Comments on: Top 10 Financial Products To Avoid http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/ Simplifying Finance, Housing and debt Wed, 10 Mar 2010 10:45:59 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Horlic http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-2428 Horlic Thu, 07 Jan 2010 06:12:42 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-2428 That’s really bad if someone had all this 10 items... I’m sure sooner or later he will declared bankruptcy :-) That’s really bad if someone had all this 10 items… I’m sure sooner or later he will declared bankruptcy :-)

]]> By: Dorsey http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-2344 Dorsey Wed, 16 Sep 2009 21:08:20 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-2344 Do not using cards is the easiest way to never get fees. But I use them for a lot of good reasons and never pay interest rates. Some people use them a lot, and you have to start somewhere. Making a conscious effort to understand your payments and fees and how your credit card usage patterns affect them is a great start for many.I think rate-jacking would be similar to universal default interest rate ladder? (I guess I went with the industry term). If it isn’t I will research it and add it to the list! Thanks for the comment! :) Do not using cards is the easiest way to never get fees. But I use them for a lot of good reasons and never pay interest rates. Some people use them a lot, and you have to start somewhere. Making a conscious effort to understand your payments and fees and how your credit card usage patterns affect them is a great start for many.I think rate-jacking would be similar to universal default interest rate ladder? (I guess I went with the industry term). If it isn’t I will research it and add it to the list! Thanks for the comment! :)

]]> By: Yannis http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-1474 Yannis Wed, 25 Jun 2008 15:46:22 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-1474 the Visa ‘Aspire’ card seems like a sweet deal for the banks pocket, besides interest...they make around $257 for each person, that is crazy. the Visa ‘Aspire’ card seems like a sweet deal for the banks pocket, besides interest…they make around $257 for each person, that is crazy.

]]> By: em http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-1374 em Thu, 01 May 2008 16:11:27 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-1374 they got the balloon mortgage wrong. what they're talking about is an ARM. A balloon mortgage is one where you pay a small amount every month during your introductory period, and then when your intro period ends, you owe a huge check for the rest of your outstanding balance. they got the balloon mortgage wrong. what they’re talking about is an ARM. A balloon mortgage is one where you pay a small amount every month during your introductory period, and then when your intro period ends, you owe a huge check for the rest of your outstanding balance.

]]> By: Monevator http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-1293 Monevator Fri, 11 Apr 2008 18:50:08 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-1293 I agree with the article in general, and disagree with the post who suggests some of those are useful products... with the possible exception of the interest only mortgage. That's a very sensible way of buying a buy-to-let for tax reasons, as I understand it. I guess the others are 'useful' in that if you need a payday loan you're probably incredibly grateful to get one, but it'd be better to try and fix your finances in the long-term... I agree with the article in general, and disagree with the post who suggests some of those are useful products… with the possible exception of the interest only mortgage. That’s a very sensible way of buying a buy-to-let for tax reasons, as I understand it.

I guess the others are ‘useful’ in that if you need a payday loan you’re probably incredibly grateful to get one, but it’d be better to try and fix your finances in the long-term…

]]> By: 10 Tips for Financial Planning | Finance Blog http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-1255 10 Tips for Financial Planning | Finance Blog Fri, 28 Mar 2008 14:55:04 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-1255 [...] Top 10 Finance Products to Avoid [...] [...] Top 10 Finance Products to Avoid [...]

]]> By: Monroe on a Budget » Blog Archive » Carnival of Personal Finance stages a prison break from financial woes http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-989 Monroe on a Budget » Blog Archive » Carnival of Personal Finance stages a prison break from financial woes Mon, 18 Feb 2008 21:05:31 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-989 [...] Blog presents Top 10 Financial Products to Avoid: “Some of these products are blatantly bad value; but, others have their charges cleverly [...] [...] Blog presents Top 10 Financial Products to Avoid: “Some of these products are blatantly bad value; but, others have their charges cleverly [...]

]]> By: Special Ed http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-983 Special Ed Mon, 18 Feb 2008 13:05:29 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-983 Actually, some of these instruments are very good if used correctly. Credit cards should never be used for long term financing. But, in conjunction with a rewards system they can be beneficial. The use of an interest only loan "solely to help in times of extreme cashflow" would also be a poor choice. If the consumer doesn't know why he would want an I/O mortgage, other than he is buying more house than he can afford, he should be saving for a down payment on a conventional, fixed loan. Actually, some of these instruments are very good if used correctly. Credit cards should never be used for long term financing. But, in conjunction with a rewards system they can be beneficial.

The use of an interest only loan “solely to help in times of extreme cashflow” would also be a poor choice. If the consumer doesn’t know why he would want an I/O mortgage, other than he is buying more house than he can afford, he should be saving for a down payment on a conventional, fixed loan.

]]> By: Blog from Debt Advice Online http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-949 Blog from Debt Advice Online Tue, 12 Feb 2008 16:07:58 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-949 [...] card debt is particularly hard to pay off. If you have loans then you will most likely have fixed monthly payments and an end date in sight of between one and seven years. However, this is not the case with credit [...] [...] card debt is particularly hard to pay off. If you have loans then you will most likely have fixed monthly payments and an end date in sight of between one and seven years. However, this is not the case with credit [...]

]]> By: Dave C http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/comment-page-1/#comment-932 Dave C Sat, 09 Feb 2008 13:39:46 +0000 http://www.mortgageguideuk.co.uk/blog/finance/top-10-financial-products-to-avoid/#comment-932 Don't forget variable annuities... Don’t forget variable annuities…

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