To put it in perspective, it's 12 times the entire health budget. The interest payments alone are €5.2bn, and rising. It's like maxing out your credit card, only making the minimum payment and every few months rolling it all on to a new card. Nobody would organise their family finances the way the Government handles ours. Nevertheless, with many in debt, I'm looking at better ways of handling money problems. Good debt v bad debt Not all debt is bad. Lots of things have to be financed by loans; a mortgage the biggest one. Borrowing over a long time with affordable repayments is normal. If you need a car, than borrowing over as short a period as possible is also OK. Bad debt is when you use credit to pay for day-to-day spending. Putting your groceries or electricity bill on a credit card, for instance, or buying a holiday with an overdraft. This builds up debt fast, as it becomes a habit. The top-down method List all your debts in order of the interest, highest first. That's … [Read more...] about Your Money: How to sidestep costly debt traps
Bad debts meaning
Lifestyle / Entertainment by Press Association 27/04/2019, 3:35 pm Send us a story Sign up to our Daily newsletter Stephen Graham has said his dyslexia is so bad that his wife reads his scripts for him and chooses his roles. The Line Of Duty star has been open about his struggle with the learning difficulty and said he relies on help from his actress wife Hannah Walters. Discussing his rehearsal process during the Bafta Sessions on performance with fellow nominees for the British Academy Television Awards, Graham referred to his experiences with Shane Meadows, with whom he worked on the This Is England series. He said: “With Shane you spend a lot of time getting into the character and you spend the majority of time doing that and then when you’re in the room it’s whatever happens. “With the script it’s knowing it, knowing it, knowing it and then throwing it away.” He added: “I’m dyslexic so I struggle. My … [Read more...] about Stephen Graham: My dyslexia means my wife chooses my roles
Christy Bieber The Motley Fool Published 8:27 PM EDT Apr 19, 2019 Freedom from debt is a common financial goal and with good reason. After all, being in debt is expensive. And it can leave you feeling trapped as you're forced to continually earn money to send payments to creditors. Unfortunately, being in debt is a way of life for many Americans, and the debt trap is one you'll never get out of unless you change these five troubling habits. 1. Paying only the minimums on your credit cards Making minimum payments on your credit cards is a surefire way to stay in debt forever. The minimum payment likely barely covers the cost of interest, which means your principal balance hardly ever declines with each payment you make. The result: It takes years to pay off what you owe. Say, for example, you have a $5,000 credit card balance on a card charging 15% interest. If you make a minimum payment equal to the lesser of 2.5% of your balance or $15, you'll be making … [Read more...] about Plans to help get out of debt.
A quarter of adults under age 34 are withdrawing savings from their 401(k) plans to pay down credit card and student loan debt. Fully 60 percent of today's young adults define "financial success" as being debt-free, as opposed to 19 percent who believe it's being rich.Withdrawing funds from a 401(k) comes with heavy tax penalties and can set young savers behind on their retirement goals.When her husband asked for her signature to withdraw the $11,000 in his 401(k) to pay off credit card debt and a medical bill, Marissa Sanders, 30, tried to talk him out of it. Sanders, who runs a financial advice blog, tried to explain the importance of compounding interest over future decades, but her husband decided against the advice. "I didn't know what to do, really, he was intent on taking it out," Sanders said.For a generation often defined by unprecedented levels of debt, the idea of financial independence has become so important that one in four young adults with 401(k)s are choosing to drain … [Read more...] about Yikes: 1 in 4 millennials raiding 401(k)s early to pay down debt
Yasir Masood — Since the CPEC is entering the next phase of its development, those opposed to it are trying to impede its progress using a two-pronged strategy-first, deceiving the public by misquoting the CPEC's financial figures and achievements in the media, and second, raising the specter of past militancy in Pakistan to mislead investors into believing the country is still a volatile investment destination. CC0Pakistan Withdraws Key Power Project From CPEC - ReportsDespite Pakistani government departments issuing innumerable clarifications, along with the real facts and figures about the CPEC, the international CPEC cynics are bent upon calling it a "debt trap". Let us solve this puzzle by analyzing the CPEC's financial figures shared by the Chinese embassy in Islamabad. For instance, only $5.9 billion of the $18.9 billion funding provided by the Chinese companies so far … [Read more...] about Analyst: CPEC a Debt Reliever, Not a ‘Debt Trap’ for Pakistan