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Posts Tagged :

debt

Don’t let your partner’s debt problems become your problems

Romantic partnerships come in all shapes and sizes, from marriages to de facto relationships to casual relationships and everything in between. No matter what the relationship, it’s possible to end up in the shallow end if your significant other (SO) is drowning in debt or has poor spending habits. Here are some common ways your partner can burden you with their debt and how you might avoid it. 1. You try to take out a joint loan with your partner,…

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What is a personal loan?

A personal loan is a monetary loan you can get from a credit provider such as a bank, credit union or online lender – usually for a specific life purpose like renovating your home, paying for a holiday or consolidating several smaller loans. Lenders approve personal loans by evaluating your creditworthiness. When you enter into a contract for a personal loan, you typically receive money in a lump sum and agree to repay the lender back the money in regular…

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Avoid financial heartache this Valentine’s Day

Valentine’s day is just around the corner. And you know what that means: candle-light dinners, romantic water-side strolls, mouth-watering chocolates, exquisitely arranged bouquets and… your beloved’s outstanding debt?  At first you’ll be enamoured by that special someone’s talents and strengths but there will come a day when you have to face their flaws. And no, we’re not talking about letting one rip in the middle of a Netflix special, because we all do that. What we’re talking about here is…

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Debt consolidation loan vs. balance transfer credit card – which one to choose?

When you consolidate your debt, you are essentially taking out one large loan and using that money to pay off two or more smaller debts. The two major ways you can do this is by applying for a balance transfer (BT) credit card or taking out a debt consolidation loan. This guide explores why you’d want to consolidate debt in the first place and then looks at your two options to help you determine which one is right for you.…

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In debt? Here are some red flags that you are in too much debt and what you can do.

Are you swimming in debt? Or even drowning? You’re not alone, thousands of Kiwis have that same feeling they are sinking financially. Debt has its uses and can be used to spread out large or unforeseen expenses. Being in debt all the time, however, isn’t okay and you need to use credit, not let it use you. But there is a way out. Debt can be whittled away one dollar at a time if you start today. So what is…

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Got a Christmas debt hangover? We’ve got tips to help

The post-Christmas season can be a tough one, and our data shows Kiwis are more likely to let their credit bills languish unpaid at this time of the year compared to any other. If you’re anything like the average New Zealander, you’re probably feeling the effects of spending up large in the lead-up to the festive season and in the wake of Boxing Day sales. Usually around 6.4% of credit card accounts go past due without being paid, but in the January…

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Going from debt to building wealth: Your way to a richer future

There’s no magic in becoming financially fit. But Credit Simple’s Four Pillars of Wealth approach can help you get there. Going from debt to building wealth is easier than you might think. We guarantee there are people around you earning no more than you do who are well on their way to wealth. Here’s how to become one of them: Pillar one: spend less Do you know your needs from your wants? It’s only you who suffers if you’re not…

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7 steps to perfect credit card use

New Zealand’s collective credit card debt was nearing $7.2 billion in June this year. Your contribution to this growing national burden may be miniscule, but it probably doesn’t feel that way when your credit card bill thuds ominously onto the welcome mat. So, how can you avoid credit card debt in New Zealand? Many people believe using your credit card is always a bad idea. However, if you’re savvy and organised, paying on plastic doesn’t have to be the road…

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Should you consolidate your debts? We weigh up the pros and cons

Debt in New Zealand has been slowly increasing over the past few decades, and household debt is higher than it’s ever been in 2018. If you have a lot of debt, you may be considering debt consolidation, which has its benefits – as long as you’re aware of the risks. Pros of consolidating your debt If you pursue debt consolidation, you’ll be able to combine all of your debts into one loan, giving you just one payment to make each…

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Scared of your finances? 5 ways to get control over your money without looking through your fingers

Money management can be a terrifying thing. Especially if you’ve got debt – seeing large sums go in and out of your bank account is enough to give anyone the willies, even if it’s ‘good’ debt (such as a home loan). But there are strategies you can use to cope, and to not only manage your money but actually overcome those ghosts of spending past. Here’s five we’ve rounded up. Know where your money is going. Knowledge is power, and…

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