Many in the FI community detest DEBT and I do see its uses but I don’t like how we actually use it. The worst situation to be in is to have someone wanting to borrow money from you – what should you do? Continue reading “Why lending to people who need to borrow is a bad idea”
I read this article on the BBC which is all about the how spending money you don’t own is a recipe for disaster or to put it another way “Overdraft woes: ‘We were one bill away from disaster'”. Since the general consensus in the UK is that you are not responsible for your own financial decisions, the nasty banks are making money out of hard working
debt slaves families.
GFF sees this as a symptom of a much greater problem and one that deserves a bit of discussion
And why it’s a symptom of something that is much worse. Continue reading “What went wrong with Wonga?”
I just read that now older mortgage holders will be able to continually rent their home until around the time they move into an old folk’s home (or die). Accordingly, Leeds’ Building Society has new INTEREST ONLY mortgages offered to borrowers aged 55 to 80.
Well – when your house could have earned more money than you have in your lifetime, why should you not just MEW be increase in price and continue the luxurious of mortgage usury? Continue reading “Geriatric Interest Only Mortgages”