photo by Ryan Ritchie. CC BY-ND 2.0
Have you been taking stock of your housing loan portfolio? If not then it is now time to identify where your strengths and weaknesses in your housing loan portfolio lie. To achieve this you need to have a personal ‘Stock Take’.
Just as in the same way that any business carries out a ‘stock take’ on their inventory to find out exactly where they are up to, you also need to measure your current loan position in order to plan the most appropriate way to go forward from here.
You need to know what your strengths and weaknesses in your current loan portfolio and exactly what your starting position is compared to now so you can work with your strengths, work on your weaknesses and measure and monitor your loan status as you move forward.
As much as possible, we will base this ‘stock take’ around the ‘Big T’s so the first step is to identify what your time skills are around financial matters. If you can’t control your time you can’t control your money. Money is a time sensitive thing too.
Next you need to identify how much you actually know about money in your existing loan portfolio. If you have no knowledge of your existing loan portfolio you have little hope of changing direction. By knowing the existing loan portfolio details you can take actions to remedy the mistakes immediately instead of towards the end of your loan tenure. Knowledge in action is power!
After that we will look at issues or weaknesses you are subjected to and the numbers themselves so we know exactly how bad things really are and see what needs to change to remove or minimize those influences from the equation.
These four steps combined will give you a complete Stock-Take of the financial ‘you’ and allow you to establish a clear picture of exactly what the problem is. Not just the numbers, but the actual problem behind the numbers! You will be in a position to clearly state what caused the debts to increase and what needs to be done to eliminate or minimized them permanently. You can take stock of your loan portfolio and resolve your issues fast by using the Avermax system which is a very timely tool and has an accuracy of 99% to help you save interest and reduce loan tenure by 50%.
