Canberra Centre stores open after COVID-19 lockdown. Photo: Thomas Lucraft. After enduring eight interest rate hikes since May, and with analysts predicting more to come, the financial pressure on individuals and business owners is set to continue. Personal budgets and business cashflows have already taken a hit due to increasing loan repayments, especially frustrating given…
Debt, in some form or another, is part of our financial profiles whether we like it or not. And it can be a useful way to build wealth if it is managed carefully and wisely. For example, you may borrow money from the bank to buy an asset a resource of economic value that generates…
DO you want to take back control of your money and become debt-free in 2023? We have some tried and tested methods to get you on track. 3 We reveal five tried and tested methods to get you on track with debtCredit: Getty With households overspending by an average 740 during the festive period, according…
There’s a lot that goes into the home buying process, especially if you’re a first-time home buyer. One criteria mortgage lenders use to assess your mortgage application is thedebt-to-income ratio (DTI). Your debt-to-income ratio is a comparison of how much you owe (your debt) to how much money you earn (your income). The income you…
Image source: Getty Images Should Dave Ramsey’s warning scare you away from debt consolidation? Key points Debt consolidation can be a great debt-repayment tool. Dave Ramsey isn’t a fan of it since he thinks it will potentially keep you in debt longer. There’s merit to Ramsey’s advice, but you shouldn’t necessarily avoid consolidating your debt.…
The viral Facebook post claims a program can wipe your debt away. Financial expert Scott Braddock reveals the truth about this claim. GREENSBORO, N.C. Debt. Most of us have it and would like to get rid of it.There’s a video going around on social media and it promises to help you get out of debt.…
Pedestrians view the holiday windows at a store in New York on Dec. 2, 2021. Christopher Occhicone | Bloomberg | Getty Images High inflation and rising interest rates mean holiday shoppers who turned to credit cards and other methods of borrowing are left with bigger balances this year. Slightly more than a third, or 35%,…
How to pay off credit card debt Getty Images Credit card debt is stressful and costly. The good news? Like thousands of others have before you, you can get out of it though there is no one-size-fits-all answer as for the best way to accomplish reaching a $0 balance, pros say. Here are six options…
You’ve got big financial plans for 2023. Maybe they include buying a home or car, or getting a new travel rewards credit card to help pay for your next trip. There’s a key piece of these plans you may not have considered: building your credit score. A better credit score can expand your access to…
SPRINGFIELD, Mo. (KY3) – Borrowers beware of debt relief and credit repair scams. With so many struggling to make ends meet, scammers may offer you help. You might get a letter, email, or phone call about these services. Do not believe in guarantees. Nobody can guarantee debt will go away or improve your credit score.Beware…