Borrowers should thoroughly understand their financial position in order to find the most affordable personal loan for them, according to Yahoo!7.
Why get a personal loan?
Personal loans can be used to consolidate a range of high interest debts into one simple, more affordable monthly payment. Credit cards currently charge between 10-23% interest and a consolidation loan can bring this down significantly. Personal loans can also be used to catch up on bills and pay for personal assets such as cars and household appliances.
Debt troubles in the US have cooled the Australian market, with the ASX 200 dipping below 5200, according to the Australian Financial Review.
Shane Oliver, an analyst for AMP, said the trading conditions as very messy. The situation is not being helped by politicians around the world adding to the uncertainty with destabilising rhetoric and policy. Markets in Hong Kong and Japan were also down 1% this week.
A bad credit rating can come about in a range of ways, according to Yahoo!7Finance.
What can affect a credit rating?
Errors in personal information along with out of date information can quickly cause problems. It’s important for people to get a copy of their credit record and quickly correct out of date information.
With the economy becoming more unstable due to inflation, one needs a hedge against inflation. The inflation figure for this quarter is announced as 1.2% increases, which is way ahead than the expected rate of 0.6% hike. To fight this, investors could allocate few of their eggs to inflation linked bonds. Continue reading
Future fund holds a little more than 91 billion dollars to pay the defined benefit pensions to public servants. Over three years, it has returned almost 9.7% annually and over five years, it has touched 8.2% annually. It has beaten its previous record of 7% for three years and 6.8% for 5 years. Continue reading
With the increasing power prices, many business owners are trying to shift to cost saving methods. Removing carbon tax had no effect on the increasing high power bills.
How are you charged?
Business units require more power than a household. The size of the business and the number of working hours determines the amount of power consumed. The business energy bills separate network charges and other on-cost from the per KW/hour rate. Continue reading
The all time lowest interest rates in Australia have made the investors to invest heavily in the residential estates. There has been a noticeable price rise in the real estate prices by up to 5 and 3.5 percent in Sydney and Melbourne respectively, over the last quarter. According to Robert Miller, MD BIS Shrapnel, there is an increase in the investor activity by 30 percent, as compared to last year. Continue reading
Jessica Winch and Steve Hawkes of the Daily Telegraph report a rise in energy bills of the British household by an average 9.2 percent. The changes are going to take effect from 23rd of November.
SSE hikes its prices
Scottish & Southern Energy (SSE) raised the gas prices by 8.4 per cent and electricity prices by 10.2 per cent. The price rise will increase the average annual bill of a duel fuel SSE customer from £1,354 to £1,460. That calculates to an annual rise of an average £106 to a British household. Continue reading
Reserve bank of Australia (RBA) did not change the October cash rate from 2.50%. RBA has kept the official interest rate unchanged, for two months in a row. Experts say that there will be no more cuts. It will either be the same or it will start to rise.
Reason for constant rate
In the RBA meeting held at its headquarters in Sydney, the board has decided to keep the rate at record low of 2.5% and was partly, because of the high house price in the capital cities. The house prices started to hike after the election and the annual increase in the price is 0.5% for the five mainland states per week, accounting to 5.7% housing price rise. Sydney experienced an 8.0 % increase and Perth has the highest rise of 8.8%. The least increase in house price is seen in Adelaide with 0.1%. Continue reading
US shutdown has started from Tuesday, due to the unsettled negotiation between the Republicans and the White House. The US government effectively shut down at midnight in Washington as the two parties did not reach a deal on extending the budget. How will this shutdown affect Australia? For Australia, the initial effect of this shutdown will be small but will cause a drastic effect, if the situation prolongs. Continue reading