Like most people, you probably have a debt portfolio in addition to your investment portfolio. To make the most of your finances, you need to evaluate your debts regularly, just as you evaluate your investment performance. As we approach the final quarter of 2025, now is a good time to conduct a review to stay on track. Here are some debt management tips:
- Categorize debts into good and bad debt and assess how they align with your financial goals.
- Focus on paying off high-interest, bad debts first.
- Leverage good debt. Ensure your investments have a clear return pathway and weigh the risks associated with borrowing.
- Seek professional guidance.
Navigating debt can be complex. Talking with your trusted advisor about tailoring your strategy based on your financial situation can provide valuable insights. Contact your trusted advisor today to discuss your unique situation.