Taking a mortgage ? Do Not Change Your Lifestyle Dramatically

My observation could be too narrow, but from what I saw, when someone want to take a mortgage, he/she tends to go for the maximum available even exceed it. The argument usually that they can still afford the repayment, so there should be no problem taking that amount of mortgage/homeloan. It seems they forget one golden rule that I always endorse: if you take a mortgage you cannot change your lifestyle dramatically.

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Protect Your Financial Life: Insure Yourself

When we are busy trying to improve our financial situation and our life in general, one thing that usually people forget is that we are human. As human we got sick, sometimes very sick: do we have enough money to cover the medical cost? Do we have enough money to pay those bill when we are not well? Do we have enough money to finance the recovery?  And as human we also will die, sooner or later. And when that’s happen, are we going to be ready ? At least financially ? Read more

Debt is Good: Only for Investing & Business Though

When business and investment people are asked, what sort of criteria to make a investment or a business is an ideal one. One of the item high on the list is that the investment or business should not used their hard earn money. In other words: taking other people money (OPM) or having a debt.

On separate article (Debt Is Bad: Insight From Franklin and Gandhi), I have explained why having a debt is not really a good thing, especially if the debt is used for acquaring any kind of lifestyle product.  So, what is the different now, why suddenly debt become a good thing to have ?

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Debt Is Bad: Insight From Franklin and Gandhi

Having a debt on your name means you will personally responsible to repay that amount of money to the lender. This is a responsibility that you cannot avoid unless you declare yourself bankrupt which carries a lot of severe consequences. (Trust me, you don’t want declare yourself a bankrupt!). So, in other words, Debt is Bad. But there is also a psychological factor that might prevent you to reach a happiness if you engage yourself into the world of debt. Read more

Effective and Smart Budgeting With No Hassle In 15 minutes!

When talking about budget and actually doing it, some  people seems to bother more about which software that they need to buy, which method do they need to follow (as in accounting method ), etc.  On the other side of the coin: some people only do the budgeting on their head, as remember everything on their memory. And the rest of us simply don’t bother about any budgeting at all….. Read more