WIND BACK YOUR DEBT CLOCK!

calendar September 21 2015

Globally, all governments are trying to “wind back the debt clock”.

Reducing debt requires a sensible plan, commitment to the outcome and a lot of hard work. Governments are just like individuals or businesses, they need to be careful not to over commit to debt. It has to be serviced from sustainable net income; otherwise, as is the case with Greece there may be a need to borrow more just to pay the interest. This can be the start of a downward spiral as debt grows and grows.

According to the Australian Debt Clock website, total federal government debt currently stands at $422 billion dollars, which is approximately $17,600 owed by every Australian citizen. By comparison, United States debt per citizen is nearly $81,666 (Australian Dollars). That’s all citizens, not just the taxpayers who provide the cash to service the debt. Unless its managed, rather than reduced, the debt grows daily!

How can you, your family or business wind back the debt clock?

If you are experiencing trouble meeting monthly commitments, have too many commitments or just want to review your situation, we may be able to help you.

There are ways to reduce your monthly commitments by firstly understanding your cash inflow and outflow and then looking for ways bring debt to a manageable level, particularly with expensive credit card debt. The end result is piece of mind and ability to spend more money on the fun things or even better, possibly invest to grow income and increase wealth.

Get and touch for an obligation free discussion so that we help you find the right solution for you.

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