no interest and a nominal fee? Check that out, it may save you hundreds
of dollars. There are several online resources you can use to find the right
credit card for you. In most cases, you can even apply and input your balance
transfer information right there. Starting out with student loans, remember
they were worth it. I promise you’ll thank you parents later when they still
have money to retire and aren’t living in your basement. The key word to
any debt is consolidation. You can consolidate your student loans into one
payment. This will help you chip away at the principal faster. Have a 30-year
mortgage? Keep in mind that you’re not tied to that mortgage for 30 years;
you can refinance to take advantage of lower rates. Another great advantage
to home ownership is the ability to access your home’s equity to – here it is
again – consolidate debt.
To sum all of this up, it is up to you to determine which route makes you feel
better and be able to sleep at night. Unfortunately, finances are not all dollars
and cents. It is mostly behavioral.
While we all want to all be debt free and have plenty of savings, we must first
take the small steps that will lead to greater strides. I encourage you to sit down
and take a hard look at everything to determine what is best for you. No one else
can plan for your future but you. Still have questions or need some guidance?
You can check out the resources available on our website www.AxiomFSG.com
or contact me for more information at michelle.floyd@wfadvisors or phone at
812.948.8475.
“ U N F O R T U N A T E LY,
FINANCES ARE NOT ALL
DOLLARS AND CENTS. IT
IS MOSTLY BEHAVIORAL.”
Wells Fargo Advisors is not a tax or legal advisor. Any estate plan should be reviewed
by an attorney who specializes in estate planning and is licensed to practice law in
your state. This article was written by and provided courtesy of Michelle Floyd, CFP®,
Financial Consultant with Axiom Financial Strategies Group of Wells Fargo Advisors
in New Albany, IN. She can be reached via email at michelle.floyd@wfadvisors or
phone at (812) 948-8475. Visit our website at www.AxiomFSG.com. Wells Fargo
Advisors is a trade name used by Wells Fargo Clearing Services, LLC. Member SIPC.
CAR 0517-02348.
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