Details

101 Ways to Get Out Of Debt and On the Road to Wealth


101 Ways to Get Out Of Debt and On the Road to Wealth


1. Aufl.

von: Ashley Ormond

14,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 04.05.2016
ISBN/EAN: 9781118320228
Sprache: englisch
Anzahl Seiten: 208

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Beschreibungen

<p><b><i>101 Ways to Get Out Of Debt and On the Road to Wealth</i> is the ultimate handbook for anybody who wants to get out of debt and stay out of debt.</b></p> <p>This book will provide you with an insider's knowledge of how to beat the lenders at their own game. Inside you will find 101 practical and proven methods that anybody can use to master their debt. Best-selling author Ashley Ormond shows you how to conquer all types of debt, including mortgages, credit cards, car loans, personal loans, investment loans and small business loans.</p> <p>In this book you will learn how to:</p> <ul> <li>save a fortune in interest</li> <li>get out of debt years earlier</li> <li>decide which debts to attack first</li> <li>find the best lending deals for your needs</li> <li>manage repayment problems.</li> </ul> <p>Ashley Ormond’s common-sense approach will get you debt free and on the road to wealth in no time -- and that means more control over your life, less stress, and greater long-term security for you and your family.</p>
<p><i>About the author xi</i></p> <p><b>Part I: the household debt explosion 1</b></p> <p><b>Part II: first things first 11</b></p> <p>1 Work out how far in the red you are 13</p> <p>2 Compare debts with income 14</p> <p>3 Work out your total loan repayment bill 16</p> <p>4 Get the facts on all your loans 17</p> <p>5 Check your interest rates 19</p> <p>6 Add up all those extra fees and charges 20</p> <p>7 Sort your debts 21</p> <p>8 Prioritise your debts 24</p> <p>9 Check your credit rating 26</p> <p>10 Make a calendar and set targets 27</p> <p>101 Ways to Get Out of Debt and On the Road to Wealth</p> <p><b>Part III: mortgages 29</b></p> <p>11 Do the numbers 31</p> <p>12 Increase your mortgage repayments 34</p> <p>13 Make one-off extra payments 37</p> <p>14 Use pay rises to increase your loan repayments 41</p> <p>15 Shorten the life of the loan 43</p> <p>16 Use your income patterns to pay off sooner 45</p> <p>17 Pay fortnightly instead of monthly 47</p> <p>18 Shop around for a lower rate 48</p> <p>19 Keep repayments flat when rates fall 51</p> <p>20 Don’t keep switching loans 53</p> <p>21 When refinancing, stick with your existing lender if you can 55</p> <p>22 Always choose principal-and-interest loans over interest-only loans 56</p> <p>23 Stick with floating mortgages 58</p> <p>24 Avoid redraw mortgages 60</p> <p>25 Be careful of offset accounts 62</p> <p>26 Don’t use line-of-credit mortgages 64</p> <p>27 Beware the honeymoon rate nightmare 66</p> <p>28 Don’t capitalise loans 68</p> <p>29 Upgrade your subprime loan 71</p> <p>30 Consolidate debt at your peril! 72</p> <p>31 Don’t pay for features you don’t need 75</p> <p>32 Take into account all fees 77</p> <p>33 All fees are negotiable 79</p> <p>34 Don’t count on your partner’s income to borrow more 80</p> <p>35 Mortgage brokers — spot the double take 82</p> <p>36 Check that you are getting the correct rate changes 84</p> <p>37 Let a tenant pay the mortgage 85</p> <p>38 Consider long-term house-sitting 86</p> <p>39 Plan a mortgage-burning party in advance 88</p> <p>40 Pay off the mortgage before investing 89</p> <p>41 Don’t bank on your superannuation fund to pay off the mortgage 93</p> <p>42 Let grown-up kids pay part of your mortgage 94</p> <p>43 Consider mortgage contributions instead of presents 95</p> <p>44 Downsize — smaller house, smaller mortgage 96</p> <p>45 Trade up houses, but trade down debt 98</p> <p>46 Try the payout two-step 101</p> <p>47 Avoid complex mortgage-reduction schemes 102</p> <p>48 If you have to sell, stay in control 103</p> <p><b>Part IV: credit cards 105</b></p> <p>49 Find out how much you spend on credit cards 107</p> <p>50 Choose the right card for your needs 108</p> <p>51 Avoid credit card surfing 108</p> <p>52 Never use cash advances 109</p> <p>53 Cut up your store cards 110</p> <p>54 Never pay just the minimum amount 111</p> <p>55 Keep payments flat 113</p> <p>56 Use direct debits 114</p> <p>57 Check every item on statements 115</p> <p>58 Once you’ve paid it off, cut it up 116</p> <p>59 Consider changing to charge cards 117</p> <p>60 If you have a charge card, don’t take up the credit option 118</p> <p>61 Reduce your credit limits 119</p> <p>62 Do leave home without it! 120</p> <p><b>Part V: car loans, personal loans, boat loans and store loans 123</b></p> <p>63 Renegotiate, don’t refinance 125</p> <p>64 Always pay a cash deposit 126</p> <p>65 Never buy new 128</p> <p>66 Don’t self-insure 130</p> <p>67 Don’t use store loans 131</p> <p>68 If you fall into arrears, tell your lender as soon as possible 132</p> <p>69 Get the credit bureau to limit more lending 134</p> <p>70 Celebrate each win 135</p> <p><b>Part