Scotsman guide to debt
Scotsman guide to debt
Closing bell: Over-doing the cuts? Keep in mind our credit-rating masters
Debt is a pretty straightforward concept.
Scots' personal debt on the rise as spectre of repossession looms
PERSONAL debt among Scots is on the rise, according to data handed exclusively to Scotland on Sunday by one of the UK's leading credit reference agencies.
More top stories
Debt advisors face record calls
DEBT advisers are set to take a record number of calls as consumers are left to deal with a Christmas on credit.
Desperate debtors need to take responsibility and give lenders some credit
IT HAS been another bad week for the banks. Financial Ombudsman Walter Merricks reported a rise in complaints of about a third when he published his annual report.
Banks to share data to cut debt problems
FOUR of the UK's five biggest banks today agreed to share information about customers in an attempt to spot people who are struggling with debt before they default on repayments.
Hundreds count the cost as bankruptcy soars
PERSONAL bankruptcy in Scotland has soared by an alarming 56 per cent and could be just the tip of the iceberg, according to experts.
How silence can tell its own story
HELPING people who have money problems involves a lot more verbal diplomacy than may be apparent. How an individual hears and interprets advice, suggestions, or expressions of empathy is often shaped by where they are in the process of solving their financial problems.
Americans realise value in renting
SHOULD we sell our flats and houses to realise the substantial increase in their value and then rent until property prices decline? This is a discussion friends and I in New York have been having frequently. A few people I know have sold, capturing the nearly seven-figure gains they’ve made on their property. Each is now happily renting a very nice place until a good deal to buy comes along.
When best laid plans go awry
WHEN I started my financial services training business in 1990 after being downsized from a job I loved, an important Wall Street technology firm became my first client. Last week I received a call telling me that the company had eliminated its entire corporate training department.
Three simple steps to financial health
I HAVE spent the last week reading many newspaper and magazine articles in Britain and the US about what you should do if you are in debt after overspending at Christmas and about the kinds of financial resolutions each of us should make for 2005.
Get a money-friendly mind
FIVE YEARS ago, Nicola Cairncross was broke. She was unemployed, unable to pay her rent, and struggling with huge debts. Today, the 42-year-old mother-of-two has investments totalling almost £1 million and counts a boutique hotel among her property portfolio. To do this she did more than change her spending habits - first she had to change her money mind-set.
Gifts can be a clear and present danger
THE ways I use and manage my own money have been significantly affected by my work in personal finance. Listening to other people’s money stories (good and bad), selecting the people who will appear on my television shows, and doing research for books have brought about some changes that a friend and I recently discussed after she asked me what I wanted for Christmas.
To help you master your money, take a look in the mirror
MANY people want to think that handling money well is just a matter of mastering the numbers. But another key aspect is one that most people want to avoid: self-reflection. In order to handle money well, you must know your money personality and take control of the detrimental aspects. In my new book, What Not To Spend, I discuss some of the basic money personalities I’ve dealt with over the years. Do any of the descriptions below sound like your partner, a relative, or yourself?
Don't be caught out by small print
EVERY consumer owes it to themselves to read at least one credit card or store card agreement in full, especially the details of those 0 per cent and low-interest credit card offers.
Checkup is good for financial health
EACH year on 1 September, I take time to look coldly at the reality of where I stand relative to the financial goals and the spending challenges I set for myself in January. I have not been ignoring these during the past months, but I have been monitoring them less rigorously. Let’s say I’ve been on financial autopilot.
To get rich, avoid the lure of 'easy' money
DOES the average person in Britain take more risks with money than he or she is aware of? I’ve concluded that the answer is yes. However, people in the UK are not more speculative with their finances because they are more informed. Instead, many do so as they simply don’t understand the concept of risk or consider it when making decisions about their finances.
The best-laid plans of financial advisors gang aft agley...
I WAS asked this question in a recent interview: "Do you get frustrated or annoyed when the people on your programme don’t take your advice?"
Don't just buy art for art's sake; seek out the real jewels
LAST week, I revealed my love for collecting. Today this passion is focused on contemporary art. I can still look at lots of other things, but I cannot buy them. I admit that holding to this commitment is a struggle, but it is good for my mind and my wallet. I think my collecting skills have improved because of the tighter focus.
Buying bargains may cost you in the long run
I AM always astonished by the manner in which people who are quite rational in most ways delude themselves about the fact that they are actually spending money. They try to mask the truth of their actions by looking at it from a point of view that deliberately obscures the fact that pounds, in large and small quantities, are leaving their bank account. Here are three of the delusions I encounter most often.
It's never too early to learn lessons
WHEN parents contemplate teaching their children about money, they almost always think about their own experiences - what their parents did or didn’t do; the beneficial or detrimental things they have done with money; the role money has had in their lives.
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Weather for Edinburgh
Monday 20 February 2012
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