List the cost of each loan
Interest rate, outstanding balance, remaining tenure and any prepayment terms give you the information needed to prioritise.
See debt alongside goals
Repayments and investments draw on the same monthly surplus, so the two decisions belong in the same conversation.
Key Takeaways
- Know the cost of each borrowing before deciding what to repay first.
- EMIs consume the same surplus your goals rely on.
- High-cost revolving credit usually deserves priority attention.
- Debt Management
- Loans
- Credit Cards
Want to understand how these concepts apply to your financial goals?
Talk to a Financial AdvisorInformation published by 365 Wealth is intended for educational and general informational purposes only and should not be considered personalized financial, investment, insurance or tax advice. Individual circumstances differ. Please consult an appropriately qualified professional before making financial decisions.