Money Habits

11 Things to Remember when Borrowing
11 Things to Remember when Borrowing
The heart wants what the heart wants, and when the heart wants something the voice in our head often gets no say in the matter - particularly when it comes to sizable purchases that require some sort of loan.

Be it a loan for a car, boat, house, holiday or whatever, far too many people are just grateful enough that they qualify for a loan in the first place to actually bother looking over the fine print and determining what that really means for their future. Unfortunately as a result there’s no shortage of horror stories of people who were unable to meet their loan conditions.

So, in order to help you avoid a similar fate, keep these things in mind before signing...

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Borrowing Apples -
Thinking a Little Differently
Borrowing Apples - Thinking a Little Differently About Your Loan
One of the most important things to know when taking out a loan is what the overall cost of that loan will be over the lifetime of the loan. For example, if you borrow $10,000 for a car over 5 years, you’ll want to know how much you will have paid back at the end of that 5 years, including all interest charges, fees, administration costs etc.

It’s only by comparing that amount against the initial loan amount that you can truly get an idea of what the true cost of the loan is. If that $10,000 car loan ends up costing you $12,000 you’ve effectively paid 20% more for the car than it originally cost even if the interest rate was a seemingly low 5% or so at the time you took out the loan...

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Borrowing Jargon

Borrowing Jargon
Even in a tight lending environment you should always shop around for the best deal and a major factor in knowing if you're getting a good deal or not is to understand the jargon of 'money-speak'. So to help you, we have compiled a list of the more common loan terms you're likely to come across when negotiating a loan. Take some time to familiarise yourself with the jargon but also don't be afraid to ask your lender to clarify something if he/she says something that you don't understand....Read More >>

Credit Cards

All About Credit Cards
There's no escaping the fact that credit cards have revolutionised our spending habits over the last few decades or so. Equally, there's no escaping the fact that credit cards have also been responsible for an ever increasing mountain of personal debt – the average US household now owes over $8000 on their credit card – and it’s debt which many people find increasingly difficult to escape from....Read More >>

Credit Card Loyalty Schemes

Credit Card Loyalty Schemes
Not surprisingly, credit cards are big, big business, and there are many credit cards on offer from many different suppliers. As such, there is no end to the so-called incentives to tempt you to use one card over another. If you're the type of credit card holder that uses the card responsibly, pays the balance off each and every month and knows how to get the most out of the card, then these various credit card reward programs can be quite beneficial (most people, however, are not)....Read More >>

Different Types of Mortgages

Different Types of Mortgages
A mortgage for a property will probably be the biggest single loan (or investment, depending on the way you look at it) that you'll take out in your entire life. It pays therefore to do your 'mortgage homework' before you even start out looking for a property. The smallest variation in interest rates can have a dramatic long term effect on the amount of money you end up paying for your property over the course of your mortgage loan...Read More >>