Digging your way out of the big hole. You’re never in debt so deep that you can’t get out again. At least one reader of this column will be reassured by this message from Raewyn Fox, chief exec of the Federation of Family Budgeting Services.
Help for those in debt. Repaying high-interest debt is sometimes called the best investment. And there’s a way to do it that, I suspect, many people don’t know about.
Q&As: Should man, 64, get student loan for the income, given that he probably won’t ever repay it?; Passing shares down the generations has good and bad points; Why did GPG get an exemption from the new international share tax rules?; Woman makes great progress in one short year; New charity aims to help children help themselves.
Excerpt from Get Rich Slow. This is the final week in which we are running excerpts from Mary Holm’s bestselling book, “Get Rich Slow: How to grow your wealth the safe and savvy way.” Mary’s regular Q&A column will resume next week.
Q&As: Lessons from the Bible: Is borrowing bad?; Is luck or attitude the secret to wealth?; Sharebrokers shouldn’t always be expected to give ongoing advice.
Q&As: A landlord’s nightmare; Credit cards v eftpos; Optimism, pessismism and oil prices.
Q&As: Eftpos v credit cards. And bank fees; The investment outlook is gloomy, so save!; Wealth doesn’t make you happy.
Q&As: Is compounding interest over-rated?; Credit cards v eftpos; How long is long-term? Returns on different assets.
Kids, cash and cards: Help your children learn about money. Also in this issue: From the Mailbox — Saving for the children’s future.
Q&As: When to declare share trading profits; What to do if travel agent charges more for using a credit card; Different Visa rules in Australia, and how Visa operates.