Debt consolidation is when you bundle multiple debts – such as a car loan, personal loan, credit cards or store cards – into a single loan or credit card.
Why consolidate your debt?
- Save money – by bundling multiple debts you can choose the single loan or credit card with an overall lower interest rate and end up paying less interest.
- Save time – consolidating your debt can make it easier to manage repayments as you may only have to make one monthly repayment and deal with one lender, rather than many.
- Make it work for you – you can tailor the terms of your consolidated debt repayment to suit your cash flow.
Debt consolidation is often used in conjunction with budgeting and cash flow planning.
Setting clear, measurable goals is critical to financial success.
By taking the time to determine what is important to you, what you want to achieve and what is not relevant, you can map out a path to get you where you want to be both financially and personally.
When you meet with us, we will guide you through the goal setting process. While it can seem challenging, working out your goals and how you will achieve them is one of the most rewarding parts of our meeting.
Goal setting can also be very powerful when used correctly with proven cash flow and budgeting techniques.