Business Services
Our main focus is to provide our business clients with a "road map" for the future.
Financial Services
KW Grimes & Associates Pty Ltd is uniquely positioned to provide you with total financial care.
Request Appointment
Download Forms
UNDERSTANDING DEBT
What is good and bad debt?
It can be tempting to use debt to get what you want now and pay for it later. But too much debt can impact your ability to save and even make it difficult to meet your everyday expenses, particularly if you are borrowing using credit cards with high interest rates.
What you need to know
Avoiding unnecessary debt early in life will be a huge benefit later on. But, it is also important to understand that not all debt is bad. Purchasing assets that are likely to go up in value (such as your first home) or generating additional income using loans can often be a sound financial decision.
Ideally, try to avoid going into debt to pay for depreciating items, such as cars and luxury goods. You'll probably end up paying a lot more than you intended, so before you buy you should consider the total cost of the purchase, including interest repayments.
Getting started
- Do your best to pay the balance of any credit card debt in full every month to avoid your credit card bill spiraling out of control
- Shop around - find the cheapest card that suits your needs and cancel multiple cards
- Start a budget so you know exactly how much you can afford to spend
Count on us
A Count adviser can help you:
- Review your finances and help you reach your goals
- Minimise your bad debt
- Set up a budget and regular savings plan
KW Grimes & Associates Pty Ltd is an authorised representative of Count Financial Limited ABN 19 001 974 625 holder of Australian financial services licence number 227232 (“Count”). Count is owned by Count Limited ABN 111 26 990 832 of GPO Box 1453, Sydney NSW 2001. Count Limited is listed on the Australian Stock Exchange.
The information on this web page is not financial product advice and is provided for information only.
This website will always contain the latest version of our FSG
part 1 and
part 2, which includes important information about our firm, your financial adviser, and our licensee.
Information on this website is based on current regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this information, no liability is accepted by Count, its related entities, agents and employees for any loss arising from reliance on information within.