Get "Out - Of - DEBT" Fast

 From my previous article, I mentioned would share on what is the alternate ways on how to get out of debt faster. There are few options:-

1) Consolidate your debt you owe

2) Re-structure your existing investment-link product (if you have)

3) Review Investment Portfolio

1) If you are owing to credit cards debt, mortgage debt, personal loan, it is wisely to consolidate the debts into mortgage loan as it is the cheapest loan.

Credit card Interest 18%p.a

Personal Loan Interest 6%-7%p.a

Mortgage Loan Interest 3.3% - 5%p.a

You are able some interest and easy to monitor your debts when it is consolidated.

2) You can withdraw some cash from your investment-link product to settle your debts as it is only important to clear our debt fast before you make/start other investment.

For instance, how much the return you will get from investment-link? 5%? 6%? (uncertainty), but your interest charge on your debt (say 7% on your personal loan) is certain.  

3) If you have your investment portfolio : Stocks, Property, Unit Trust, Gold, Foreign currency, etc…You need to review time by time. If the loss is more than the return it can bring to you, you should seek for your financial planner advice and make necessary implementation or risk management.