November 19th, 2008

Cash Strapped Brits Worried About Christmas

As the festive season approaches, the struggles that everyday people go through have been highlighted.

As Christmas draws in, every day people’s struggles have been highlighted.

Head of personal finance, David Kuo from money website Fool, believes that large numbers of people across the country that are simply living “from hand to mouth” will struggle to put any money aside in time for Christmas.

The continuing squeeze on finances being caused as a result of the credit crunch is behind such difficulty in the run-up to Christmas, Mr Kuo said, arguing that this increased expenditure on everyday household bills has stopped people from saving any of their hard earned cash for Christmas.

This is a preview of Cash Strapped Brits Worried About Christmas. Read the full post (534 words, estimated 2:08 mins reading time)

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November 17th, 2007

Eliminate Consumer Debt If You Want To Be Rich

The first step to take to increase your savings is to start reducing your expenses. So what is the first expense you must reduce and eventually eliminate? It is the interest expense you pay on consumer debt.

While taking on a reasonable amount of consumer debt is necessary for you to afford a car and a house, you must avoid taking on too much for too long a period.

Why? Because a 5%-6% interest rate may seem small but over an extended period of time, it compounds to a huge amount of money. You will find yourself paying tens of thousands of dollars in installment payments every month just to see that the principal sum you owe go down by a couple of hundred dollars.

This is a preview of Eliminate Consumer Debt If You Want To Be Rich. Read the full post (471 words, estimated 1:53 mins reading time)

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