Tuesday, 28 July 2009
Budgeting help from Netspend
If you find yourself going into your overdraft each month, despite all your best efforts, there may be a product out there for you to help you stick to your budget.
Netspend is a Prepaid Debit Card that is loaded with money you place onto it. This means you cant go into your overdraft and incur any nasty charges.
Leave your credit and debit cards at home for emergencies and use the Netspend card as your everyday card, reducing the temptation to spend on unnecessary items.
Used in conjuction with the Budget Planner, you will be on top of your finances in no time.
This post was sponsored by a third party
Netspend is a Prepaid Debit Card that is loaded with money you place onto it. This means you cant go into your overdraft and incur any nasty charges.
Leave your credit and debit cards at home for emergencies and use the Netspend card as your everyday card, reducing the temptation to spend on unnecessary items.
Used in conjuction with the Budget Planner, you will be on top of your finances in no time.
This post was sponsored by a third party
Labels: budgeting, credit cards, debit, help, prepaid
Wednesday, 12 November 2008
Is it a good idea to take out a loan to pay off debts?
I recently took out a £5000.00 loan over 4 years to pay off my student overdraft, three credit cards and a car loan.
I was paying out £190.00 a month in total but am now only paying £125.00, a saving of £65.00 per month. I've calculated that if I had continued with my original payments I would have paid off my debts in around 3 years time but would have paid around £1000.00 more than what my loan will cost me, if I was to pay the standard credit card rates.
In this instance I think I made the right decision in taking out this loan, although I am paying it back for longer it is cheaper on a monthly basis and overall. Obviously, if I transferred my debt to interest free credit cards this might not be the case, but I have tried this in the past and find myself starting with good intentions only to gradually reduce my repayments to the minimum level. Plus, who’s to say with the current global climate that these deals will still be around in a year’s time and if they are there is no guarantee that I would be approved credit.
What do you think? Do you agree that debt to pay off debt is a good idea? Let me know your opinion.
I was paying out £190.00 a month in total but am now only paying £125.00, a saving of £65.00 per month. I've calculated that if I had continued with my original payments I would have paid off my debts in around 3 years time but would have paid around £1000.00 more than what my loan will cost me, if I was to pay the standard credit card rates.
In this instance I think I made the right decision in taking out this loan, although I am paying it back for longer it is cheaper on a monthly basis and overall. Obviously, if I transferred my debt to interest free credit cards this might not be the case, but I have tried this in the past and find myself starting with good intentions only to gradually reduce my repayments to the minimum level. Plus, who’s to say with the current global climate that these deals will still be around in a year’s time and if they are there is no guarantee that I would be approved credit.
What do you think? Do you agree that debt to pay off debt is a good idea? Let me know your opinion.
Labels: credit cards, debt, loans
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