintain money in a cash savings account as a ‘emergency' fund or ‘buffer'. This money is better stored in a ‘offset' account linked to your mortgage. You'll increase your after-tax return and shorten your mortgage term without locking up funds.

Better Cash-flow Management

Cash-flow management reduces bad debt. The goal is to lower interest payments by raising mortgage payments, increasing the amount paid, paying your entire paycheck into an offset account, or using an interest-free period on a credit card to pay for daily costs (freeing up additional funds for paying off your house loan).

Borrowing to Create Wealth

After reducing bad debt, create positive debt. "Gearing" describes this. If you invest effectively and your assets develop in value, gearing helps you create wealth since investment income (and capital growth) pays off the debt and surpasses debt-service costs. Property or stocks are good investments. Borrow against your home's equity, take out a margin loan, or participate in a managed share fund.

Debt Recycling

As you pay off your home loan, you can use the equity to invest in shares or other property, turning bad debt into good debt that can be used to pay back the loan and provide tax savings. Any extra money can be put towards your mortgage to reduce interest costs.

Invest in a Managed Share Fund

A managed share fund is 'internally geared,' so you don't need an investment loan but can still profit from borrowing to invest. The fund management borrows at wholesale rates to invest in foreign or local share markets.

Invest with confidence

You've worked hard to build your wealth, so when it's time to look at your long-term plans, think about new investments, or manage your portfolio, you want an expert by your side who can recognise and evaluate all risks, understand how complicated the market is, and give you advice that fits your financial goals.

Any investor can find it hard to make sense of the increasingly unstable markets and the constant noise made by the media. It is important to get advice from professionals in the field. Mint Financial is here to help you deal with uncertainty, market speculation, and feel confident in your investments.

Mint Financial Solutions FAQ

What is debt management?
Debt management is a way to get your debt under control through financial planning and budgeting. The goal of a debt management plan is to use these strategies to help you lower your current debt and move toward eliminating it completely.
How is debt management important to a company?
It is aimed at providing relief to creditors to the extent that the unwanted stress that had built up is reduced or removed. In a way, debt management is the method of creating elbow room for business finance that makes maneuvering of finances quite easy without affecting the business operations
Why is debt management important?
The analysis and management of a country's debt portfolio are critical not only for maintaining macroeconomic stability. They also mobilize long-term resources for the country's development and help create the building blocks for a domestic money market.

We'll Secure Your Future Without Sacrificing Your Present By Helping You Plan & Achieve Your Financial Goals

Strategic financial planners that understand what is important to you, and guide getting you to where you want to be. Paying off debt, buying a house, starting a family? or a dream retirement? We can help get you there. Book your free appointment!

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