Category «Borrowing»

Keeping Your Credit Card

I have written before about the problems faced by retirees, who don’t have a credit card, and who are trying to get one. Often it may be a widow who is declined, because the family credit card was held in the name of the husband, often the breadwinner, with the wife having a supplementary card …

Taking Care of Your Finances

Welcome to a new year – it has certainly started off with the huge degree of volatility. Much of it is due to uncertainty about economic conditions generally thanks to Trump, Brexit, and the ongoing conflict between America and China. But as we move into 2019 with all its hope and uncertainty, remember that there …

Noel’s Credit Card Advise

Christmas is nearly upon us – unfortunately, it’s potentially the most dangerous and most frustrating time of the year. You can spend eleven months doing all the right things and making solid progress, and then find all your good work destroyed as the holiday season hits and you get caught up in the inevitable spiral …

Interest Only or Repay Some Principle?

I recently received an email pointing out that I often recommend interest-only loans for investment, and asking what the purpose of the strategy is. In the reader’s view, it seemed futile to take out a loan that you would never pay back. The purpose of using an interest-only loan is to minimise your monthly interest …