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Why We Need To Warn Our Children About Lenders Like Nimble And MoneyMe

I am sure you have seen the ads on TV: having problems with paying your gas bill/phone bill/car repairs/nursery for your new baby?  “Why don’t you Nimble it?” says the guy dressed in a rabbit suit.  Nimble call themselves “smart little loans” but in reality there is nothing smart about them, as behind the humor and quirky advertising, lurks the most insidious form of lending the ‘payday loan’.

But what is a ‘payday loan’?  Typically a payday loan is for a small amount of money, usually less than $2,000 and which is lent for only a short period of time.  Traditionally it was until your next payday and hence the name.  The other trademark of a ‘payday loan’ is the extra ordinate interest and fees interest they charge.   In Australia, fees are regulated at 20% of the value of the loan and a maximum interest rate of 4% per month.  Yes, you […]

By |January 17th, 2015|Debt|11 Comments

Why Money Is Just As Important As Sex (When Talking To Your Children)

Most parents see it as part of their role to have the birds and the bees talk with their children.  They expect that at some point in time it is a conversation (or in most cases, several conversations) that that they will have to have.  It is seen as an integral part of the parent job description, crucial to bringing up a well rounded child.

But why is it not the same with money?  We talk openly with our children about sex but shy away from something that will be just as an integral part of their adult lives.  Think of how many money related things you do every day – go to work, buy the groceries, pay bills, use a credit card, pay the mortgage or the rent.  Whether we like it or not money is an integral part of our daily lives.  I don’t mean this in a “money […]

By |September 18th, 2013|General Finance|38 Comments