Townsville Bulletin

Top debt tips

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• Have a detailed plan combining income, expenses, superannua­tion, investment­s and debt management – financial advice can stop you thinking about each issue individual­ly.

• Every extra dollar put into a mortgage now will reduce its size and length. • Ensure you are paying a low interest rate to maximise savings.

• Can you rent out a room to help you pay down more debt? • Superannua­tion may provide the cash, but ensure you still have enough income to live comfortabl­y. • Downsizing may eliminate mortgage debt, but first understand the selling and buying costs.

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