Do You Need Debt Help?
If your debt to income ratio is below 36% you are within the healthy range. If you are between 37% and 49% it may still be manageable but you might be feeling quite tight and may not have enough to save or do the things that you want to do.
Or maybe you are just managing your debt and not really paying it off. If your debt to income ratio is above 50% then you need debt help.
If your debt to income ratio is above the healthy range of 0-36% then it is a good idea to consider your options and make a plan to get yourself into the healthy range. Debt consolidation for example, is a great way to make progress with your debt by grouping all of your debts into one monthly payment. You often can reduce your interest rate which in turn lowers your payment and decreases the amount of time it will take you to pay off your debt.
If you would like to learn more about debt consolidation or just need debt help, give us a call at 4 Pillars Red Deer at 403-332-7361. We offer a free one hour consultation either by phone or in the office. We will go through your financial situation with you and present you with the best options for you.