Not for much longer
Up to 800% interest year
Mary Holm: Loan sharks circling for desperate people Comment: Payday lenders charge huge interest and fees that mount up.
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Not for much longer
Up to 800% interest year
Mary Holm: Loan sharks circling for desperate people Comment: Payday lenders charge huge interest and fees that mount up.
Absolutely we do
"The budget is well on course to carry the country through the next shock, whatever form it takes and whenever it may be, and the Government needs to keep it that way."
Crown debt is now below 20% first time since the GFC.
From The Herald
article.cfm
Wow that is exciting news. So I borrow $200k for my mortgage and will never have to pay back more than $400k in total. Great stuff NZ First, Labour and Greens. Great savings to be made purchasing houses especially when interest rates get back to the 7-8% levels.
You do know you cant fix stupid? No matter what laws are in place. Did you see this bit "He told of three mums seeking the marae's help, who were all aged in their 30s, had 14 children between them and 30 debts totalling about $144,000" We don't need anti-loan shark legislation. we need compulsory contraception.
I know it has tow words and one of them has three syllables but we really need to teach and hammer home the power of and risk with "Compounding Interest" Financial literacy might be a whole lot more use as an extra subject in the curriculum rather than te reo.
I am totally on board there. I have a friend who has a degree and so does his wife from University. They are as financially illiterate as can be. He earns over 100k per annum but they are living in poverty with debts coming out of their ar se holes. I have tried to educate them and have helped consolidate their loans and it is helping but sometimes you cannot help people from themselves. They then go and borrow money for overseas travel. They had a loan from a bank which they called a low interest loan. The rate .... 15.9%. Really some people are just thick. But if they had had some financial literacy taught in schools it may have helped them. They are intelligent enough in the normal sense to be able to understand things. Just not sure if they are emotionally strong enough to say no to baubles and trinkets.
Kiwi booze will have to carry pregnancy warning labels
Another commonsense action.
More of you cant fix stupid. Women with a half functioning brain know not to drink when pregnant. The others wont be able to read the label. When you are in your 30's and you've got 5 kids to your name already and no idea about debt do you seriously think an alcohol warning label is going to make a difference?
All it means is that sensible people have to be reminded of the stupidity of others every time they pick up a bottle.
Edit: Im waiting for a label that goes on soft drink that say "You are a very bad parent if you feed this sh1t to your kids"