I’m going to talk to the banks. And I’m going to be frank. Because it doesn’t make economic sense to have a growing deficit of housing units, currently standing at over 200,000 and increasing every year, have stagnating high house prices because of low intake, have only about 20,000 mortgage accounts and still maintain high interest rates. There’s no tingle to own a home yet.
Category Archives: Personal Finance
Never test the depth of the river with both feet. ~ Warren Buffet
Belief is a powerful emotion, opportunities conjure anticipation and excitement, and spikes of pure joy ooze out of you when tempted with the prospect of making a lot of money in a short span of time. You’ll be approached to consider a deal, a possible and plausible venture. The figures will leave you ecstatic, your dream lifestyle waiting to be ushered in.
My problem lies in reconciling my gross habits with my net income. ~Errol Flynn
You’ve endured a battle within yourself. There’ll be no more impulse spending or bad debts on your menu. You’ll take control of your finances, you’ll be more strict with your budget. You want to dodge the embarrassment that comes with a fat pay slip and an underweight bank account, you want your resolve to be a bunker, quite indestructible. But it’s not over just yet.
It’s easy to get caught up in the theory of not spending more than 25% of your net income on rent, or on housing (which also includes utilities, maintenance, etc). That’s what most financial advisors, and even your next door unqualified expert, will advise you. That theory, nevertheless, would make sense were all other factors held constant. But reality tends to take its own detour.
You’ve obviously heard this one before. It’s the one from financial advisors and your next door armchair expert. It’s the one about reducing your loan amount by making extra payments during the course of the loan period. They say that, not only will you be able to pay off your loan sooner, but you’ll also reduce the total amount of interest paid on the loan that is calculated on a reducing balance interest rate basis.
It’s easy to get a loan unless you need it. ~ Norman Ralph Augustine
You are back once again in the realm of unsecured personal loans. You know the script by now; don’t touch if your interest is in luxuries for own sake. Ah, you’ve tried hard to fight that temptation but to no avail. You’ve actually given your best shot. It’s just that these funds are tantalizing bordering on your account. What the heck, with your pay slip as the only security, you go home with an account chocking with currency.
The art of being wise is knowing what to overlook. ~William James
Surely, you must be cream-crackered by now, what with the never ending stories of mistrust creeping into our marriages. You question yourself, down to the bone marrow, whether it will take divine intervention or willing mortal beings to get rid of it.
Our airwaves are clogged with overtones that only a harebrained man can put property in the names of his wife. It seems likely Read the rest of this entry »