In one time or another some of us may
have fallen under the burden of debt, I know how it feel and may be you do too.
The discomfort and the feeling of helplessness brought about by being
debt-ridden is something you do not wish even for your greatest enemy. It’s a
never-ending cycle, some have risen above it and many are still burdened by it.
It’s a cycle we want to get out of.
During the SunLife #Money4LifeChallenge
workshop with Coach Aya Laraya, I learned that there’s good and bad debt. I always thought that debt
is bad because you are using money that you will pay in the months ahead
irregardless of whether you use it for emergency or you just use it to buy
something. And there is a point in our life when we want to save for future
emergencies or may be want to start investing.
But how can we do that when we are
saddled with debt. Should we save and invest or should we pay off our debt
first? This is a dilemma faced by some people. But either way, I think that you
will benefit from it whatever decision you made. The important thing is that we
have money goals for the future. A finacial goal that includes repaying debts
and building retirement funds.
It will just take some self-discipline
in your part and the advice of a good financal planner with a strong financial
mindset. SunLife’s financial advisors are trained in the way they can advice you
to plan for your future. You only have to seek for one.
But think of your debt first and what to
do with it. Remember a debt is something you should pay off, it’s an obligation
to do so.
