Credit & Loan

Personal Debt Among Young Singaporeans Soars During Pandemic

Personal debt among young Singaporeans have been rising during the COVID-19 pandemic and the situation could turn sour once the interest rates start to rise. Recent Credit Bureau Singapore data showed that people in their twenties have been taking on increasing amounts of other debt since the second quarter of 2020. The data manifested that the average personal loans and overdraft balances for those under 30 elevated by about 23% in the first quarter of this year over the last

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Credit & Loan

Beginner’s Guide To Credit Cards

DEFINITION Swiping a credit card is the polar opposite of using a debit card. The latter allows you to spend the money that you already have in your checking account. While, the former lets you borrow money from a financial provider. You have to pay an interest at the end of every billing statement. Be forewarned that having a credit card does not equate to having “free” cash around. It only means that you are expected to pay back whatever

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Investments

How P2P Lending Works In Singapore

BY DEFINITION P2P Lending, short for Peer-to-Peer lending, took off in 2005. It sprung due to many companies’ efforts to deviate from the financial institutions that let them borrow money. Borrowing from banks took about two to three years’ worth of records. And, many companies do not have the luxury of time. Instead, they turn to the Internet for help. P2P websites allowed private people from around the world to lend money to various companies. For instance, you can lend

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Uncategorized

Don’t Make These 5 Mistakes When Applying for a Mortgage

A mortgage represents the most expensive form of credit most people will ever apply for. With house prices well above £200,000 in many locations, taking out a mortgage means taking on a sizeable debt that will take decades to pay off. As such, borrowers have to be very careful about what they do. The good news about mortgages is that there are plenty of them readily available. The bad news is that it is easy to make costly mistakes. Recognising

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Credit & Loan

4 Reasons Why You’re Stuck In Debt

Are you drowning in yesteryear’s debt? You are probably pessimistic about your financial future. Eventually, all these bills may push you to your boiling point. When this happens, a fresh start is essential. Start by being aware of the reasons why your pile of debt exists. Then, do the necessary actions to eliminate it. YOU ARE ADDICTED TO SHOPPING Whether you call it shopping addiction or retail therapy, you simply cannot control your spending habits. It is harmful to associate

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