Debt Management

There is an old saying that the borrower is the servant of the lender. This can be true when debt payments affect your ability to pay for your daily needs. However, debt can also be used as a tool to balance financial priorities.
Before taking on any debt, it is important to have a clear understanding of why you’re doing it, how much that debt will ultimately cost, possible opportunity costs that may exist and what you’ll do if your plan doesn’t work out. If you are working to reduce existing debt, focus on eliminating your most expensive debt first. A qualified financial advisor can guide you on various strategies to manage, and eliminate, unwanted debt.