Getting out of debt is an experience to be savoured like any other, plus the rest of the week’s good reads…
debt
There are huge immediate financial rewards from getting out of debt, but the mental pay-off may be even greater.
Have you ever wondered who you’re borrowing money off when you go into debt? If you think you’re being given money by a bank or credit card company, think again.
With low interest rates and a recovering economy it’s more tempting than ever to invest rather than pay off the mortgage. Is it worth the risk?
The economic situation in the US and UK is very different from the train wreck in Greece. The blogosphere needs to get some perspective.
Borrowing to invest in stocks looks like a good idea but is a really bad one. This special week-long series will try to explain why.
The actor from Lock, Stock (and Press Gang, for a certain generation) has given The Telegraph a cautionary tale on the reckless spending and debt-mania that saw him go bankrupt at 31: I guess I was under the impression I had more money than I did. But I was very wasteful – I bought a [...]
Debt isn’t just painful because of the interest bill you pay. There’s also the long-term value of that money if you’d saved and invested it instead.
Buy something on a credit card, pay off the minimum amount per month, and you’ll actually pay for it twice. Here’s the maths.
The only good debt is debt you take on for investment. Unless you run your own business, that begins and ends with an affordable mortgage to buy property. Get out of debt of any other kind, as soon as you can. Pay it off! Kill it dead! Borrowing to invest in shares is too risky. [...]
Your debt makes other people rich. You’re borrowing from your future self, who will be poorer, less secure, or lead a less abundant life because you wanted something now, before you could afford it. You must get out of debt. You can’t save while you’re in debt, and it grows like a weed. Kill it! [...]