As you work to build your financial future, it’s likely that things can get more complicated. That doesn’t have to be a negative. Growing a family, advancing in a career, and investing in your ultimate goals provide more challenges and demand more attention, but – ideally – all is geared towards your ideal future.

Your money and assets can go through a similar change. As you build and grow, finance isn’t as simple as knowing how much is in your wallet or checking account. Credit cards, mortgages, loans, subscriptions, and other seemingly endless transactions and obligations can make it difficult to get a clear understanding of your position at any given moment.

A sound financial strategy isn’t necessarily about having zero debt or chasing more growth at every opportunity. But constantly monitoring your debt can help give you confidence and insight over your financial health. The end of the year is a good time to consider:

• Debt: There is a healthy time and place for debt. A mortgage or car payment are likely necessary if you want a comfortable lifestyle and dependable transportation. Conversely, budgeting to pay down credit card debt can save unnecessary interest payments and bring about more confidence.
• Take Advantage: Buying on credit will cost extra in terms of interest payments, but most cards feature some sort of benefit. Consider your needs and most common expenses (groceries, entertainment, travel, etc.) and shop for deals or lines of credit whose reward system best aligns with your normal spending.
• Watch the Rates: Review terms and update information for accounts with outstanding balances. A simple conversation could open the door to a better deal for you.

Our team can help show you how to best utilize credit and position yourself with debt. Contact us at 678-539-9518 and take a step towards building knowledge and confidence in your financial planning.

Investment advisory products and services made available through Impact Partnership Wealth, LLC (IPW), a Registered Investment Adviser. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier. 

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This blog is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.