Let’s assume that one has the following debt:
a. Mortgage worth RM 600k; Interest Rate @ 4%; Installment = RM 2k / month
b. Car Loan worth RM 130k; Interest Rate @ 6%; Installment = RM 1.5k / month
c. Credit Card Debt worth RM 20k; Interest Rate @ 18%; Installment = RM 1k / month
d. Personal Loan worth RM 30k; Interest Rate @ 8%; Installment = RM 2k / month
e. Education Loan worth RM 20k; Interest Rate @ 1%; Installment = RM 0.2k / month
What is the most efficient method to reduce them?
Here, I’ll discuss the concept of cash flow index (CFI), which enables us to determine which debt are efficient and decide which debt is to be repaid first. As a result, we can manage our debt levels more efficiently. Check out our webinar recording below:
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