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If left unchecked, debt can pose one of the greatest obstacles to Financial Independence. However, not all debt is created equal. Some debt will erode your finances, whilst others can (when used correctly) be a tool in your quest towards FIRE.

In this chapter, Aussie Doc Freedom helps you distinguish between different debt types. She also details the impact that each type can have on your FIRE plans, and how to handle them.

Rather read while you’re listening? You can check out the written version of this chapter on our blog.

NOTE: This chapter references general topics like deductible debt, but nothing included should be interpreted as tax advice. You should see a tax adviser if considering these topics.

Pearler
Strong Money Australia
Original Aussie FIRE e-book
Strong Money Australia’s audiobook

Disclaimer

Any advice is general and does not consider your financial situation needs, or objectives, so consider whether it’s appropriate for you. You should also consider seeking professional advice before making any financial decision.

Pearler is an Authorised Representative #1281540 of Sanlam Private Wealth Pty Ltd AFSL #337927. Read the FSG available from https://pearler.com/financial-services-guide

If you are considering any of the products we spoke about during the show, be sure to read the Product Disclosure Statement & Target Market Determination available from the product issuer’s website before deciding.

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John Kobik | Living with Purpose and Finding Your Chi