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.

Good Debt Vs. Bad Debt We’ve probably all grown up thinking that “debt” is a nasty word. Being in debt is bad, isn’t it? We may feel we’ve relinquished a bit of our own personal financial control to a lender...
Whether you’re planning a wedding or already married, it’s critical for you to understand how marriage changes your finances. Will my spouse’s credit debt affect mine or vice versa? Will our credit scores combine? In marriage, you do everything together:...
When you need a sum of money, you may get on the internet and start searching for personal loans. But for someone who hasn't taken a loan before, all the different types of interest rates shown and fees charged...
The bond market is by far the largest securities market in the world, providing investors with a virtually limitless investment option. Many investors are familiar with aspects of the market, but as the number of new products grows, even...
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...
What Exactly is a Credit Score in Singapore? These days, the term “credit score” is a hot topic. Let’s say you are a young Singaporean just starting out on your own. Let’s say you’re looking to buy your first car....
Personal loans are incredibly popular in Singapore. Given that they neither require a collateral nor limits how you can use the money, it's not surprising that even Google sees the highest level of consumer interest in this product than other financial...
Buying an HDB flat for the first time can be an intimidating experience. It’s probably the first big-ticket purchase in your life that will take the next couple of decades to pay off, so you’d definitely want to rake...
Knowledge comes with a price. As a student, passing your exams are not the only thing you need to worry about. The ever-increasing price of tuition fees for completing the academic curriculum has become something that parents and children...
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...
47,165FansLike
8,798FollowersFollow

Recent Posts