debt
Qn: How do we get out of debt?
This year I have again volunteered for the Financial Planning Associations’s Ask an Expert program. Following is one of the questions I just received and my answer. The question Hello Matt, my husband & I own our own home but have a mortgage of nearly $300,000. It is an equity style loan, we only have [...]
Seventy percent of credit card debt accrues interest
“Did I just read that right?” I thought as I put down my coffee and twice re-read this paragraph: ‘Consumers are still cautious about the debt they build up on credit cards. An analysis by card operator Mastercard shows that only 70.8 per cent of the total $46.9bn in credit card debt is accruing interest, [...]
To Fix Interest Rates or Not?
With two interest rate rises already under our belts more people are asking me if they should be fixing their rates. Read on to discover the pros and cons and if fixing your interest rates may be right for you.
How to survive the recession
On the ABC’s 7:30 Report on Wednesday night, Economist Associate Professor Steven Keen gave the following prediction for Australia this year: “Best case scenario is a recession more severe than 1990 and lasting one and a half times as long. Worst case is something up to the level of the Great Depression which was 20 [...]
3 tips to manage your mortgage stress
Have recent rises in interest rates left you feeling the strain of meeting mortgage repayments? Or perhaps are you concerned that if interest rates go much higher you will be under financial stress? If so, this interview is perfect for you. This morning I interviewed expert Mortgage Professional, Damian Day of Ardent Finance to uncover [...]
‘Tis the season to be…broke??
Wow, the Christmas decorations are up and about in the shopping centres and even through Perth city centre. Christmas is a terrific fun time, but historically it also is a time where we not only eat and party to excess but we seem to spend to excess. Eating to excess leaves us feeling terrible and [...]
Housing affordability an urgent problem, but who’s to blame?
Housing affordability is an urgent problem, even at crisis point if you read the continuous media coverage over the past year. And within the first couple of days of the current Australian Federal Election campaign the politicians had jumped on the bandwagon with policies for our housing affordability crisis. Interest groups have also been cramming [...]
Credit is the drug I’m thinking of
One in two Australians (51%) agree they would be lost without a credit card, according to research published in the Citibank Payment Evolution Report (June 2007). In fact one in five (21%) strongly agree. Credit is the drug, got a hook on me. (Apologies to the ’70s band Roxy Music.) That wouldn’t be such a problem [...]
Six tips for choosing the best home loan
To help you choose appropriate finance products I interviewed one of Perth’s top mortgage brokers, Damian Day of Ardent Mortgage Services, and asked him to share his top tips.
Increase your cash flow by managing your debts
Cash flow is king. Fundamental to creating wealth is to have control of your cash flow. One of the first steps in doing so for most people is to have command over their debts. So with the recent interest rate rise spotlighting the impact of debts, this week may be a great time to share [...]
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