VI: investment loans 137</b></p> <p>71 Use principal-and-interest loans for investment properties 139</p> <p>72 Avoid fixed-rate loans for rental properties 140</p> <p>73 Avoid lines of credit for investment properties 141</p> <p>74 Use your tax refund 142</p> <p>75 Don’t use deposit bonds 143</p> <p>76 Don’t borrow for the holiday house 145</p> <p>77 Borrow in the same currency as your income 146</p> <p>78 Beware the margin on share loans 149</p> <p>79 Use dividends to pay off the principal on share loans 151</p> <p><b>Part VII: small business debts 153</b></p> <p>80 Get your personal finances sorted before starting a business 155</p> <p>81 Keep business finances separate 156</p> <p>82 Use your business plan 156</p> <p>83 Don’t make capital purchases using the overdraft 157</p> <p>84 Don’t extend your lease term too long 158</p> <p>85 Avoid high lease residuals 160</p> <p>86 When buying a business, do your research 161</p> <p>87 Don’t borrow to buy a franchise 163</p> <p>88 Be careful of line-of-credit mortgages for business 164</p> <p>89 Use supplier terms and customer terms sensibly 165</p> <p>90 Sell your debtors 167</p> <p>91 Maximise depreciation 168</p> <p>92 Never pay full price for business equipment 170</p> <p>93 Business succession to reduce debt 171</p> <p><b>Part VIII: avoiding and minimising debt 173</b></p> <p>94 Maintain an emergency cash fund 175</p> <p>95 Use separate accounts for savings goals 176</p> <p>96 No deposit, no mortgage 177</p> <p>97 Renters, get a 10 to 15 per cent discount on your first home 179</p> <p>98 Don’t borrow to put money into superannuation 181</p> <p>99 Avoid tax-based schemes 182</p> <p>100 Be careful if guaranteeing other people’s debts 183</p> <p>101 Beware the lender who says you can afford a loan 185</p> <p><b>Part IX: the final pay-off 189</b></p> <p><b>Part X: useful resources 191</b></p> <p><i>Index 195</i></p>
<b>Ashley Ormond</b> was one of Australia’s first PC-equipped ‘mobile lenders’, starting out in the early 1980s with a financial calculator, a dual-floppy drive Compaq portable PC and a portable Epson thermal printer in his car. This was before the age of mobile phones, the internet, Windows, Excel, or even hard drives. It was back in the days when: <ul> <li> <div align="left">lenders actually analysed each borrower’s ability to repay</div> </li> <li> <div align="left">borrowers actually had to have a job or other source of income</div> </li> <li> <div align="left">borrowers actually had to have proof of a savings record, proof of income, proof of assets</div> </li> <li> <div align="left">lenders had to actually think about how each debt would be repaid, instead of just shovelling money out the door</div> </li> <li> <div align="left">lenders actually retained the credit risk and retained the ownership of loans, instead of just selling them to unsuspecting bond-holders on the other side of the world.</div> </li> </ul> <p>His banking and finance career included several senior executive roles at major Australian and international banking and finance groups, including running branch networks, lending operations, product development, pricing and financial control. His formal qualifications include a Bachelor and Masters in Law, a Bachelor of Arts in Economic History and a Graduate Diploma in Applied Finance and Investment. He has also lectured for the Securities Institute of Australia. Since ‘retiring’ at 40, he has been a director of several companies, including listed, private and not-for-profit companies and a charitable foundation.</p> <p>Ashley is the principal of Investing 101 Pty Ltd, a specialist investment research firm that holds an Australian Financial Services Licence. He is a sought-after speaker and commentator on financial markets and has written two best-selling books on finance: <i>How to Give Your Kids $1 Million Each!</i> and <i>$1 Million for Life.</i></p>
<i><b>101 Ways to Get Out Of Debt and On the Road to Wealth</b></i> is the ultimate handbook for anybody who wants to get out of debt and stay out of debt. <p>This book will provide you with an insider’s knowledge of how to beat the lenders at their own game. Inside you will find 101 practical and proven methods that anybody can use to master their debt. Best-selling author Ashley Ormond shows you how to conquer all types of debt, including mortgages, credit cards, car loans, personal loans, investment loans and small business loans.</p> <p>In this book you will learn how to:</p> <ul> <li> <div>save a fortune in interest</div> </li> <li> <div>get out of debt years earlier</div> </li> <li> <div>decide which debts to attack first</div> </li> <li> <div>find the best lending deals for your needs</div> </li> <li> <div>manage repayment problems.</div> </li> </ul> <p>Ashley Ormond’s common-sense approach will get you debt free and on the road to wealth in no time -- and that means more control over your life, less stress, and greater long-term security for you and your family.</p>

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