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A financial advisor recently recommended we take out a variety of life insurances. What do we need?

The only challenge with life insurance is that you can’t buy it when you need it.  You need to buy it ahead of time just in case you might need it.    Generally speaking, the more debt and dependants you have the more insurance you need.  In your early 20s you may not need a lot of insurance but as you go through life, have children and get a mortgage, you need the most amount of insurance.  Then as your

I have three credit cards and a car loan. Is it a good financial decision to consolidate them and take out one big loan?

The answer to your question is that it depends.  Consolidating all of your debts into one loan can either be a great idea saving you money and helping you get on top of your debts, or the opposite in that it costs you more money and stress.    Debt consolidation is getting one loan, at a lower interest rate, and paying off all of your debts with this one loan.  Often people will get a personal loan which will generally have

Top 5 tips for first home buyers

Lisa Dudson provides her top 5 tips for first home buyers to help them get into their first home and out of the first home buyers market. Look at buying a property within your means.  Find a good online mortgage calculator to work out how much your mortgage repayments and other property related expenses are going to be. Assess if you can actually afford them.  Your calculations should also include worst case scenarios of interest rates rising. If you find

No idea how to best manage your money and wonder if you can ever afford to get a mortgage to buy a house? Here are some tips

There is no doubt most of us can do better with our money.  I can teach you how to manage your money. If you learn some basic principles you will be able to afford to save and get yourself into a home, or whatever else that might be important to you. Here are 10 Simple tips for managing your money: Review your budget or if you don’t have one, develop one.  This will help you get a