Even high earning professionals have debt. It seems to follow us around like a parasite we can’t shake. I’m not talking about good debt like a mortgage, but bad debt like the ever-dangerous credit cards and personal loans.
We often take out debt to fund our lifestyle, whether we can afford it or not. High earners spend just as much as lower earning professionals do. The more you earn the more you spend. A fancier car, a larger apartment, eating out at Michelin star restaurants, and a membership to that exclusive country club.
It is very easy to fall into the trap. What we don’t realise, is that debt consumes a substantial portion of our disposable income. Imagine how much you could save or put into an investment with debt repayments.
The cost of living is increasing exponentially, and it seems impossible to be debt free, but with a few adjustments we can start our journey to being debt free.
This is perhaps the biggest challenge but is the start of living debt free. We need a mind shift to be able to achieve this.
The first two statements are major endeavours for many and are preventive of nature. If you have no debt yet, then you are one step ahead and hopefully don’t fall prey to quick debt. If you are already in debt and need to get to the above levels, there are small things you can do to achieve this.
Your financial advisor can help you trim the fat off your expenses and put you on the path to being debt free. [email protected]
Please note, the above is for education purposes only and does not constitute advice. You should always contact your Acuma advisor for a personal consultation.
* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.
Category
Acuma Hong Kong’s Public Relations department deals with all areas of the media and external communications including international, national, regional, local, trade, consumer, print, broadcast, social and online. The department aims to provide a helpful service to journalists, broadcasters and editors, amongst others, and reply to all media enquiries, including urgent enquiries out of hours, within agreed deadlines. Our press office does not have access to client details and will not be able to assist with individual client enquiries. Please contact Acuma Hong Kong’s Head of Public Relations on [email protected] or call +44 2071220925