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budgeting

Good debt, bad debt. Know the difference.
Good debt, bad debt: Know the difference

Debt’s bad, right? No, it’s good. Okay, okay. It depends on the situation. Debt’s good if it has a positive effect on your financial future. It’s bad if you’re buying unnecessary stuff and falling behind financially. Good debt Debt can be an investment. But before you tell your mates you’ve ‘invested’ in a new surfboard or the best winter coat ever, read on. Good debt is something that you will make money from. Here’s how: 1. Home loans Homes go…

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How to build an emergency fund (and why you need one)

Last week I paid for an upcoming ski holiday in Canada. The trip isn’t until January but it has to be paid in advance. Skiing in Canada is my idea of nirvana, so it wasn’t too painful to see the thousands of dollars flowing out of my account; after all, it’s going to a good cause. But this week, my car decided it needed a wheelbearing replaced plus a wheel alignment and new spark plugs. Then my dentist informed me…

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