Debt consolidation
I had a discussion with my hubby last 2 days regarding our 2008 financial outlook..Hahhaha…my friends would say that i am paranoid but it is rather improtant as Abby would incur additional expenses to our household as she grows older and Malaysia’s inflation is rising incredibly(although certain parties would deny) which is reflected in essential goods prices escalating…:(
Bills…bills…bills….We have a local debt advisory board which could offer more creative solution but i guess it would take years…..In the States,my cousing via e-mail mentioned that debt consolidation is a taken seriously by many and the offers and options available really saves you the MONEY!!!
Debt consolidation agencies will help to calculate your debt and provide an outlook on how to consolidate the loans,creadit cards and other outstanding debts ….they normally provide debt settlement proposals which means you save on interest paid.
These debt consolidation loan offered means you take a loan of an amount to cover all your outstanding loan at a much much lower or reduced interest rate……I personally like this idea as the money saved can be invested in your childrens trust funds or even for pension funds.
Lucky for me,My hubby who is a financial planner would have to figure this out….for us…i know it is not an easy task for any couples to sit and really get down to it.But at the end of the day;it IS IMPORTANT to plan and execute…wise financial planning-they call it:)
I guess it would mean we should find how my hubby and i can consolidate our debts in a more efficient way to save on interest rates and benefit from money which can actually be saved! and utilise in a smarter and more effective way!:) Which can generate more money!”)