Personal Finance

High Interest Debt and How to Get Rid of it

High Interest Debt and How to Get Rid of it - The Pay Calculator


High interest debt is bad for your financial health. It continually pulls you down and makes it harder for you to move forward. Yet many people still don’t do everything they can to get rid of this sort of debt as quickly as possible.

Basically, when saving money, you can and should be using your money to make more money via investments or high interest savings accounts. However, if you have high interest debt, any investment strategy you follow will typically not yield a return higher than what the debt is costing you via interest.

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19 Simple Ways to Save More Money

19 Simple Way to Save Money - The Pay Calculator


There are lots of things you can do to improve your financial position. Well there are kind of really only two things; increase your income or spend less.

Increasing your income is a great idea and definitely achievable, but instantly increasing your income isn’t possible – it takes work. While you’re working hard, here are some things you can do to reduce the cost of living and save more money!
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How to Make Money Investing

How to Make Money Investing - The Pay Calculator


Investing is one of the most important tools you can use to improve your financial position.

It’s essentially using your own money to make you more money. It’s available to everyone, and there are only a few main types of investments to understand, yet many people either choose not to invest or don’t know how. Let’s run through the main types of investments that are easily accessible to you and I.

Firstly though, we need to talk about two key fundamental aspects of investing: compound interest and leverage.

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Leasing vs Buying a Car-Working out What’s Best for You

Leasing vs Buying a Car - The Pay Calculator


It’s one of the most common decisions a car buyer can face – and one of the least understood. What’s actually the benefit of leasing a car? We know there’s some sort of ‘saving’ – all of the online lease calculators show us that – but what exactly are we saving?

Leasing a car is essentially a finance option that lets you have use of a car for a defined period of time. At the end of this lease term, you hand the car back – or sometimes you can buy the car outright, known as a balloon payment. There are a few different types of leases, but we’ll just be talking about novated lease agreements.

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Buying vs Renting-How to Make the Right Decision

Buying vs Renting - The Pay Calculator


If you’re looking to take on a new home, you’ll be weighing up the options carefully and deciding what’s best for you. Should you be buying your home in order to secure your future, or could you actually make yourself better off through renting?

Traditionally, home ownership was the best way for an individual to grow their personal wealth. With house prices rising and equity in your home increasing, you could create a strong investment for your own future, or for your family. However, a shift in the market over recent years has actually caused the tables to turn. If property investments continue to shirk the average and instead climb at a slowed rate, it will take much longer to make your investment back and for your home to start working for you. For some, renting may actually be the smarter long-term option.

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