Home Plan Debt

Debt

Judicious, consistent debt management is one of the most positive actions a woman can undertake. The majority of adult consumers now carry some type of debt. This may be an education loan, a home mortgage, or one or two credit cards. Debt is important to carry to establish a credit rating. The New Savvy shows how debt doesn’t have to be a bad thing and even describes how to keep aggressive debt collectors off your back. Managing your debt properly is the key to keeping more money in your pocket long-term. Debt is a necessary element of a productive financial plan. A current credit rating is essential to prove to potential lenders that you have made good on past debt pay-offs. To establish a credit rating, experience as a debtor is a must. Look at this way: your ability in the future to be credit-approved for that home loan, start-up business loan or kitchen appliance financing depends on whether you’ve made entirely unrelated past monthly credit card payments on a timely basis. So don’t circumvent debt completely – it is a useful part of personal money management. This guide to debt management and solutions describes the difference between “good debts” and “bad debts”. Since no one can avoid becoming a debtor, it pays to concentrate on accruing good debt and paying off bad debt. Proper planning – including creating a realistic income/expense budget, prioritising individual debts and creating a timeline reflecting reasonable points at which principal can be repaid – can make all the difference in saving you additional high-rate interest charges or overdue fees. The New Savvy can show you the ropes. Learn how to carefully monitor credit scores and credit ratings. There’s never a better time than the present to get “in the know” about your own credit rating and numeric credit score. Before applying for any loan, it’s vital that you can see your own credit record through the eyes of your potential lender! The New Savvy tells you how to access your own credentials quickly and economically. With a bit of common sense, a debt situation can be turned into a positive success story. The New Savvy tells you how to create a debt management plan and solutions with examples and advice by financial experts on clearing debts of all kinds. Learn the fine art of taking on and paying back student debt or using smart methods to a heavy mortgage commitment off your back.

This article originally appeared on ValuePenguin The rise of household debt has been a big issue in Singapore. Due to lacklustre real income growth compared to the rate of inflation, consumers have been borrowing more to fund their consumptions. While this has...
Most people with a traditional approach to their finances may think that they shouldn’t borrow money to go on a holiday. Being financially conservative usually means that, while taking a loan for buying your own home or a car is...
After floating around 0.4% for +5 years, 3-Months SIBOR has risen to around 1% by May of 2017. This is because the U.S. central bank began to hike its interest rates since 2015. However, although rates in the US...
Beginner's Guide to Borrowing Unsecured Loans In Hong Kong What are unsecured loans? The best way to define this type of debt is to compare it with a secured loan. It is the opposite because it allows you to borrow money...
How To Choose a Mortgage Broker in Hong Kong Choosing a mortgage broker is one of the many decisions that you have to make during the home-buying process. Among the other choices includes the type of property that you will...
This article originally appeared on ValuePenguin Personal loans, which are unsecured instalment loans, are becoming increasingly popular because of their relatively low-interest rates compared to other borrowing alternatives like pawn shops or moneylenders. While personal loans can be used for almost any purpose, some use...
Credit is prevalent in our daily life now. From buying of movie tickets with a swift pay wave transaction to purchasing your dream home with a mortgage, credit is used. When speaking of credit facilities, urban dwellers like you and...
With easier access to credit and the immediate gratification culture of “Buying Now, Pay Later”, many have found themselves caught in a cycle of credit card debt. Our statistics have shown that the highest consumer delinquency rate for unsecured credit...
Nothing weighs you down like debt. Like a leach, it sucks the freedom out of you and the faster you rid of it, the better. Here's how you can break away from the shackles and be closer to financial freedom!
Life has a way of presenting sudden emergencies in your path when you least expect it. Worse, sometimes such a surprise can come at a time when you can least afford it, be it a medical emergency, or a...
47,165FansLike
8,798FollowersFollow

Recent Posts