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Archive for the Personal Debt category

Apr

Things To Avoid Buying on a Credit Card

posted by admin in Credit Card Debt, Personal Debt

Credit cards are more secure than cash and allow consumers to cover emergency expenses that they may not be able to cover with cash. However there are some items or expenses that should not be paid for with a credit card since it can mean years of high interest debt! Credit cards should not be used...Read more...

Apr

Australians Are Reducing Credit Card Spending

posted by admin in Credit Card Debt, Credit Cards, Personal Debt

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Recent reports have named Australia as the world leader in personal debt, but there are signs that the Australian love affair with credit spending has begun to wane. According to the Herald Sun, credit card debt in 2010 grew at the slowest rate in 14 years and credit card holders have upped their repayment...Read more...

Feb

Exit fees reduced, but refinance still costs

posted by admin in Disposable Income, Lenders Mortgage Insurance, Personal Debt

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Lenders mortgage insurance (LMI) is a fact of life for many investors as well as home buyers when buying a property. While there's been much talk about the banking wars and the intensification of competition between the banks, one of the big costs in mortgage refinancing to a new lender could be lenders...Read more...

Feb

What Is Your Net Worth?

posted by admin in Credit Card Debt, Mortgage Debt, Personal Debt

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An American remarked to his friends that a homeless man on the street was worth more than he was because the homeless man couldn't get credit and therefore had no debt. The man may not have had any money, but he didn't owe any money. Net worth is determined by adding up all of a person's assets and...Read more...

Feb

A Prenuptial Agreement May Not Cover Everything

posted by admin in Personal Debt

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One of the most contentious issues in marriages is money and it is frequently one the causes for divorce. When people are in love they often don't want to consider practical matters like how much debt does a potential mate actually have. Many people think they won't be held responsible for the future...Read more...

Jan

Australia Leads the World in Personal Debt

posted by admin in Personal Debt

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For years the Americans were the target of criticism for their out of control personal debt, but the recent recession has caused many Americans to cut back on borrowing and spending. At the same time, low interest rates and government economic incentive programs in Australia have encouraged many Aussies...Read more...

Aug

Credit appetite wanes

posted by admin in Credit Card Debt, Mortgage Refinancing, Personal Debt

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Research by a leading credit reporting agency shows consumer credit demand has not returned to pre-global financial crisis levels, and credit card and personal loan applications for the June quarter were flat compared with the same period last year. The data revealed the largest quarterly drop in...Read more...

Jul

How to protect yourself from rising interest rates

posted by admin in Credit Card Debt, Interest Rates, Personal Debt

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Personal debt is looming as a serious issue for many families. Bigger mortgages, rising utility costs and higher transport costs are squeezing family budgets. Interest rate rises can bite a huge chunk of the family budget but are not the only variable costs for the typical family. Discretionary expenses...Read more...