Articles in the Loans Category
Snowballing / Snowflaking Your Debts
May 5th, 2008
I recently came across the term snowflaking - a method for repaying your debts - which I’d never come across before, so I thought it, and the related snowballing method, warranted a little investigation.
To explain snowflaking we first need to understand the concept of snowballing …
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Student Loans Get More Expensive: Should You Repay?
November 29th, 2007
We’ve discussed the decision to leave or pay off your student loans before, and although the answer generally used to be “it’s the cheapest debt you’ll ever get into, don’t repay it until you’re forced to”, things have changed recently.
The interest rate on student loans, which used to be …
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More on Repaying Your Student Loan
July 11th, 2007
Brad Ford made a great point on my previous post about whether to pay off your student loan or not:
Without factoring in risk, paying off the student loan is an easy decision. Unfortunately, life is not without risk. Two months after you pay down the loan, you absolutely
…
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Student Loans: Pay or Delay?
July 10th, 2007
Like many, I left university with some debt. I’m probably one of the lucky ones though, as it wasn’t a huge amount, compared with the average figures that students are accumulating these days, plus all of my debt was in student loans - no overdrafts, credit cards etc.
I’ve been …
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Wonga: A new way to get small loans
July 1st, 2007
Wonga is not yet live, but this new service promises that it will give you access to “the fastest, most convenient and best value small loans available in the UK.
With Wonga, you’ll be able to take out loans of between £200 and £1,000, and you’ll have up …
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Cutting Out The Loan Middleman: Zopa
April 20th, 2007
Simple Pound has a good write-up on how Zopa works which is worth a read.
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We Don’t Trust Our Banks
April 17th, 2007
A recent survey by Fool.co.uk highlighted how we do not trust our banks with our money.
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Cooling Off Period Applies To Renewals
April 12th, 2007
A post at UKMoneyPot states that the 14 day cooling off period you receive when buying many types of financial product, such as loans, insurance and credit cards, also applies when your policies “auto-renew”.
For example, as with many insurers, if your car insurance renews automatically each year, you still …
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How Are We Affected By Interest Rate Changes?
March 9th, 2007
Interest rates have been kept at 5.25% for this month, although there are still thoughts that rates will rise again in the next few months.
But how do interest rate changes affect the average person? I’ll explain in very simple terms:
When rates fall, there is less incentive for people to …
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This Is Money: Crackdown On IVA Sellers
January 17th, 2007
More than a dozen firms promoting IVAs to people unable to cope with their debts have been ordered to stop using misleading adverts
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